CareTrust REIT (NASDAQ:CTRE) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Tuesday, Zacks.com reports. The brokerage presently has a $27.00 price target on the real estate investment trust’s stock. Zacks Investment Research‘s target price would suggest a potential upside of 16.13% from the stock’s previous close.
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 brokerages have also recently weighed in on CTRE. Barclays raised their target price on shares of CareTrust REIT from $21.00 to $25.00 and gave the stock an “overweight” rating in a report on Tuesday, January 19th. BMO Capital Markets upgraded shares of CareTrust REIT from a “market perform” rating to an “outperform” rating and upped their price target for the company from $25.00 to $26.00 in a research report on Thursday, January 7th. Mizuho upped their price target on shares of CareTrust REIT from $19.00 to $22.00 and gave the company a “neutral” rating in a research report on Wednesday, January 13th. Finally, Raymond James restated a “buy” rating and issued a $25.00 price target on shares of CareTrust REIT in a research report on Friday, March 5th. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $23.78.
NASDAQ:CTRE traded down $0.79 during trading hours on Tuesday, reaching $23.25. 880,857 shares of the company’s stock were exchanged, compared to its average volume of 600,821. The company has a market capitalization of $2.23 billion, a P/E ratio of 27.35 and a beta of 1.11. CareTrust REIT has a 12 month low of $15.41 and a 12 month high of $24.89. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.54. The business’s 50-day simple moving average is $24.02 and its two-hundred day simple moving average is $21.96.
CareTrust REIT (NASDAQ:CTRE) last issued its earnings results on Tuesday, February 9th. The real estate investment trust reported $0.22 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.36 by ($0.14). CareTrust REIT had a return on equity of 8.74% and a net margin of 45.10%. As a group, sell-side analysts anticipate that CareTrust REIT will post 1.38 earnings per share for the current fiscal year.
Hedge funds have recently added to or reduced their stakes in the business. Atwood & Palmer Inc. purchased a new stake in CareTrust REIT in the 1st quarter worth approximately $28,000. International Assets Investment Management LLC purchased a new stake in CareTrust REIT in the 4th quarter worth approximately $34,000. Van ECK Associates Corp lifted its position in CareTrust REIT by 23.4% in the 3rd quarter. Van ECK Associates Corp now owns 2,881 shares of the real estate investment trust’s stock worth $51,000 after buying an additional 547 shares in the last quarter. Capital Asset Advisory Services LLC purchased a new stake in CareTrust REIT in the 4th quarter worth approximately $52,000. Finally, Crewe Advisors LLC lifted its position in CareTrust REIT by 140.5% in the 4th quarter. Crewe Advisors LLC now owns 2,472 shares of the real estate investment trust’s stock worth $55,000 after buying an additional 1,444 shares in the last quarter. Institutional investors own 87.55% of the company’s stock.
CareTrust REIT Company Profile
CareTrust REIT, Inc is a self-administered, publicly-traded real estate investment trust engaged in the ownership, acquisition, development and leasing of skilled nursing, seniors housing and other healthcare-related properties. With a nationwide portfolio of long-term net-leased properties, and a growing portfolio of quality operators leasing them, CareTrust REIT is pursuing both external and organic growth opportunities across the United States.
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