Caretrust REIT (NASDAQ:CTRE) Lifted to “Hold” at Zacks Investment Research

Zacks Investment Research upgraded shares of Caretrust REIT (NASDAQ:CTRE) from a strong sell rating to a hold rating in a research report released on Thursday, 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. “

Several other equities research analysts also recently weighed in on CTRE. Barclays started coverage on Caretrust REIT in a report on Tuesday, September 3rd. They set an overweight rating and a $26.00 price objective on the stock. ValuEngine downgraded Caretrust REIT from a buy rating to a hold rating in a report on Thursday, August 1st. Berenberg Bank started coverage on Caretrust REIT in a report on Thursday, September 12th. They set a buy rating and a $29.00 price objective on the stock. Capital One Financial raised Caretrust REIT from an equal weight rating to an overweight rating and set a $25.00 price objective on the stock in a report on Wednesday, August 21st. Finally, BMO Capital Markets reissued a buy rating and set a $26.00 price objective on shares of Caretrust REIT in a report on Wednesday, August 7th. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and a consensus target price of $25.22.

Shares of NASDAQ CTRE traded up $0.02 during mid-day trading on Thursday, hitting $23.57. 378,051 shares of the stock traded hands, compared to its average volume of 888,199. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.97 and a quick ratio of 0.97. Caretrust REIT has a twelve month low of $16.81 and a twelve month high of $25.54. The company has a market cap of $2.25 billion, a PE ratio of 18.41 and a beta of 0.67. The firm has a 50 day simple moving average of $23.55 and a two-hundred day simple moving average of $23.84.

Caretrust REIT (NASDAQ:CTRE) last released its quarterly earnings data on Tuesday, August 6th. The real estate investment trust reported $0.21 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.35 by ($0.14). Caretrust REIT had a net margin of 39.70% and a return on equity of 8.08%. The firm had revenue of $46.20 million for the quarter, compared to analyst estimates of $43.23 million. During the same period last year, the business earned $0.33 EPS. The company’s revenue was up 18.6% compared to the same quarter last year. On average, equities research analysts anticipate that Caretrust REIT will post 1.35 earnings per share for the current fiscal year.

The business also recently announced a — dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be issued a dividend of $0.225 per share. This represents a yield of 3.9%. The ex-dividend date of this dividend is Friday, September 27th. Caretrust REIT’s payout ratio is presently 70.31%.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Copper Rock Capital Partners LLC acquired a new position in Caretrust REIT during the 3rd quarter worth about $18,767,000. State of Alaska Department of Revenue lifted its holdings in Caretrust REIT by 16.7% during the 3rd quarter. State of Alaska Department of Revenue now owns 81,281 shares of the real estate investment trust’s stock worth $1,910,000 after buying an additional 11,626 shares during the period. Macquarie Group Ltd. lifted its holdings in Caretrust REIT by 80.4% during the 2nd quarter. Macquarie Group Ltd. now owns 46,900 shares of the real estate investment trust’s stock worth $1,115,000 after buying an additional 20,900 shares during the period. BlackRock Inc. lifted its holdings in Caretrust REIT by 9.8% during the 2nd quarter. BlackRock Inc. now owns 18,664,330 shares of the real estate investment trust’s stock worth $443,836,000 after buying an additional 1,666,016 shares during the period. Finally, Royal Bank of Canada lifted its holdings in Caretrust REIT by 105.5% during the 2nd quarter. Royal Bank of Canada now owns 32,283 shares of the real estate investment trust’s stock worth $768,000 after buying an additional 16,573 shares during the period. 88.59% of the stock is currently owned by hedge funds and other institutional investors.

Caretrust REIT Company Profile

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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