Caretrust REIT (CTRE) Downgraded by Zacks Investment Research to “Hold”

Zacks Investment Research lowered shares of Caretrust REIT (NASDAQ:CTRE) from a buy rating to a hold rating in a report released on Tuesday morning, Zacks.com reports.

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. “

Other research analysts also recently issued research reports about the company. BidaskClub downgraded Caretrust REIT from a strong-buy rating to a buy rating in a report on Thursday, April 4th. Stifel Nicolaus set a $26.00 price objective on Caretrust REIT and gave the stock a buy rating in a report on Wednesday, May 8th. Finally, BMO Capital Markets upped their price objective on Caretrust REIT from $22.00 to $25.00 and gave the stock an outperform rating in a report on Tuesday, April 9th. Two analysts have rated the stock with a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Caretrust REIT has an average rating of Buy and an average price target of $22.71.

NASDAQ:CTRE opened at $25.31 on Tuesday. Caretrust REIT has a 52-week low of $15.12 and a 52-week high of $25.54. The company has a debt-to-equity ratio of 0.84, a quick ratio of 15.94 and a current ratio of 15.94. The firm has a market cap of $2.41 billion, a price-to-earnings ratio of 19.57 and a beta of 0.91.

Caretrust REIT (NASDAQ:CTRE) last posted its quarterly earnings data on Tuesday, May 7th. 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 return on equity of 8.08% and a net margin of 37.46%. The firm had revenue of $39.66 million for the quarter, compared to analyst estimates of $40.79 million. During the same period in the prior year, the company posted $0.32 EPS. The firm’s quarterly revenue was up 4.1% compared to the same quarter last year. On average, analysts expect that Caretrust REIT will post 1.39 earnings per share for the current year.

Several institutional investors have recently modified their holdings of CTRE. Federated Investors Inc. PA bought a new stake in shares of Caretrust REIT during the 1st quarter valued at $27,000. Oregon Public Employees Retirement Fund bought a new stake in shares of Caretrust REIT during the 4th quarter valued at $32,000. Loomis Sayles & Co. L P raised its position in shares of Caretrust REIT by 125.4% during the 1st quarter. Loomis Sayles & Co. L P now owns 1,492 shares of the real estate investment trust’s stock valued at $35,000 after acquiring an additional 830 shares during the last quarter. FNY Investment Advisers LLC bought a new stake in shares of Caretrust REIT during the 4th quarter valued at $39,000. Finally, First Interstate Bank bought a new stake in shares of Caretrust REIT during the 4th quarter valued at $48,000. Institutional investors own 89.13% 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 199 net-leased healthcare properties and three operated seniors housing properties in 27 states, CareTrust 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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