Caretrust REIT (CTRE) Sets New 1-Year High at $24.09

Caretrust REIT Inc (NASDAQ:CTRE) shares reached a new 52-week high on Wednesday . The company traded as high as $24.09 and last traded at $23.97, with a volume of 14911 shares changing hands. The stock had previously closed at $23.71.

CTRE has been the subject of a number of recent analyst reports. Raymond James raised shares of Caretrust REIT from an “outperform” rating to a “strong-buy” rating in a report on Tuesday, January 8th. Wells Fargo & Co lifted their target price on shares of Caretrust REIT from $18.50 to $22.00 and gave the company an “outperform” rating in a research report on Tuesday, December 4th. Zacks Investment Research upgraded shares of Caretrust REIT from a “sell” rating to a “hold” rating in a research report on Wednesday, December 5th. BMO Capital Markets reiterated a “buy” rating and issued a $22.00 target price on shares of Caretrust REIT in a research report on Thursday, February 14th. Finally, ValuEngine upgraded shares of Caretrust REIT from a “hold” rating to a “buy” rating in a research report on Saturday, December 15th. One research analyst has rated the stock with a sell rating, two have given a hold rating, five have issued a buy rating and two have issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $20.71.

The stock has a market cap of $2.13 billion, a PE ratio of 18.73 and a beta of 0.91. The company has a current ratio of 3.02, a quick ratio of 3.02 and a debt-to-equity ratio of 0.64.

Caretrust REIT (NASDAQ:CTRE) last announced its earnings results on Wednesday, February 13th. The real estate investment trust reported $0.18 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.32 by ($0.14). Caretrust REIT had a net margin of 36.91% and a return on equity of 8.52%. The company had revenue of $40.36 million during the quarter, compared to analyst estimates of $39.99 million. During the same quarter last year, the business earned $0.31 EPS. The firm’s revenue for the quarter was up 10.3% compared to the same quarter last year. Research analysts expect that Caretrust REIT Inc will post 1.35 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Bank of New York Mellon Corp boosted its holdings in Caretrust REIT by 61.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,867,666 shares of the real estate investment trust’s stock valued at $31,171,000 after purchasing an additional 712,936 shares during the last quarter. State of Alaska Department of Revenue boosted its holdings in Caretrust REIT by 5.4% in the 4th quarter. State of Alaska Department of Revenue now owns 55,191 shares of the real estate investment trust’s stock valued at $1,017,000 after purchasing an additional 2,825 shares during the last quarter. MetLife Investment Advisors LLC boosted its holdings in Caretrust REIT by 56.5% in the 3rd quarter. MetLife Investment Advisors LLC now owns 53,357 shares of the real estate investment trust’s stock valued at $945,000 after purchasing an additional 19,254 shares during the last quarter. Macquarie Group Ltd. boosted its holdings in Caretrust REIT by 56.6% in the 3rd quarter. Macquarie Group Ltd. now owns 26,000 shares of the real estate investment trust’s stock valued at $460,000 after purchasing an additional 9,400 shares during the last quarter. Finally, Strs Ohio boosted its holdings in Caretrust REIT by 9.5% in the 4th quarter. Strs Ohio now owns 144,595 shares of the real estate investment trust’s stock valued at $2,669,000 after purchasing an additional 12,545 shares during the last quarter. Hedge funds and other institutional investors own 87.24% of the company’s stock.

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About Caretrust REIT (NASDAQ:CTRE)

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 192 net-leased healthcare properties and three operated seniors housing properties in 27 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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