Berenberg Bank started coverage on shares of Caretrust REIT (NASDAQ:CTRE) in a research report sent to investors on Thursday, The Fly reports. The firm issued a buy rating and a $29.00 target price on the real estate investment trust’s stock.

A number of other research firms have also commented on CTRE. Raymond James lowered shares of Caretrust REIT from a strong-buy rating to a market perform rating and set a $25.00 price objective for the company. in a research note on Friday, May 31st. Zacks Investment Research lowered shares of Caretrust REIT from a hold rating to a strong sell rating in a research note on Monday, August 19th. BMO Capital Markets reaffirmed a buy rating and issued a $26.00 price objective on shares of Caretrust REIT in a research note on Wednesday, August 7th. Barclays started coverage on shares of Caretrust REIT in a research note on Tuesday, September 3rd. They issued an overweight rating and a $26.00 price objective for the company. Finally, Capital One Financial raised shares of Caretrust REIT from an equal weight rating to an overweight rating and set a $25.00 price objective for the company in a research note on Wednesday, August 21st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the company’s stock. Caretrust REIT has an average rating of Buy and a consensus price target of $25.22.

Shares of NASDAQ:CTRE opened at $22.85 on Thursday. The stock has a market capitalization of $2.21 billion, a price-to-earnings ratio of 17.85 and a beta of 0.73. Caretrust REIT has a 1-year low of $16.68 and a 1-year high of $25.54. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.97 and a current ratio of 0.97. The company has a 50 day moving average price of $23.37 and a 200 day moving average price of $23.81.

Caretrust REIT (NASDAQ:CTRE) last issued its earnings results on Tuesday, August 6th. The real estate investment trust reported $0.21 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.35 by ($0.14). The business had revenue of $46.20 million for the quarter, compared to the consensus estimate of $43.23 million. Caretrust REIT had a return on equity of 8.08% and a net margin of 39.70%. The company’s quarterly revenue was up 18.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.33 earnings per share. On average, sell-side analysts expect that Caretrust REIT will post 1.37 EPS for the current fiscal year.

A number of hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. lifted its position in Caretrust REIT by 9.8% in the 2nd quarter. BlackRock Inc. now owns 18,664,330 shares of the real estate investment trust’s stock worth $443,836,000 after buying an additional 1,666,016 shares in the last quarter. Royal Bank of Canada lifted its position in Caretrust REIT by 105.5% in the 2nd quarter. Royal Bank of Canada now owns 32,283 shares of the real estate investment trust’s stock worth $768,000 after buying an additional 16,573 shares in the last quarter. Amundi Pioneer Asset Management Inc. lifted its position in Caretrust REIT by 8.9% in the 2nd quarter. Amundi Pioneer Asset Management Inc. now owns 189,138 shares of the real estate investment trust’s stock worth $4,498,000 after buying an additional 15,419 shares in the last quarter. United Services Automobile Association lifted its position in Caretrust REIT by 3.7% in the 2nd quarter. United Services Automobile Association now owns 209,575 shares of the real estate investment trust’s stock worth $4,984,000 after buying an additional 7,466 shares in the last quarter. Finally, Nuveen Asset Management LLC lifted its position in Caretrust REIT by 814.2% in the 2nd quarter. Nuveen Asset Management LLC now owns 1,666,726 shares of the real estate investment trust’s stock worth $39,635,000 after buying an additional 1,484,408 shares in the last quarter. Institutional investors own 88.57% of the company’s stock.

Caretrust REIT Company Profile

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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Analyst Recommendations for Caretrust REIT (NASDAQ:CTRE)

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