Caretrust REIT Inc (CTRE) Given Consensus Recommendation of “Buy” by Brokerages

Caretrust REIT Inc (NASDAQ:CTRE) has been assigned an average recommendation of “Buy” from the eleven analysts that are presently covering the stock, Marketbeat reports. Five equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $18.29.

Several brokerages have weighed in on CTRE. ValuEngine upgraded shares of Caretrust REIT from a “sell” rating to a “hold” rating in a research report on Tuesday, October 9th. BidaskClub lowered shares of Caretrust REIT from a “buy” rating to a “hold” rating in a research report on Saturday, September 1st. Zacks Investment Research upgraded shares of Caretrust REIT from a “sell” rating to a “hold” rating in a research report on Wednesday, August 22nd. Royal Bank of Canada reaffirmed a “hold” rating and issued a $18.00 price target (up previously from $16.00) on shares of Caretrust REIT in a report on Thursday, August 9th. Finally, Cantor Fitzgerald reaffirmed a “buy” rating and issued a $20.00 price target on shares of Caretrust REIT in a report on Monday, October 29th.

CTRE traded down $0.27 on Monday, hitting $19.22. 48,540 shares of the company were exchanged, compared to its average volume of 711,455. The company has a current ratio of 1.52, a quick ratio of 1.52 and a debt-to-equity ratio of 0.67. Caretrust REIT has a fifty-two week low of $12.73 and a fifty-two week high of $19.86. The firm has a market capitalization of $1.63 billion, a P/E ratio of 16.63, a PEG ratio of 3.05 and a beta of 0.73.

Caretrust REIT (NASDAQ:CTRE) last issued its earnings results on Monday, November 5th. The real estate investment trust reported $0.18 earnings per share for the quarter, missing the consensus estimate of $0.32 by ($0.14). Caretrust REIT had a return on equity of 7.01% and a net margin of 29.14%. The company had revenue of $39.50 million for the quarter, compared to analyst estimates of $39.37 million. During the same quarter in the previous year, the company posted $0.28 earnings per share. The company’s quarterly revenue was up 20.1% compared to the same quarter last year. Analysts predict that Caretrust REIT will post 1.28 EPS for the current year.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Meeder Asset Management Inc. lifted its holdings in shares of Caretrust REIT by 1,209.3% in the second quarter. Meeder Asset Management Inc. now owns 10,592 shares of the real estate investment trust’s stock valued at $177,000 after purchasing an additional 9,783 shares in the last quarter. Gagnon Securities LLC purchased a new position in shares of Caretrust REIT during the second quarter valued at approximately $201,000. Vident Investment Advisory LLC purchased a new position in shares of Caretrust REIT during the second quarter valued at approximately $208,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new position in shares of Caretrust REIT during the second quarter valued at approximately $269,000. Finally, Macquarie Group Ltd. lifted its stake in shares of Caretrust REIT by 25.8% during the second quarter. Macquarie Group Ltd. now owns 16,600 shares of the real estate investment trust’s stock valued at $277,000 after buying an additional 3,400 shares during the period. 85.86% of the stock is currently owned by institutional investors.

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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