Analysts Set CareTrust REIT, Inc. (CTRE) Target Price at $19.38

Shares of CareTrust REIT, Inc. (NASDAQ:CTRE) have been given an average rating of “Buy” by the eleven ratings firms that are covering the company, Marketbeat Ratings reports. Five analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $19.38.

Several brokerages have commented on CTRE. Stifel Nicolaus restated a “hold” rating and issued a $19.00 price objective (up from $17.00) on shares of CareTrust REIT in a report on Thursday, November 9th. KeyCorp restated a “buy” rating and issued a $20.00 price objective on shares of CareTrust REIT in a report on Friday, August 25th. Capital One Financial Corporation began coverage on shares of CareTrust REIT in a report on Monday, October 23rd. They issued an “equal weight” rating and a $21.00 price objective for the company. Zacks Investment Research upgraded shares of CareTrust REIT from a “sell” rating to a “hold” rating in a report on Tuesday, September 19th. Finally, BidaskClub upgraded shares of CareTrust REIT from a “hold” rating to a “buy” rating in a report on Saturday, August 19th.

Shares of CareTrust REIT (CTRE) traded down $0.04 on Thursday, reaching $18.64. 394,967 shares of the company’s stock traded hands, compared to its average volume of 372,152. The company has a quick ratio of 1.60, a current ratio of 1.60 and a debt-to-equity ratio of 0.81. CareTrust REIT has a twelve month low of $13.57 and a twelve month high of $19.86. The stock has a market capitalization of $1,415.20, a price-to-earnings ratio of 16.07, a PEG ratio of 3.98 and a beta of 0.83.

CareTrust REIT (NASDAQ:CTRE) last issued its quarterly earnings data on Wednesday, November 8th. The real estate investment trust reported $0.28 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.29 by ($0.01). CareTrust REIT had a return on equity of 5.76% and a net margin of 25.68%. The company had revenue of $32.90 million during the quarter, compared to analysts’ expectations of $32.91 million. During the same quarter last year, the business earned $0.28 earnings per share. The business’s quarterly revenue was up 21.4% on a year-over-year basis. analysts anticipate that CareTrust REIT will post 1.17 earnings per share for the current fiscal year.

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Hedge funds have recently added to or reduced their stakes in the company. Riverhead Capital Management LLC lifted its holdings in shares of CareTrust REIT by 90.7% during the second quarter. Riverhead Capital Management LLC now owns 5,529 shares of the real estate investment trust’s stock valued at $103,000 after purchasing an additional 2,629 shares during the last quarter. GAM Holding AG lifted its holdings in shares of CareTrust REIT by 19.6% during the second quarter. GAM Holding AG now owns 6,100 shares of the real estate investment trust’s stock valued at $113,000 after purchasing an additional 1,000 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of CareTrust REIT by 7.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,277 shares of the real estate investment trust’s stock valued at $116,000 after purchasing an additional 437 shares during the last quarter. Ameritas Investment Partners Inc. lifted its holdings in shares of CareTrust REIT by 18.2% during the second quarter. Ameritas Investment Partners Inc. now owns 6,329 shares of the real estate investment trust’s stock valued at $117,000 after purchasing an additional 975 shares during the last quarter. Finally, Daiwa Securities Group Inc. lifted its holdings in shares of CareTrust REIT by 24.5% during the second quarter. Daiwa Securities Group Inc. now owns 6,606 shares of the real estate investment trust’s stock valued at $122,000 after purchasing an additional 1,300 shares during the last quarter. Hedge funds and other institutional investors own 91.41% of the company’s stock.

About CareTrust REIT

CareTrust REIT, Inc is a self-administered, self-managed real estate investment trust. The Company is engaged in the ownership, acquisition and leasing of healthcare-related properties. It makes investments in healthcare-related real estate assets. As of December 31, 2016, its real estate portfolio included 154 skilled nursing facilities (SNFs), SNF Campuses, assisted living facilities and independent living facilities.

Analyst Recommendations for CareTrust REIT (NASDAQ:CTRE)

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