Caretrust REIT (CTRE) Raised to “Strong-Buy” at BidaskClub

Caretrust REIT (NASDAQ:CTRE) was upgraded by equities researchers at BidaskClub from a “buy” rating to a “strong-buy” rating in a report released on Thursday.

Other equities research analysts have also issued reports about the stock. ValuEngine upgraded shares of Caretrust REIT from a “sell” rating to a “hold” rating in a research report on Tuesday, October 9th. Zacks Investment Research lowered shares of Caretrust REIT from a “hold” rating to a “sell” rating in a research report on Monday, August 6th. Royal Bank of Canada reiterated a “hold” rating and set a $18.00 target price (up from $16.00) on shares of Caretrust REIT in a research report on Thursday, August 9th. Finally, Cantor Fitzgerald restated a “buy” rating and issued a $20.00 price objective on shares of Caretrust REIT in a report on Monday, October 29th. Five equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. Caretrust REIT has a consensus rating of “Buy” and a consensus price target of $18.38.

Caretrust REIT stock traded up $0.36 during mid-day trading on Thursday, hitting $19.66. 967,676 shares of the company traded hands, compared to its average volume of 671,606. Caretrust REIT has a one year low of $12.73 and a one year high of $19.67. The firm has a market cap of $1.59 billion, a PE ratio of 16.95, a PEG ratio of 2.97 and a beta of 0.73. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.52 and a quick ratio of 1.65.

Caretrust REIT (NASDAQ:CTRE) last announced its earnings results on Monday, November 5th. The real estate investment trust reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by ($0.14). Caretrust REIT had a net margin of 29.14% and a return on equity of 7.01%. The company had revenue of $39.50 million for the quarter, compared to the consensus estimate of $39.37 million. During the same quarter in the previous year, the firm earned $0.28 earnings per share. The company’s revenue for the quarter was up 20.1% compared to the same quarter last year. As a group, research analysts anticipate that Caretrust REIT will post 1.27 earnings per share for the current year.

Institutional investors and hedge funds have recently made changes to their positions in the company. Brown Advisory Inc. bought a new stake in shares of Caretrust REIT in the 1st quarter worth approximately $135,000. Meeder Asset Management Inc. lifted its holdings in shares of Caretrust REIT by 1,209.3% in the 2nd quarter. Meeder Asset Management Inc. now owns 10,592 shares of the real estate investment trust’s stock worth $177,000 after acquiring an additional 9,783 shares during the last quarter. Gagnon Securities LLC bought a new stake in shares of Caretrust REIT in the 2nd quarter worth approximately $201,000. Vident Investment Advisory LLC bought a new stake in shares of Caretrust REIT in the 2nd quarter worth approximately $208,000. Finally, WINTON GROUP Ltd lifted its holdings in shares of Caretrust REIT by 33.2% in the 3rd quarter. WINTON GROUP Ltd now owns 15,882 shares of the real estate investment trust’s stock worth $281,000 after acquiring an additional 3,958 shares during the last quarter. Hedge funds and other institutional investors own 88.30% 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 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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Analyst Recommendations for Caretrust REIT (NASDAQ:CTRE)

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