Caretrust REIT (CTRE) Raised to Buy at Zacks Investment Research

Caretrust REIT (NASDAQ:CTRE) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday. The firm currently has a $22.00 price objective on the real estate investment trust’s stock. Zacks Investment Research‘s price target would indicate a potential upside of 6.95% from the stock’s current price.

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. “

Several other equities research analysts have also commented on CTRE. BMO Capital Markets upgraded Caretrust REIT from a “market perform” rating to an “outperform” rating in a research report on Wednesday, January 9th. BidaskClub upgraded Caretrust REIT from a “buy” rating to a “strong-buy” rating in a research report on Thursday, January 17th. ValuEngine raised Caretrust REIT from a “sell” rating to a “hold” rating in a research note on Tuesday, October 9th. Stifel Nicolaus raised Caretrust REIT from a “hold” rating to a “buy” rating and raised their target price for the stock from $17.00 to $21.00 in a research note on Wednesday, November 28th. 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. Two analysts have rated the stock with a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $19.71.

Shares of CTRE traded up $0.50 during trading hours on Wednesday, reaching $20.57. 1,011,714 shares of the company traded hands, compared to its average volume of 1,080,828. The firm has a market capitalization of $1.70 billion, a P/E ratio of 17.73 and a beta of 0.77. Caretrust REIT has a 12-month low of $12.73 and a 12-month high of $20.72. The company has a current ratio of 1.52, a quick 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 consensus estimate of $0.32 by ($0.14). The firm had revenue of $39.50 million during the quarter, compared to the consensus estimate of $39.37 million. Caretrust REIT had a net margin of 29.14% and a return on equity of 7.01%. The business’s revenue was up 20.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.28 earnings per share. Analysts predict that Caretrust REIT will post 1.28 earnings per share for the current year.

Institutional investors have recently added to or reduced their stakes in the stock. Strs Ohio increased its stake in Caretrust REIT by 9.5% during the fourth quarter. Strs Ohio now owns 144,595 shares of the real estate investment trust’s stock worth $2,669,000 after acquiring an additional 12,545 shares during the last quarter. Toth Financial Advisory Corp bought a new position in Caretrust REIT during the 4th quarter worth approximately $480,000. FNY Investment Advisers LLC bought a new position in Caretrust REIT during the 4th quarter worth approximately $39,000. Gagnon Securities LLC lifted its holdings in Caretrust REIT by 2.0% during the 4th quarter. Gagnon Securities LLC now owns 225,320 shares of the real estate investment trust’s stock worth $4,159,000 after buying an additional 4,357 shares during the last quarter. Finally, State of Alaska Department of Revenue lifted its holdings in Caretrust REIT by 5.4% during the 4th quarter. State of Alaska Department of Revenue now owns 55,191 shares of the real estate investment trust’s stock worth $1,017,000 after buying an additional 2,825 shares during the last quarter. Hedge funds and other institutional investors own 90.80% of the company’s stock.

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 192 net-leased healthcare properties and three operated seniors housing properties in 27 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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