Caretrust REIT (NASDAQ:CTRE) Downgraded to Sell at BidaskClub

BidaskClub downgraded shares of Caretrust REIT (NASDAQ:CTRE) from a hold rating to a sell rating in a research report sent to investors on Saturday, BidAskClub reports.

A number of other equities research analysts also recently issued reports on CTRE. BMO Capital Markets reissued a buy rating and set a $26.00 price target on shares of Caretrust REIT in a research report on Wednesday, August 7th. Zacks Investment Research raised Caretrust REIT from a hold rating to a buy rating and set a $25.00 target price on the stock in a report on Wednesday. Berenberg Bank initiated coverage on Caretrust REIT in a report on Thursday, September 12th. They issued a buy rating and a $29.00 target price on the stock. ValuEngine downgraded Caretrust REIT from a buy rating to a hold rating in a report on Thursday, August 1st. Finally, Barclays initiated coverage on Caretrust REIT in a report on Tuesday, September 3rd. They issued an overweight rating and a $26.00 target price on the stock. One analyst has rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the company. The company has an average rating of Buy and a consensus price target of $25.50.

CTRE traded down $0.96 on Friday, hitting $20.51. 3,289,200 shares of the company were exchanged, compared to its average volume of 886,366. The company has a market cap of $2.16 billion, a PE ratio of 16.02 and a beta of 0.66. Caretrust REIT has a 12 month low of $17.71 and a 12 month high of $25.54. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.97 and a current ratio of 0.97. The stock’s fifty day moving average is $23.52 and its 200-day moving average is $23.84.

Caretrust REIT (NASDAQ:CTRE) last issued its quarterly earnings results on Thursday, November 7th. The real estate investment trust reported ($0.11) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.34 by ($0.45). The company had revenue of $33.31 million for the quarter, compared to analyst estimates of $43.64 million. Caretrust REIT had a return on equity of 8.08% and a net margin of 39.70%. The company’s quarterly revenue was down 15.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.32 EPS. As a group, equities research analysts expect that Caretrust REIT will post 1.37 EPS for the current fiscal year.

The firm also recently announced a — dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were issued a $0.225 dividend. This represents a dividend yield of 3.9%. The ex-dividend date was Friday, September 27th. Caretrust REIT’s dividend payout ratio is presently 70.31%.

Institutional investors and hedge funds have recently made changes to their positions in the company. Point72 Asset Management L.P. bought a new position in shares of Caretrust REIT in the 2nd quarter valued at $36,000. Nelson Van Denburg & Campbell Wealth Management Group LLC bought a new position in shares of Caretrust REIT in the 2nd quarter valued at $71,000. Meridian Wealth Management LLC bought a new position in Caretrust REIT during the 2nd quarter worth $95,000. Russell Investments Group Ltd. bought a new position in Caretrust REIT during the 2nd quarter worth $146,000. Finally, Nvwm LLC bought a new position in Caretrust REIT during the 2nd quarter worth $151,000. Institutional investors own 89.83% of the company’s stock.

About Caretrust REIT

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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Analyst Recommendations for Caretrust REIT (NASDAQ:CTRE)

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