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.
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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