Caretrust REIT (NASDAQ:CTRE) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Monday.
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 research analysts also recently issued reports on CTRE. BidaskClub raised shares of Caretrust REIT from a “buy” rating to a “strong-buy” rating in a research report on Thursday, November 8th. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $20.00 price objective on shares of Caretrust REIT in a research report on Monday, November 5th. ValuEngine raised shares of Caretrust REIT from a “sell” rating to a “hold” rating in a research report on Tuesday, August 7th. Royal Bank of Canada reaffirmed a “hold” rating and issued a $18.00 price objective (up from $16.00) on shares of Caretrust REIT in a research report on Thursday, August 9th. Finally, KeyCorp upped their price objective on shares of Caretrust REIT from $16.00 to $20.00 and gave the stock a “buy” rating in a research report on Tuesday, August 21st. Five analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $18.38.
CTRE stock traded down $0.10 during trading on Monday, reaching $19.31. The stock had a trading volume of 472,400 shares, compared to its average volume of 671,494. Caretrust REIT has a one year low of $12.73 and a one year high of $19.86. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.52 and a current ratio of 1.52. The company has a market capitalization of $1.63 billion, a price-to-earnings ratio of 16.65, a PEG ratio of 3.04 and a beta of 0.73.
Caretrust REIT (NASDAQ:CTRE) last issued its quarterly earnings data on Monday, November 5th. The real estate investment trust reported $0.18 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.32 by ($0.14). Caretrust REIT had a return on equity of 7.01% and a net margin of 29.14%. The firm had revenue of $39.50 million during the quarter, compared to the consensus estimate of $39.37 million. During the same period in the previous year, the company posted $0.28 earnings per share. The company’s revenue for the quarter was up 20.1% on a year-over-year basis. On average, sell-side analysts forecast that Caretrust REIT will post 1.27 EPS for the current fiscal year.
Institutional investors have recently added to or reduced their stakes in the company. Paloma Partners Management Co bought a new position in shares of Caretrust REIT during the 2nd quarter valued at approximately $519,000. Dimensional Fund Advisors LP grew its position in shares of Caretrust REIT by 3.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,124,671 shares of the real estate investment trust’s stock valued at $18,771,000 after acquiring an additional 37,941 shares during the period. BlackRock Inc. grew its position in shares of Caretrust REIT by 15.0% during the 2nd quarter. BlackRock Inc. now owns 14,967,382 shares of the real estate investment trust’s stock valued at $249,805,000 after acquiring an additional 1,948,664 shares during the period. Principal Financial Group Inc. grew its position in shares of Caretrust REIT by 3.1% during the 1st quarter. Principal Financial Group Inc. now owns 683,847 shares of the real estate investment trust’s stock valued at $9,163,000 after acquiring an additional 20,416 shares during the period. Finally, Schwab Charles Investment Management Inc. grew its position in shares of Caretrust REIT by 4.1% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 409,686 shares of the real estate investment trust’s stock valued at $6,838,000 after acquiring an additional 16,207 shares during the period. 85.86% of the stock is owned by hedge funds and other institutional investors.
About Caretrust REIT
CareTrust REIT, Inc is a self-administered, publicly-traded real estate investment trust engaged in the ownership, acquisition and leasing of seniors housing and healthcare-related properties. With 189 net-leased healthcare properties and three operated seniors housing properties in 25 states, CareTrust REIT is pursuing opportunities across the nation to acquire properties that will be leased to a diverse group of local, regional and national seniors housing operators, healthcare services providers, and other healthcare-related businesses.
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