Caretrust REIT (CTRE) Downgraded by Zacks Investment Research to Sell

Zacks Investment Research lowered shares of Caretrust REIT (NASDAQ:CTRE) from a hold rating to a sell rating in a research note issued to investors on Monday.

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. “

A number of other research analysts have also recently weighed in on CTRE. Stephens set a $19.00 target price on Caretrust REIT and gave the company a buy rating in a report on Friday, January 12th. Capital One Financial reiterated an equal weight rating and issued a $21.00 target price on shares of Caretrust REIT in a report on Sunday, October 22nd. Stifel Nicolaus reiterated a hold rating and issued a $19.00 target price (up previously from $17.00) on shares of Caretrust REIT in a report on Thursday, November 9th. BidaskClub cut Caretrust REIT from a hold rating to a sell rating in a report on Saturday, December 2nd. Finally, BMO Capital Markets restated a hold rating and set a $20.00 price objective on shares of Caretrust REIT in a research note on Thursday, November 9th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company. The stock presently has a consensus rating of Hold and a consensus target price of $19.78.

Shares of Caretrust REIT (CTRE) traded up $0.18 during trading on Monday, reaching $15.53. The company had a trading volume of 845,793 shares, compared to its average volume of 706,553. Caretrust REIT has a 52-week low of $14.71 and a 52-week high of $19.86. The firm has a market capitalization of $1,170.00, a PE ratio of 33.76, a P/E/G ratio of 2.40 and a beta of 0.67. 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 (NASDAQ:CTRE) last issued its earnings results on Wednesday, November 8th. The real estate investment trust reported $0.28 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.29 by ($0.01). Caretrust REIT had a net margin of 25.68% and a return on equity of 5.76%. The firm had revenue of $32.90 million during the quarter, compared to analyst estimates of $32.91 million. During the same quarter in the previous year, the business posted $0.28 EPS. Caretrust REIT’s revenue was up 21.4% compared to the same quarter last year. analysts predict that Caretrust REIT will post 1.16 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 16th. Shareholders of record on Friday, December 29th were paid a dividend of $0.185 per share. This represents a $0.74 dividend on an annualized basis and a dividend yield of 4.76%. The ex-dividend date was Thursday, December 28th. Caretrust REIT’s dividend payout ratio is presently 160.87%.

Institutional investors and hedge funds have recently modified their holdings of the business. Riverhead Capital Management LLC lifted its stake 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 worth $103,000 after purchasing an additional 2,629 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake 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 worth $116,000 after purchasing an additional 437 shares in the last quarter. Ameritas Investment Partners Inc. lifted its stake 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 worth $117,000 after purchasing an additional 975 shares in the last quarter. Pinebridge Investments L.P. lifted its stake in shares of Caretrust REIT by 10.7% during the second quarter. Pinebridge Investments L.P. now owns 9,558 shares of the real estate investment trust’s stock worth $177,000 after purchasing an additional 920 shares in the last quarter. Finally, Schroder Investment Management Group acquired a new position in shares of Caretrust REIT during the second quarter worth about $183,000. Institutional investors own 91.15% of the company’s stock.

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Caretrust REIT Company Profile

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.

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