UBS Group Issues Positive Forecast for CareTrust REIT (NASDAQ:CTRE) Stock Price

CareTrust REIT (NASDAQ:CTRE) had its target price hoisted by analysts at UBS Group from $44.00 to $48.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the real estate investment trust’s stock. UBS Group’s target price indicates a potential upside of 18.78% from the stock’s previous close.

A number of other research firms have also weighed in on CTRE. Citigroup began coverage on CareTrust REIT in a research note on Thursday, January 22nd. They set a “market outperform” rating on the stock. Jefferies Financial Group boosted their price target on shares of CareTrust REIT from $41.00 to $43.00 and gave the company a “buy” rating in a research report on Monday, December 15th. Royal Bank Of Canada raised their price objective on shares of CareTrust REIT from $36.00 to $41.00 and gave the stock an “outperform” rating in a research report on Monday, November 10th. Cantor Fitzgerald lifted their target price on shares of CareTrust REIT from $37.00 to $42.00 and gave the stock a “neutral” rating in a research note on Tuesday. Finally, Wells Fargo & Company increased their price target on shares of CareTrust REIT from $38.00 to $41.00 and gave the company an “overweight” rating in a research note on Tuesday, November 25th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $39.91.

CareTrust REIT Price Performance

CTRE traded down $0.71 during trading on Wednesday, reaching $40.41. The company’s stock had a trading volume of 380,850 shares, compared to its average volume of 1,853,984. The company has a quick ratio of 3.82, a current ratio of 3.82 and a debt-to-equity ratio of 0.14. The firm has a fifty day simple moving average of $37.26 and a two-hundred day simple moving average of $35.73. CareTrust REIT has a 1 year low of $24.79 and a 1 year high of $41.36. The company has a market cap of $9.02 billion, a price-to-earnings ratio of 51.15, a PEG ratio of 1.25 and a beta of 0.75.

Hedge Funds Weigh In On CareTrust REIT

A number of hedge funds have recently made changes to their positions in the stock. Royal Bank of Canada grew its holdings in shares of CareTrust REIT by 36.4% in the first quarter. Royal Bank of Canada now owns 179,501 shares of the real estate investment trust’s stock valued at $5,129,000 after purchasing an additional 47,936 shares in the last quarter. NewEdge Advisors LLC boosted its position in CareTrust REIT by 11.3% in the 1st quarter. NewEdge Advisors LLC now owns 33,628 shares of the real estate investment trust’s stock valued at $961,000 after buying an additional 3,408 shares during the period. CWM LLC grew its stake in shares of CareTrust REIT by 47.6% in the second quarter. CWM LLC now owns 2,955 shares of the real estate investment trust’s stock worth $90,000 after acquiring an additional 953 shares in the last quarter. Private Trust Co. NA increased its position in shares of CareTrust REIT by 1,328.3% during the second quarter. Private Trust Co. NA now owns 2,828 shares of the real estate investment trust’s stock worth $87,000 after acquiring an additional 2,630 shares during the period. Finally, DekaBank Deutsche Girozentrale raised its stake in shares of CareTrust REIT by 10.0% in the second quarter. DekaBank Deutsche Girozentrale now owns 89,898 shares of the real estate investment trust’s stock valued at $2,723,000 after acquiring an additional 8,179 shares in the last quarter. Hedge funds and other institutional investors own 87.77% of the company’s stock.

About CareTrust REIT

CareTrust REIT, Inc is a healthcare-focused real estate investment trust that acquires and manages net-leased properties serving the senior housing and medical markets. The company’s portfolio spans skilled nursing facilities, assisted living communities, independent living properties, medical office buildings and life science facilities. By structuring leases on a triple-net basis, CareTrust REIT offers long-term, stable rental income streams while allowing its tenants to operate and maintain their specialized healthcare facilities.

The company’s assets are geographically diversified across the United States, with a concentration in regions experiencing aging demographics and growing demand for senior care services.