Caretrust REIT (NASDAQ:CTRE) Lifted to “Hold” at Zacks Investment Research

Caretrust REIT (NASDAQ:CTRE) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research note issued to investors on Thursday, Zacks.com reports.

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. “

CTRE has been the topic of a number of other research reports. Barclays initiated coverage on shares of Caretrust REIT in a research note on Tuesday, September 3rd. They issued an “overweight” rating and a $26.00 price target on the stock. BidaskClub upgraded shares of Caretrust REIT from a “hold” rating to a “buy” rating in a research note on Friday, September 27th. BMO Capital Markets reiterated a “buy” rating and issued a $26.00 price target on shares of Caretrust REIT in a research note on Wednesday, August 7th. Berenberg Bank began coverage on shares of Caretrust REIT in a research note on Thursday, September 12th. They issued a “buy” rating and a $29.00 price target on the stock. Finally, Capital One Financial raised Caretrust REIT from an “equal weight” rating to an “overweight” rating and set a $25.00 target price for the company in a research report on Wednesday, August 21st. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Caretrust REIT currently has a consensus rating of “Buy” and a consensus price target of $25.22.

Shares of Caretrust REIT stock opened at $23.55 on Thursday. The stock has a market cap of $2.25 billion, a price-to-earnings ratio of 18.40 and a beta of 0.67. The firm’s 50-day moving average is $23.55 and its 200 day moving average is $23.84. Caretrust REIT has a 1 year low of $16.68 and a 1 year high of $25.54. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.97 and a quick ratio of 0.97.

Caretrust REIT (NASDAQ:CTRE) last announced its quarterly earnings results on Tuesday, August 6th. The real estate investment trust reported $0.21 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.35 by ($0.14). The firm had revenue of $46.20 million during the quarter, compared to the consensus estimate of $43.23 million. Caretrust REIT had a return on equity of 8.08% and a net margin of 39.70%. The business’s revenue for the quarter was up 18.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.33 EPS. On average, equities analysts expect that Caretrust REIT will post 1.35 EPS for the current fiscal year.

Large investors have recently modified their holdings of the business. Point72 Asset Management L.P. purchased a new position in Caretrust REIT in the 2nd quarter worth about $36,000. Westside Investment Management Inc. purchased a new position in Caretrust REIT in the 2nd quarter worth about $16,842,000. Nelson Van Denburg & Campbell Wealth Management Group LLC purchased a new position in Caretrust REIT in the 2nd quarter worth about $71,000. Meridian Wealth Management LLC purchased a new position in Caretrust REIT in the 2nd quarter worth about $95,000. Finally, Russell Investments Group Ltd. purchased a new position in Caretrust REIT in the 2nd quarter worth about $146,000. 88.57% of the stock is owned by institutional investors and hedge funds.

Caretrust REIT Company Profile

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 199 net-leased healthcare properties and three operated seniors housing properties in 27 states, CareTrust 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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