CareTrust REIT (NASDAQ:CTRE) Earns Market Outperform Rating from Analysts at Citizens Jmp

Equities researchers at Citizens Jmp assumed coverage on shares of CareTrust REIT (NASDAQ:CTRE) in a report released on Thursday, Marketbeat.com reports. The brokerage set a “market outperform” rating and a $44.00 price target on the real estate investment trust’s stock. Citizens Jmp’s target price would indicate a potential upside of 17.74% from the company’s current price.

Other equities analysts have also issued reports about the company. Royal Bank Of Canada boosted their price target on CareTrust REIT from $36.00 to $41.00 and gave the stock an “outperform” rating in a research report on Monday, November 10th. Wells Fargo & Company boosted their target price on shares of CareTrust REIT from $38.00 to $41.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 25th. UBS Group raised their price target on shares of CareTrust REIT from $42.00 to $43.00 and gave the company a “buy” rating in a report on Thursday, January 8th. Cantor Fitzgerald initiated coverage on shares of CareTrust REIT in a report on Wednesday, October 1st. They issued a “neutral” rating and a $37.00 price objective on the stock. Finally, The Goldman Sachs Group set a $44.00 price objective on shares of CareTrust REIT in a research report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $39.00.

CareTrust REIT Trading Up 0.1%

Shares of CTRE opened at $37.37 on Thursday. The stock’s 50-day moving average is $36.89 and its two-hundred day moving average is $34.77. The stock has a market cap of $8.34 billion, a PE ratio of 47.30, a P/E/G ratio of 1.25 and a beta of 0.75. CareTrust REIT has a 12 month low of $24.79 and a 12 month high of $38.32. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.82 and a quick ratio of 3.82.

Hedge Funds Weigh In On CareTrust REIT

Several large investors have recently modified their holdings of CTRE. Royal Bank of Canada increased its holdings in CareTrust REIT by 36.4% in the first quarter. Royal Bank of Canada now owns 179,501 shares of the real estate investment trust’s stock valued at $5,129,000 after buying an additional 47,936 shares during the last quarter. NewEdge Advisors LLC grew its position in shares of CareTrust REIT by 11.3% in the 1st quarter. NewEdge Advisors LLC now owns 33,628 shares of the real estate investment trust’s stock worth $961,000 after acquiring an additional 3,408 shares in the last quarter. Parallel Advisors LLC increased its holdings in shares of CareTrust REIT by 109.5% in the 2nd quarter. Parallel Advisors LLC now owns 1,100 shares of the real estate investment trust’s stock valued at $34,000 after acquiring an additional 575 shares during the last quarter. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of CareTrust REIT during the 2nd quarter valued at approximately $343,000. Finally, GAMMA Investing LLC lifted its stake in CareTrust REIT by 42.9% during the second quarter. GAMMA Investing LLC now owns 4,469 shares of the real estate investment trust’s stock worth $137,000 after purchasing an additional 1,341 shares during the last quarter. Institutional investors own 87.77% of the company’s stock.

About CareTrust REIT

CareTrust REIT, Inc is a healthcare-focused real estate investment trust that acquires and manages net-leased properties serving the senior housing and medical markets. The company’s portfolio spans skilled nursing facilities, assisted living communities, independent living properties, medical office buildings and life science facilities. By structuring leases on a triple-net basis, CareTrust REIT offers long-term, stable rental income streams while allowing its tenants to operate and maintain their specialized healthcare facilities.

The company’s assets are geographically diversified across the United States, with a concentration in regions experiencing aging demographics and growing demand for senior care services.