Zacks Investment Research upgraded shares of Caretrust REIT (NASDAQ:CTRE) from a sell rating to a hold rating in a report released on Wednesday.
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 analysts have also weighed in on the stock. Wells Fargo & Co upped their price objective on shares of Caretrust REIT from $18.50 to $22.00 and gave the stock an outperform rating in a research note on Tuesday. Stifel Nicolaus raised shares of Caretrust REIT from a hold rating to a buy rating and upped their price objective for the stock from $17.00 to $21.00 in a research note on Wednesday, November 28th. BidaskClub raised shares of Caretrust REIT from a buy rating to a strong-buy rating in a research note on Thursday, November 8th. Cantor Fitzgerald reaffirmed a buy rating and issued a $20.00 price objective on shares of Caretrust REIT in a research note on Monday, November 5th. Finally, ValuEngine raised shares of Caretrust REIT from a sell rating to a hold rating in a research report on Tuesday, October 9th. Four equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of Buy and an average target price of $19.25.
NASDAQ:CTRE opened at $20.16 on Wednesday. Caretrust REIT has a 1-year low of $12.73 and a 1-year high of $20.65. The stock has a market capitalization of $1.69 billion, a P/E ratio of 17.38, a price-to-earnings-growth ratio of 3.16 and a beta of 0.76. The company has a quick ratio of 1.52, a current ratio of 1.52 and a debt-to-equity ratio of 0.67.
Caretrust REIT (NASDAQ:CTRE) last released its quarterly earnings data on Monday, November 5th. The real estate investment trust reported $0.18 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.32 by ($0.14). Caretrust REIT had a return on equity of 7.01% and a net margin of 29.14%. The business had revenue of $39.50 million during the quarter, compared to analysts’ expectations of $39.37 million. During the same period last year, the company earned $0.28 earnings per share. The firm’s revenue was up 20.1% compared to the same quarter last year. Analysts predict that Caretrust REIT will post 1.28 earnings per share for the current fiscal year.
Several hedge funds have recently added to or reduced their stakes in CTRE. Principal Financial Group Inc. lifted its position in shares of Caretrust REIT by 3.1% during the first quarter. Principal Financial Group Inc. now owns 683,847 shares of the real estate investment trust’s stock valued at $9,163,000 after buying an additional 20,416 shares during the last quarter. Aperio Group LLC raised its position in shares of Caretrust REIT by 26.5% in the 2nd quarter. Aperio Group LLC now owns 21,699 shares of the real estate investment trust’s stock valued at $362,000 after purchasing an additional 4,543 shares during the last quarter. Raymond James Financial Services Advisors Inc. purchased a new position in shares of Caretrust REIT in the 2nd quarter valued at approximately $424,000. Los Angeles Capital Management & Equity Research Inc. purchased a new position in shares of Caretrust REIT in the 2nd quarter valued at approximately $1,610,000. Finally, Wells Fargo & Company MN raised its position in shares of Caretrust REIT by 112.1% in the 2nd quarter. Wells Fargo & Company MN now owns 511,822 shares of the real estate investment trust’s stock valued at $8,542,000 after purchasing an additional 270,554 shares during the last quarter. 90.85% of the stock is owned by institutional investors and hedge funds.
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 189 net-leased healthcare properties and three operated seniors housing properties in 25 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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