Royal Bank Of Canada Reaffirms Sector Perform Rating for CareTrust REIT (NYSE:CTRE)

CareTrust REIT (NYSE:CTRE)‘s stock had its “sector perform” rating restated by equities research analysts at Royal Bank Of Canada in a research note issued on Monday, Benzinga reports. They presently have a $43.00 price target on the stock. Royal Bank Of Canada’s target price points to a potential upside of 17.63% from the stock’s current price.

A number of other brokerages have also recently issued reports on CTRE. Raymond James Financial cut their price objective 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. KeyCorp reiterated an “overweight” rating on shares of CareTrust REIT in a research report on Wednesday, September 16th. Cantor Fitzgerald boosted their price target on shares of CareTrust REIT from $42.00 to $43.00 and gave the stock a “neutral” rating in a research note on Monday, August 10th. BMO Capital Markets cut their price target on shares of CareTrust REIT from $47.00 to $45.00 and set an “outperform” rating for the company in a research report on Monday. Finally, Weiss Ratings upgraded shares of CareTrust REIT from a “buy (b)” rating to a “buy (b+)” rating in a research report on Friday, September 25th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $44.25.

CareTrust REIT Stock Performance

Shares of NYSE CTRE opened at $36.55 on Monday. The stock’s 50-day moving average is $38.98 and its 200 day moving average is $39.38. The stock has a market cap of $8.64 billion, a price-to-earnings ratio of 22.99, a P/E/G ratio of 1.42 and a beta of 0.75. CareTrust REIT has a 1-year low of $32.79 and a 1-year high of $43.62. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 0.27.

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 return on equity of 8.52% and a net margin of 62.19%.The business had revenue of $161.35 million during the quarter. CareTrust REIT has set its FY 2026 guidance at 2.030-2.060 EPS. On average, sell-side analysts anticipate that CareTrust REIT will post 2.06 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in CTRE. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in CareTrust REIT in the second quarter valued at $8,231,000. Greenland Capital Management LP bought a new position in CareTrust REIT in the 2nd quarter worth $9,684,000. Corient Private Wealth LP raised its holdings in CareTrust REIT by 76.2% in the 2nd quarter. Corient Private Wealth LP now owns 166,828 shares of the company’s stock worth $6,732,000 after purchasing an additional 72,137 shares in the last quarter. Hsbc Holdings PLC lifted its position in shares of CareTrust REIT by 17.2% in the 2nd quarter. Hsbc Holdings PLC now owns 478,410 shares of the company’s stock worth $19,334,000 after purchasing an additional 70,243 shares during the period. Finally, William Blair Investment Management LLC purchased a new stake in shares of CareTrust REIT in the 2nd quarter worth about $23,025,000. Institutional investors own 87.77% of the company’s stock.

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.