Caretrust REIT (CTRE) Stock Rating Upgraded by Zacks Investment Research

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Caretrust REIT (NASDAQ:CTRE) was upgraded by Zacks Investment Research 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. “

CTRE has been the subject of a number of other research reports. BidaskClub downgraded Caretrust REIT from a “buy” rating to a “hold” rating in a report on Saturday, September 1st. ValuEngine upgraded Caretrust REIT from a “sell” rating to a “hold” rating in a report on Tuesday, August 7th. KeyCorp upped their target price on Caretrust REIT from $16.00 to $20.00 and gave the company a “buy” rating in a report on Tuesday, August 21st. Royal Bank of Canada restated a “hold” rating and set a $18.00 target price (up previously from $16.00) on shares of Caretrust REIT in a report on Thursday, August 9th. Finally, Cantor Fitzgerald restated a “buy” rating and set a $20.00 target price on shares of Caretrust REIT in a report on Monday, October 29th. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Caretrust REIT has an average rating of “Buy” and a consensus target price of $18.38.

Shares of Caretrust REIT stock traded up $0.34 during midday trading on Wednesday, reaching $19.30. 893,232 shares of the company’s stock traded hands, compared to its average volume of 670,236. The company has a quick ratio of 1.65, a current ratio of 1.65 and a debt-to-equity ratio of 0.85. The company has a market cap of $1.42 billion, a PE ratio of 16.64, a P/E/G ratio of 2.73 and a beta of 0.73. Caretrust REIT has a 12 month low of $12.73 and a 12 month high of $19.71.

Caretrust REIT (NASDAQ:CTRE) last announced its earnings results on Monday, November 5th. The real estate investment trust reported $0.18 EPS for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.14). The business had revenue of $39.50 million for the quarter, compared to the consensus estimate of $39.37 million. Caretrust REIT had a net margin of 28.26% and a return on equity of 6.81%. Caretrust REIT’s revenue was up 20.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.28 EPS. On average, research analysts anticipate that Caretrust REIT will post 1.28 earnings per share for the current year.

A number of hedge funds have recently modified their holdings of the stock. BlackRock Inc. grew its stake in Caretrust REIT by 15.0% in the second quarter. BlackRock Inc. now owns 14,967,382 shares of the real estate investment trust’s stock worth $249,805,000 after purchasing an additional 1,948,664 shares during the period. Millennium Management LLC grew its stake in shares of Caretrust REIT by 34.2% in the second quarter. Millennium Management LLC now owns 2,198,326 shares of the real estate investment trust’s stock worth $36,690,000 after acquiring an additional 560,210 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of Caretrust REIT by 61.7% in the second quarter. Bank of New York Mellon Corp now owns 1,867,666 shares of the real estate investment trust’s stock worth $31,171,000 after acquiring an additional 712,936 shares during the last quarter. American Century Companies Inc. grew its stake in shares of Caretrust REIT by 0.5% in the third quarter. American Century Companies Inc. now owns 1,134,440 shares of the real estate investment trust’s stock worth $20,091,000 after acquiring an additional 5,436 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in shares of Caretrust REIT by 3.5% in the second quarter. Dimensional Fund Advisors LP now owns 1,124,671 shares of the real estate investment trust’s stock worth $18,771,000 after acquiring an additional 37,941 shares during the last quarter. 88.30% of the stock is currently owned by institutional investors.

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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