Royal Bank Of Canada Reaffirms “Sector Perform” Rating for CareTrust REIT (NYSE:CTRE)

CareTrust REIT (NYSE:CTRE)‘s stock had its “sector perform” rating restated by investment analysts at Royal Bank Of Canada in a note issued to investors on Monday, Benzinga reports. They presently have a $43.00 target price on the stock. Royal Bank Of Canada’s price target would suggest a potential upside of 18.31% from the stock’s current price.

A number of other analysts also recently commented on CTRE. Cantor Fitzgerald increased their price objective on shares of CareTrust REIT from $42.00 to $43.00 and gave the company a “neutral” rating in a report on Monday, August 10th. BMO Capital Markets dropped their price target on CareTrust REIT from $47.00 to $45.00 and set an “outperform” rating for the company in a research report on Monday. Citigroup reaffirmed a “market outperform” rating on shares of CareTrust REIT in a report on Wednesday, June 10th. KeyCorp reiterated an “overweight” rating on shares of CareTrust REIT in a research report on Wednesday, September 16th. Finally, Huntington initiated coverage on CareTrust REIT in a report on Thursday, September 10th. They issued an “outperform” rating and a $44.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, CareTrust REIT presently has an average rating of “Moderate Buy” and an average price target of $44.25.

CareTrust REIT Price Performance

NYSE CTRE traded up $0.15 during mid-day trading on Monday, hitting $36.35. The stock had a trading volume of 1,149,274 shares, compared to its average volume of 2,536,273. The firm’s 50 day moving average is $39.10 and its 200 day moving average is $39.40. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.57 and a quick ratio of 0.57. The stock has a market capitalization of $8.59 billion, a price-to-earnings ratio of 22.91, a PEG ratio of 1.42 and a beta of 0.75. CareTrust REIT has a twelve month low of $32.79 and a twelve month high of $43.62.

CareTrust REIT (NYSE:CTRE) last released its earnings results on Thursday, August 6th. The company reported $0.51 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.51. The business had revenue of $161.35 million during the quarter. CareTrust REIT had a net margin of 62.19% and a return on equity of 8.52%. CareTrust REIT has set its FY 2026 guidance at 2.030-2.060 EPS. Equities research analysts forecast that CareTrust REIT will post 2.06 earnings per share for the current fiscal year.

Institutional Investors Weigh In On CareTrust REIT

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Persistent Asset Partners Ltd acquired a new stake in shares of CareTrust REIT during the 2nd quarter worth about $31,000. Compass Financial Management LLC acquired a new position in CareTrust REIT in the second quarter valued at about $34,000. Burnham & Co LLC purchased a new position in CareTrust REIT during the second quarter worth about $61,000. Allworth Financial LP acquired a new stake in shares of CareTrust REIT during the second quarter valued at about $66,000. Finally, EverSource Wealth Advisors LLC increased its position in shares of CareTrust REIT by 63.0% during the first quarter. EverSource Wealth Advisors LLC now owns 2,199 shares of the company’s stock valued at $81,000 after acquiring an additional 850 shares during the last quarter. Hedge funds and other institutional investors own 87.77% of the company’s stock.

CareTrust REIT Company Profile

CareTrust REIT, Inc is a real estate investment trust that owns, acquires, develops, and leases healthcare-related properties. Its portfolio is primarily focused on skilled nursing facilities, assisted living communities, and other post-acute care properties operated by third-party healthcare providers.

The company generally leases its properties under long-term agreements, including triple-net leases, under which tenants are typically responsible for property-level expenses such as taxes, insurance, and maintenance.