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

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

Other research analysts have also recently issued reports about the stock. Wells Fargo & Company boosted their price target 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. Weiss Ratings upgraded shares of CareTrust REIT from a “buy (b+)” rating to a “buy (a-)” rating in a report on Monday, January 26th. Royal Bank Of Canada boosted their price target 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. UBS Group boosted their price target 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. Finally, Cantor Fitzgerald boosted their price target 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. Three investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $43.09.

CareTrust REIT Stock Up 2.1%

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

Institutional Trading of CareTrust REIT

Several hedge funds have recently added to or reduced their stakes in CTRE. Royal Bank of Canada raised its position in CareTrust REIT by 36.4% in the first quarter. Royal Bank of Canada now owns 179,501 shares of the company’s stock worth $5,129,000 after acquiring an additional 47,936 shares during the period. NewEdge Advisors LLC raised its position in CareTrust REIT by 11.3% in the first quarter. NewEdge Advisors LLC now owns 33,628 shares of the company’s stock worth $961,000 after acquiring an additional 3,408 shares during the period. EverSource Wealth Advisors LLC raised its position in CareTrust REIT by 134.2% in the second quarter. EverSource Wealth Advisors LLC now owns 1,124 shares of the company’s stock worth $34,000 after acquiring an additional 644 shares during the period. First Trust Advisors LP raised its position in CareTrust REIT by 67.6% in the second quarter. First Trust Advisors LP now owns 245,154 shares of the company’s stock worth $7,502,000 after acquiring an additional 98,850 shares during the period. Finally, Cerity Partners LLC raised its position in shares of CareTrust REIT by 310.1% in the second quarter. Cerity Partners LLC now owns 36,640 shares of the company’s stock valued at $1,121,000 after purchasing an additional 27,706 shares during the period. 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.