CareTrust REIT (NYSE:CTRE) Upgraded to Hold at Zacks Research

CareTrust REIT (NYSE:CTRE) was upgraded by analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a report issued on Monday,Zacks.com reports.

Several other analysts have also issued reports on the stock. Mizuho set a $45.00 price target on shares of CareTrust REIT in a research report on Friday. UBS Group upped their target price on shares of CareTrust REIT from $44.00 to $48.00 and gave the stock a “buy” rating in a report on Wednesday, February 18th. Cantor Fitzgerald upped their target price on shares of CareTrust REIT from $37.00 to $42.00 and gave the stock a “neutral” rating in a report on Tuesday, February 17th. Wells Fargo & Company upped their target price on shares of CareTrust REIT from $41.00 to $42.00 and gave the stock an “overweight” rating in a report on Thursday, March 26th. Finally, Royal Bank Of Canada upped their target price on shares of CareTrust REIT from $41.00 to $44.00 and gave the stock an “outperform” rating in a report on Tuesday, February 24th. Three investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, CareTrust REIT has an average rating of “Buy” and a consensus price target of $43.09.

CareTrust REIT Stock Performance

NYSE CTRE opened at $41.99 on Monday. The company’s 50 day moving average is $39.31 and its 200-day moving average is $38.28. CareTrust REIT has a 12-month low of $27.81 and a 12-month high of $43.08. The company has a quick ratio of 2.37, a current ratio of 2.38 and a debt-to-equity ratio of 0.22. The firm has a market cap of $9.92 billion, a P/E ratio of 26.92, a price-to-earnings-growth ratio of 2.72 and a beta of 0.76.

Institutional Trading of CareTrust REIT

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Principal Financial Group Inc. grew its stake in CareTrust REIT by 7.5% in the 4th quarter. Principal Financial Group Inc. now owns 1,328,660 shares of the company’s stock worth $48,044,000 after buying an additional 93,101 shares in the last quarter. Aberdeen Group plc grew its stake in CareTrust REIT by 22.1% in the 3rd quarter. Aberdeen Group plc now owns 84,824 shares of the company’s stock worth $2,911,000 after buying an additional 15,374 shares in the last quarter. AGF Management Ltd. purchased a new position in CareTrust REIT in the 3rd quarter worth approximately $538,000. Sound Income Strategies LLC grew its stake in CareTrust REIT by 6.4% in the 4th quarter. Sound Income Strategies LLC now owns 621,732 shares of the company’s stock worth $23,477,000 after buying an additional 37,503 shares in the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S grew its stake in CareTrust REIT by 545.9% in the 3rd quarter. BI Asset Management Fondsmaeglerselskab A S now owns 80,239 shares of the company’s stock worth $2,783,000 after buying an additional 67,817 shares in the last quarter. Institutional investors own 87.77% of the company’s stock.

CareTrust REIT Company Profile

CareTrust REIT, Inc is a real estate investment trust based in Deerfield Beach, Florida, specializing in the ownership, acquisition and management of net-leased healthcare properties. The company primarily focuses on seniors housing and post-acute care facilities, entering into long-term, triple-net lease agreements with leading operators in the skilled nursing, assisted living, memory care, inpatient rehabilitation and specialty hospital sectors. Through its portfolio, CareTrust REIT aims to provide investors with stable and predictable rental income while supporting the ongoing demand for quality healthcare real estate across the United States.

Since its initial public offering in September 2013, CareTrust REIT has pursued a disciplined acquisition strategy, targeting properties in primary and select secondary markets.