Caretrust REIT (NASDAQ:CTRE) had its price target cut by Wells Fargo & Co from $24.00 to $20.00 in a note issued to investors on Thursday, BenzingaRatingsTable reports. The brokerage currently has an “overweight” rating on the real estate investment trust’s stock. Wells Fargo & Co‘s price objective would suggest a potential upside of 26.10% from the stock’s previous close.

A number of other analysts have also weighed in on CTRE. BidaskClub lowered shares of Caretrust REIT from a “hold” rating to a “sell” rating in a research note on Thursday, March 19th. Mizuho initiated coverage on shares of Caretrust REIT in a report on Thursday, December 19th. They set an “underperform” rating on the stock. Berenberg Bank downgraded shares of Caretrust REIT from a “buy” rating to a “hold” rating and set a $24.00 price target on the stock. in a report on Friday, February 28th. BMO Capital Markets downgraded shares of Caretrust REIT from an “outperform” rating to a “market perform” rating and lowered their price target for the stock from $26.00 to $22.00 in a report on Tuesday, January 7th. Finally, Zacks Investment Research downgraded shares of Caretrust REIT from a “hold” rating to a “sell” rating in a report on Friday, January 3rd. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $24.13.

Caretrust REIT stock traded up $0.53 during mid-day trading on Thursday, reaching $15.86. 7,458 shares of the company traded hands, compared to its average volume of 1,458,452. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.53 and a quick ratio of 1.53. Caretrust REIT has a fifty-two week low of $7.16 and a fifty-two week high of $25.54. The company has a market capitalization of $1.42 billion, a price-to-earnings ratio of 31.52 and a beta of 0.73. The firm’s fifty day moving average is $19.60 and its two-hundred day moving average is $21.38.

Institutional investors have recently added to or reduced their stakes in the stock. FMR LLC boosted its stake in shares of Caretrust REIT by 70.5% in the fourth quarter. FMR LLC now owns 5,546,279 shares of the real estate investment trust’s stock valued at $114,420,000 after purchasing an additional 2,293,115 shares during the period. State Street Corp lifted its stake in Caretrust REIT by 0.6% in the third quarter. State Street Corp now owns 3,946,791 shares of the real estate investment trust’s stock worth $93,653,000 after acquiring an additional 22,020 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in Caretrust REIT by 40.7% in the fourth quarter. Bank of New York Mellon Corp now owns 3,461,019 shares of the real estate investment trust’s stock worth $71,401,000 after acquiring an additional 1,001,693 shares during the last quarter. Brookfield Public Securities Group LLC purchased a new position in Caretrust REIT in the fourth quarter worth approximately $68,943,000. Finally, Victory Capital Management Inc. lifted its stake in Caretrust REIT by 66.3% in the fourth quarter. Victory Capital Management Inc. now owns 1,405,697 shares of the real estate investment trust’s stock worth $29,000,000 after acquiring an additional 560,572 shares during the last quarter. Hedge funds and other institutional investors own 93.80% 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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Analyst Recommendations for Caretrust REIT (NASDAQ:CTRE)

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