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

Zacks Investment Research upgraded shares of Caretrust REIT (NASDAQ:CTRE) from a sell rating to a hold rating in a research note released on Friday.

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. “

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A number of other brokerages also recently commented on CTRE. BidaskClub downgraded shares of Caretrust REIT from a hold rating to a sell rating in a research note on Saturday, December 2nd. Wells Fargo raised shares of Caretrust REIT from a market perform rating to an outperform rating and set a $20.00 price objective for the company in a research note on Tuesday, December 19th. Stephens set a $19.00 price objective on shares of Caretrust REIT and gave the stock a buy rating in a research note on Friday, January 12th. ValuEngine downgraded shares of Caretrust REIT from a buy rating to a hold rating in a research note on Friday, February 2nd. Finally, Stifel Nicolaus set a $17.00 price objective on shares of Caretrust REIT and gave the stock a hold rating in a research note on Wednesday, February 28th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the stock. The stock has a consensus rating of Hold and a consensus price target of $18.00.

Shares of NASDAQ CTRE opened at $13.40 on Friday. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.94. The company has a market capitalization of $1,020.25, a P/E ratio of 11.55, a PEG ratio of 2.09 and a beta of 0.74. Caretrust REIT has a 52-week low of $12.96 and a 52-week high of $19.86.

Caretrust REIT (NASDAQ:CTRE) last issued its quarterly earnings data on Tuesday, February 27th. The real estate investment trust reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.28). The business had revenue of $36.60 million during the quarter, compared to the consensus estimate of $34.73 million. Caretrust REIT had a return on equity of 4.37% and a net margin of 19.46%. analysts anticipate that Caretrust REIT will post 1.28 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 13th. Stockholders of record on Friday, March 30th will be given a dividend of $0.205 per share. The ex-dividend date of this dividend is Wednesday, March 28th. This is an increase from Caretrust REIT’s previous quarterly dividend of $0.19. This represents a $0.82 dividend on an annualized basis and a dividend yield of 6.12%. Caretrust REIT’s dividend payout ratio is presently 70.69%.

Several hedge funds have recently modified their holdings of the company. Los Angeles Capital Management & Equity Research Inc. increased its position in shares of Caretrust REIT by 17.7% during the third quarter. Los Angeles Capital Management & Equity Research Inc. now owns 19,952 shares of the real estate investment trust’s stock worth $380,000 after purchasing an additional 3,002 shares in the last quarter. Strs Ohio increased its position in shares of Caretrust REIT by 2.8% during the fourth quarter. Strs Ohio now owns 119,500 shares of the real estate investment trust’s stock worth $2,002,000 after purchasing an additional 3,253 shares in the last quarter. American International Group Inc. increased its position in shares of Caretrust REIT by 6.5% during the third quarter. American International Group Inc. now owns 57,557 shares of the real estate investment trust’s stock worth $1,096,000 after purchasing an additional 3,507 shares in the last quarter. Comerica Bank increased its position in shares of Caretrust REIT by 5.2% during the third quarter. Comerica Bank now owns 80,095 shares of the real estate investment trust’s stock worth $1,530,000 after purchasing an additional 3,939 shares in the last quarter. Finally, Wells Fargo & Company MN increased its position in shares of Caretrust REIT by 2.0% during the third quarter. Wells Fargo & Company MN now owns 206,262 shares of the real estate investment trust’s stock worth $3,927,000 after purchasing an additional 4,131 shares in the last quarter. 91.41% of the stock is currently owned by institutional investors and hedge funds.

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Caretrust REIT Company Profile

CareTrust REIT, Inc is a self-administered, self-managed real estate investment trust. The Company is engaged in the ownership, acquisition and leasing of healthcare-related properties. It makes investments in healthcare-related real estate assets. As of December 31, 2016, its real estate portfolio included 154 skilled nursing facilities (SNFs), SNF Campuses, assisted living facilities and independent living facilities.

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