CareTrust REIT, Inc. (CTRE) Rating Increased to Hold at Zacks Investment Research

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.

Analyst Recommendations for CareTrust REIT (NASDAQ:CTRE)

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