CareTrust REIT (NYSE:CTRE) Stock Price Expected to Rise, Cantor Fitzgerald Analyst Says

CareTrust REIT (NYSE:CTRE) had its price target upped by Cantor Fitzgerald from $42.00 to $43.00 in a report released on Monday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Cantor Fitzgerald’s price target suggests a potential upside of 4.33% from the company’s previous close.

Several other equities analysts have also weighed in on the company. Mizuho set a $45.00 target price on CareTrust REIT in a report on Friday, May 22nd. Wells Fargo & Company upped their price objective on shares of CareTrust REIT from $42.00 to $47.00 and gave the stock an “overweight” rating in a report on Monday, June 1st. Citigroup reissued a “market outperform” rating on shares of CareTrust REIT in a research report on Wednesday, June 10th. Raymond James Financial started coverage on CareTrust REIT in a research report on Tuesday, June 16th. They set an “outperform” rating and a $43.00 price objective for the company. Finally, Zacks Research upgraded CareTrust REIT from a “strong sell” rating to a “hold” rating in a report on Monday, May 25th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $44.91.

CareTrust REIT Stock Down 0.0%

Shares of CareTrust REIT stock opened at $41.22 on Monday. The stock has a 50-day simple moving average of $40.11 and a 200-day simple moving average of $39.54. CareTrust REIT has a 52-week low of $32.25 and a 52-week high of $43.62. The firm has a market cap of $9.74 billion, a price-to-earnings ratio of 25.92, a P/E/G ratio of 1.85 and a beta of 0.75. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.57 and a quick ratio of 0.57.

Institutional Investors Weigh In On CareTrust REIT

A number of hedge funds have recently made changes to their positions in CTRE. Kemnay Advisory Services Inc. bought a new position in CareTrust REIT during the 4th quarter valued at about $27,000. Persistent Asset Partners Ltd bought a new stake in CareTrust REIT during the second quarter worth about $31,000. Transamerica Financial Advisors LLC increased its holdings in shares of CareTrust REIT by 520.0% during the fourth quarter. Transamerica Financial Advisors LLC now owns 868 shares of the company’s stock worth $32,000 after buying an additional 728 shares in the last quarter. EverSource Wealth Advisors LLC increased its holdings in shares of CareTrust REIT by 134.2% during the second quarter. EverSource Wealth Advisors LLC now owns 1,124 shares of the company’s stock worth $34,000 after buying an additional 644 shares in the last quarter. Finally, Mcguire Capital Advisors Inc. bought a new position in shares of CareTrust REIT in the fourth quarter valued at approximately $40,000. Institutional investors and hedge funds own 87.77% of the company’s stock.

CareTrust REIT Company Profile

CareTrust REIT, Inc is a real estate investment trust based in Deerfield Beach, Florida, specializing in the ownership, acquisition and management of net-leased healthcare properties. The company primarily focuses on seniors housing and post-acute care facilities, entering into long-term, triple-net lease agreements with leading operators in the skilled nursing, assisted living, memory care, inpatient rehabilitation and specialty hospital sectors. Through its portfolio, CareTrust REIT aims to provide investors with stable and predictable rental income while supporting the ongoing demand for quality healthcare real estate across the United States.

Since its initial public offering in September 2013, CareTrust REIT has pursued a disciplined acquisition strategy, targeting properties in primary and select secondary markets.