November 10, 2019 at 5:25 pm

Caretrust REIT (NASDAQ:CTRE) Rating Increased to Buy at Zacks Investment Research

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Zacks Investment Research upgraded shares of Caretrust REIT (NASDAQ:CTRE) from a hold rating to a buy rating in a research report sent to investors on Wednesday, Zacks.com reports. They currently have $25.00 price objective on the real estate investment trust’s stock.

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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 analysts have also issued reports about the company. ValuEngine lowered Caretrust REIT from a buy rating to a hold rating in a report on Thursday, August 1st. Berenberg Bank initiated coverage on Caretrust REIT in a report on Thursday, September 12th. They set a buy rating and a $29.00 price target on the stock. Barclays initiated coverage on Caretrust REIT in a report on Tuesday, September 3rd. They set an overweight rating and a $26.00 price target on the stock. Capital One Financial upgraded Caretrust REIT from an equal weight rating to an overweight rating and set a $25.00 price target on the stock in a report on Wednesday, August 21st. Finally, BidaskClub lowered Caretrust REIT from a buy rating to a hold rating in a report on Saturday, October 12th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the stock. The stock has an average rating of Buy and an average target price of $25.50.

CTRE stock traded down $0.96 during mid-day trading on Wednesday, reaching $20.51. The company’s stock had a trading volume of 3,289,200 shares, compared to its average volume of 886,366. The company has a market cap of $2.16 billion, a price-to-earnings ratio of 16.02 and a beta of 0.66. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.56. Caretrust REIT has a 12 month low of $17.71 and a 12 month high of $25.54. The business’s 50 day moving average price is $23.52 and its 200 day moving average price is $23.84.

Caretrust REIT (NASDAQ:CTRE) last announced its earnings results on Thursday, November 7th. The real estate investment trust reported ($0.11) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.34 by ($0.45). The company had revenue of $33.31 million for the quarter, compared to analysts’ expectations of $43.64 million. Caretrust REIT had a net margin of 39.70% and a return on equity of 8.08%. The firm’s quarterly revenue was down 15.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.32 EPS. As a group, equities analysts expect that Caretrust REIT will post 1.37 EPS for the current fiscal year.

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

Several institutional investors and hedge funds have recently modified their holdings of CTRE. First Trust Advisors LP raised its stake in shares of Caretrust REIT by 37.7% in the first quarter. First Trust Advisors LP now owns 171,743 shares of the real estate investment trust’s stock valued at $4,029,000 after buying an additional 47,027 shares during the period. Scout Investments Inc. raised its stake in shares of Caretrust REIT by 65.1% in the second quarter. Scout Investments Inc. now owns 242,567 shares of the real estate investment trust’s stock valued at $5,768,000 after buying an additional 95,678 shares during the period. NN Investment Partners Holdings N.V. raised its stake in shares of Caretrust REIT by 422.8% in the second quarter. NN Investment Partners Holdings N.V. now owns 447,994 shares of the real estate investment trust’s stock valued at $10,654,000 after buying an additional 362,308 shares during the period. Nisa Investment Advisors LLC raised its stake in shares of Caretrust REIT by 107.7% in the second quarter. Nisa Investment Advisors LLC now owns 8,143 shares of the real estate investment trust’s stock valued at $194,000 after buying an additional 4,223 shares during the period. Finally, 6 Meridian raised its stake in shares of Caretrust REIT by 1.5% in the second quarter. 6 Meridian now owns 33,263 shares of the real estate investment trust’s stock valued at $791,000 after buying an additional 507 shares during the period. Hedge funds and other institutional investors own 89.83% 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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