Cantor Fitzgerald restated their buy rating on shares of Caretrust REIT (NASDAQ:CTRE) in a report issued on Monday morning. Cantor Fitzgerald currently has a $20.00 target price on the real estate investment trust’s stock.
“We rate CTRE 12-month price target of $20. We believe that the market underappreciates the skilled nursing opportunity and that CTRE is well positioned to capitalize on the consolidation of the skilled nursing market. In our view, the skilled nursing industry is well-positioned to provide post-acute care like short-stay rehab and capitalize on the increasingly value-based reimbursement market. 12-month price target of $20 is based on a blended approach of discounted cash flow analysis and comparable-company analysis.”,” the firm’s analyst wrote.
Other equities research analysts also recently issued research reports about the stock. KeyCorp raised their price objective on shares of Caretrust REIT from $16.00 to $20.00 and gave the company a buy rating in a research report on Tuesday, August 21st. BidaskClub upgraded shares of Caretrust REIT from a hold rating to a buy rating in a research report on Friday, August 17th. Zacks Investment Research upgraded shares of Caretrust REIT from a hold rating to a buy rating and set a $19.00 price objective for the company in a research report on Tuesday, July 10th. Royal Bank of Canada restated a hold rating and issued a $18.00 price objective (up previously from $16.00) on shares of Caretrust REIT in a research report on Thursday, August 9th. Finally, ValuEngine upgraded shares of Caretrust REIT from a sell rating to a hold rating in a research report on Tuesday, August 7th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company. The stock currently has a consensus rating of Hold and an average target price of $18.38.
Caretrust REIT (NASDAQ:CTRE) last released its quarterly earnings results on Wednesday, August 1st. The real estate investment trust reported $0.17 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.17. Caretrust REIT had a return on equity of 6.81% and a net margin of 28.26%. The firm had revenue of $38.97 million for the quarter, compared to analyst estimates of $38.44 million. During the same quarter last year, the company posted $0.30 earnings per share. The business’s revenue was up 18.7% on a year-over-year basis. Analysts predict that Caretrust REIT will post 1.28 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, October 15th. Investors of record on Friday, September 28th were given a $0.205 dividend. The ex-dividend date was Thursday, September 27th. This represents a $0.82 dividend on an annualized basis and a yield of 4.64%. Caretrust REIT’s payout ratio is currently 70.69%.
A number of large investors have recently made changes to their positions in the stock. Arizona State Retirement System lifted its position in Caretrust REIT by 6.0% in the third quarter. Arizona State Retirement System now owns 117,474 shares of the real estate investment trust’s stock valued at $2,080,000 after purchasing an additional 6,610 shares during the period. Russell Investments Group Ltd. lifted its position in shares of Caretrust REIT by 99.4% during the 3rd quarter. Russell Investments Group Ltd. now owns 42,670 shares of the real estate investment trust’s stock valued at $737,000 after acquiring an additional 21,270 shares during the period. First Trust Advisors LP lifted its position in shares of Caretrust REIT by 891.5% during the 3rd quarter. First Trust Advisors LP now owns 117,676 shares of the real estate investment trust’s stock valued at $2,084,000 after acquiring an additional 105,807 shares during the period. Strs Ohio lifted its position in shares of Caretrust REIT by 2.4% during the 3rd quarter. Strs Ohio now owns 132,050 shares of the real estate investment trust’s stock valued at $2,338,000 after acquiring an additional 3,150 shares during the period. Finally, Scout Investments Inc. lifted its position in shares of Caretrust REIT by 10.3% during the 3rd quarter. Scout Investments Inc. now owns 152,431 shares of the real estate investment trust’s stock valued at $2,700,000 after acquiring an additional 14,267 shares during the period. Hedge funds and other institutional investors own 88.14% of the company’s stock.
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: Ex-Dividend
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