Caretrust REIT (CTRE) Raised to Hold at ValuEngine

Share on StockTwits

ValuEngine upgraded shares of Caretrust REIT (NASDAQ:CTRE) from a sell rating to a hold rating in a research report report published on Tuesday morning.

Several other equities research analysts also recently commented on the stock. Zacks Investment Research raised shares of Caretrust REIT from a hold rating to a buy rating and set a $19.00 target price for the company in a research note on Friday, October 5th. BidaskClub downgraded shares of Caretrust REIT from a buy rating to a hold rating in a research note on Saturday, September 1st. KeyCorp upped their target price on shares of Caretrust REIT from $16.00 to $20.00 and gave the company a buy rating in a research note on Tuesday, August 21st. Finally, Royal Bank of Canada reaffirmed a hold rating and issued a $18.00 target price (up previously from $16.00) on shares of Caretrust REIT in a research note on Thursday, August 9th. Seven investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company presently has an average rating of Hold and an average target price of $18.22.

NASDAQ:CTRE traded down $0.17 during trading hours on Tuesday, hitting $16.80. The stock had a trading volume of 606,979 shares, compared to its average volume of 669,264. Caretrust REIT has a one year low of $12.73 and a one year high of $19.76. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.65 and a current ratio of 1.65. The company has a market capitalization of $1.43 billion, a PE ratio of 14.48, a PEG ratio of 2.75 and a beta of 0.82.

Caretrust REIT (NASDAQ:CTRE) last issued its earnings results on Wednesday, August 1st. The real estate investment trust reported $0.17 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.17. Caretrust REIT had a net margin of 28.26% and a return on equity of 6.81%. The firm had revenue of $38.97 million during the quarter, compared to the consensus estimate of $38.44 million. During the same quarter in the prior year, the firm earned $0.30 earnings per share. The business’s quarterly revenue was up 18.7% on a year-over-year basis. On average, sell-side analysts forecast that Caretrust REIT will post 1.29 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 15th. Stockholders of record on Friday, September 28th will be given a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a dividend yield of 4.88%. The ex-dividend date of this dividend is Thursday, September 27th. Caretrust REIT’s dividend payout ratio is 70.69%.

Several hedge funds have recently modified their holdings of CTRE. SG Americas Securities LLC increased its position in shares of Caretrust REIT by 83.6% during the first quarter. SG Americas Securities LLC now owns 12,555 shares of the real estate investment trust’s stock worth $168,000 after acquiring an additional 5,716 shares in the last quarter. Schwab Charles Investment Management Inc. increased its position in shares of Caretrust REIT by 7.8% during the first quarter. Schwab Charles Investment Management Inc. now owns 393,479 shares of the real estate investment trust’s stock worth $5,273,000 after acquiring an additional 28,470 shares in the last quarter. Northern Trust Corp increased its position in shares of Caretrust REIT by 4.8% during the first quarter. Northern Trust Corp now owns 1,385,675 shares of the real estate investment trust’s stock worth $18,568,000 after acquiring an additional 63,860 shares in the last quarter. BlackRock Inc. increased its position in shares of Caretrust REIT by 13.9% during the first quarter. BlackRock Inc. now owns 13,018,718 shares of the real estate investment trust’s stock worth $174,452,000 after acquiring an additional 1,589,055 shares in the last quarter. Finally, New York State Common Retirement Fund increased its position in shares of Caretrust REIT by 6.4% during the first quarter. New York State Common Retirement Fund now owns 82,000 shares of the real estate investment trust’s stock worth $1,099,000 after acquiring an additional 4,900 shares in the last quarter. 88.07% of the stock is owned by institutional investors.

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 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.

Further Reading: Understanding Stock Ratings

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Caretrust REIT (NASDAQ:CTRE)

Receive News & Ratings for Caretrust REIT Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Caretrust REIT and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply