CareTrust REIT’s (CTRE) “Sector Perform” Rating Reaffirmed at Royal Bank Of Canada

CareTrust REIT (NYSE:CTRE)‘s stock had its “sector perform” rating reaffirmed by investment analysts at Royal Bank Of Canada in a report issued on Monday, Benzinga reports. They currently have a $43.00 target price on the stock. Royal Bank Of Canada’s price objective suggests a potential upside of 19.90% from the stock’s previous close.

CTRE has been the topic of several other reports. KeyCorp reiterated an “overweight” rating on shares of CareTrust REIT in a report on Wednesday, September 16th. Weiss Ratings upgraded shares of CareTrust REIT from a “buy (b)” rating to a “buy (b+)” rating in a research note on Friday, September 25th. Wells Fargo & Company lowered their target price on shares of CareTrust REIT from $47.00 to $44.00 and set an “overweight” rating for the company in a research note on Tuesday, September 1st. Raymond James Financial lowered their target price on shares of CareTrust REIT from $45.00 to $42.00 and set an “outperform” rating for the company in a research note on Monday. Finally, BMO Capital Markets lowered their target price on shares of CareTrust REIT from $47.00 to $45.00 and set an “outperform” rating for the company in a research note on Monday. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $44.25.

CareTrust REIT Stock Down 1.9%

CareTrust REIT stock traded down $0.69 during midday trading on Monday, hitting $35.86. 4,041,667 shares of the company’s stock were exchanged, compared to its average volume of 2,561,406. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.57 and a current ratio of 0.57. CareTrust REIT has a 12 month low of $32.79 and a 12 month high of $43.62. The firm has a 50-day moving average of $38.85 and a two-hundred day moving average of $39.36. The company has a market cap of $8.47 billion, a PE ratio of 22.56, a P/E/G ratio of 1.42 and a beta of 0.75.

CareTrust REIT (NYSE:CTRE) last issued its earnings results on Thursday, August 6th. The company reported $0.51 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.51. CareTrust REIT had a net margin of 62.19% and a return on equity of 8.52%. The company had revenue of $161.35 million for the quarter. CareTrust REIT has set its FY 2026 guidance at 2.030-2.060 EPS. As a group, analysts expect that CareTrust REIT will post 2.06 earnings per share for the current fiscal year.

Hedge Funds Weigh In On CareTrust REIT

A number of institutional investors have recently bought and sold shares of the business. BlackRock Inc. purchased a new position in CareTrust REIT during the 2nd quarter worth approximately $1,643,290,000. Deutsche Bank AG purchased a new position in CareTrust REIT during the 2nd quarter worth approximately $143,963,000. Dimensional Fund Advisors LP raised its position in CareTrust REIT by 1.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,333,252 shares of the company’s stock worth $122,164,000 after buying an additional 61,417 shares during the last quarter. Bank of New York Mellon Corp raised its position in CareTrust REIT by 5.2% during the 1st quarter. Bank of New York Mellon Corp now owns 2,558,104 shares of the company’s stock worth $93,755,000 after buying an additional 127,138 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in CareTrust REIT by 35,170.9% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,411,896 shares of the company’s stock worth $56,970,000 after buying an additional 1,407,893 shares during the last quarter. 87.77% of the stock is owned by hedge funds and other institutional investors.

About CareTrust REIT

CareTrust REIT, Inc is a real estate investment trust that owns, acquires, develops, and leases healthcare-related properties. Its portfolio is primarily focused on skilled nursing facilities, assisted living communities, and other post-acute care properties operated by third-party healthcare providers.

The company generally leases its properties under long-term agreements, including triple-net leases, under which tenants are typically responsible for property-level expenses such as taxes, insurance, and maintenance.