CareTrust REIT, Inc. (NASDAQ:CTRE) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.
According to Zacks, “CareTrust REIT, Inc. is a real estate investment trust. It is primarily engaged in the ownership, acquisition and leasing of healthcare-related properties. The Company leases healthcare facilities to healthcare operators in triple-net lease arrangements. CareTrust REIT, Inc. is based in United States. “
A number of other equities analysts have also weighed in on the company. KeyCorp reissued a “buy” rating and set a $20.00 price objective on shares of CareTrust REIT in a research note on Friday, August 25th. BidaskClub raised CareTrust REIT from a “hold” rating to a “buy” rating in a research note on Saturday, August 19th. Finally, BMO Capital Markets lowered CareTrust REIT from an “outperform” rating to a “market perform” rating and boosted their price objective for the stock from $18.00 to $20.00 in a research note on Tuesday, June 20th. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. CareTrust REIT currently has an average rating of “Hold” and a consensus price target of $18.57.
Shares of CareTrust REIT (NASDAQ:CTRE) opened at 19.05 on Tuesday. CareTrust REIT has a 12-month low of $12.70 and a 12-month high of $19.86.
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Several institutional investors have recently made changes to their positions in the company. Navellier & Associates Inc lifted its stake in shares of CareTrust REIT by 1.0% in the 2nd quarter. Navellier & Associates Inc now owns 41,831 shares of the real estate investment trust’s stock valued at $776,000 after purchasing an additional 421 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in shares of CareTrust REIT in the 2nd quarter valued at $281,000. Wasatch Advisors Inc. lifted its stake in shares of CareTrust REIT by 1.0% in the 2nd quarter. Wasatch Advisors Inc. now owns 3,408,826 shares of the real estate investment trust’s stock valued at $63,200,000 after purchasing an additional 34,737 shares during the last quarter. Verition Fund Management LLC acquired a new position in shares of CareTrust REIT in the 2nd quarter valued at $229,000. Finally, Piedmont Investment Advisors LLC acquired a new position in shares of CareTrust REIT in the 2nd quarter valued at $291,000. 89.39% of the stock is currently owned by institutional investors and hedge funds.
CareTrust REIT Company Profile
CareTrust REIT, Inc is a self-administered, self-managed real estate investment trust. The Company is engaged in the ownership, acquisition and leasing of healthcare-related properties. It makes investments in healthcare-related real estate assets. As of December 31, 2016, its real estate portfolio included 154 skilled nursing facilities (SNFs), SNF Campuses, assisted living facilities and independent living facilities.
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