Stephens began coverage on shares of CareTrust REIT Inc. (NASDAQ:CTRE) in a research report report published on Wednesday morning. The brokerage issued an overweight rating and a $16.00 price target on the real estate investment trust’s stock.

Several other analysts have also recently commented on CTRE. Zacks Investment Research cut CareTrust REIT from a hold rating to a sell rating in a research report on Tuesday, May 24th. Wells Fargo & Co. started coverage on CareTrust REIT in a research report on Tuesday, July 26th. They issued a market perform rating for the company. Canaccord Genuity raised their target price on CareTrust REIT from $16.00 to $18.00 and gave the stock a buy rating in a research report on Monday, August 15th. Barclays PLC assumed coverage on CareTrust REIT in a research report on Monday, August 22nd. They issued an equal weight rating and a $16.00 target price for the company. Finally, Raymond James Financial Inc. assumed coverage on CareTrust REIT in a report on Thursday, August 25th. They set an outperform rating and a $13.50 price objective for the company. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. CareTrust REIT currently has a consensus rating of Buy and a consensus price target of $15.36.

Shares of CareTrust REIT (NASDAQ:CTRE) opened at 14.54 on Wednesday. The stock has a 50 day moving average price of $14.76 and a 200 day moving average price of $13.54. CareTrust REIT has a 12 month low of $9.12 and a 12 month high of $15.88. The stock has a market cap of $841.79 million, a P/E ratio of 37.77 and a beta of 0.94.

CareTrust REIT (NASDAQ:CTRE) last issued its earnings results on Monday, August 8th. The real estate investment trust reported $0.27 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.26 by $0.01. The business earned $25.70 million during the quarter, compared to analysts’ expectations of $23.68 million. CareTrust REIT had a return on equity of 6.02% and a net margin of 20.97%. CareTrust REIT’s revenue was up 47.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.25 earnings per share. Equities analysts anticipate that CareTrust REIT will post $1.10 EPS for the current fiscal year.

Institutional investors have recently bought and sold shares of the stock. Texas Permanent School Fund raised its position in CareTrust REIT by 12.4% in the first quarter. Texas Permanent School Fund now owns 44,861 shares of the real estate investment trust’s stock valued at $570,000 after buying an additional 4,935 shares during the period. Prudential Financial Inc. raised its position in CareTrust REIT by 21.5% in the first quarter. Prudential Financial Inc. now owns 133,053 shares of the real estate investment trust’s stock valued at $1,690,000 after buying an additional 23,500 shares during the period. BlackRock Inc. raised its position in CareTrust REIT by 43.2% in the first quarter. BlackRock Inc. now owns 455,369 shares of the real estate investment trust’s stock valued at $5,783,000 after buying an additional 137,484 shares during the period. BlackRock Group LTD raised its position in CareTrust REIT by 512.4% in the first quarter. BlackRock Group LTD now owns 366,170 shares of the real estate investment trust’s stock valued at $4,650,000 after buying an additional 306,375 shares during the period. Finally, BlackRock Fund Advisors raised its position in CareTrust REIT by 10.3% in the first quarter. BlackRock Fund Advisors now owns 3,686,370 shares of the real estate investment trust’s stock valued at $46,817,000 after buying an additional 343,602 shares during the period. Institutional investors own 82.52% of the company’s stock.

About CareTrust REIT

CareTrust REIT, Inc is a self-administered, self-managed real estate investment trust (REIT). The Company is primarily engaged in the ownership, acquisition and leasing of healthcare-related properties. The Company’s segment consists of investments in healthcare-related real estate assets. The Company’s real estate portfolio includes approximately 120 skilled nursing facilities (SNFs), assisted living facilities (ALFs) and independent living facilities (ILFs).

5 Day Chart for NASDAQ:CTRE

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