Caretrust REIT Inc (CTRE) Receives Average Recommendation of “Hold” from Brokerages

Caretrust REIT Inc (NASDAQ:CTRE) has earned a consensus rating of “Hold” from the ten research firms that are currently covering the firm. One analyst has rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $16.42.

CTRE has been the topic of a number of recent research reports. Zacks Investment Research downgraded shares of Caretrust REIT from a “buy” rating to a “hold” rating in a research note on Tuesday, January 31st. BMO Capital Markets reiterated a “buy” rating and set a $16.00 price objective on shares of Caretrust REIT in a research note on Monday, March 20th. Royal Bank of Canada downgraded shares of Caretrust REIT from an “outperform” rating to a “sector perform” rating and set a $16.00 price objective on the stock. in a research note on Tuesday, January 3rd. They noted that the move was a valuation call. Finally, Canaccord Genuity increased their target price on shares of Caretrust REIT from $18.00 to $19.00 and gave the company a “buy” rating in a research report on Thursday, March 30th.

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Caretrust REIT (NASDAQ:CTRE) traded up 1.19% during midday trading on Monday, hitting $17.80. The company’s stock had a trading volume of 205,101 shares. Caretrust REIT has a 52-week low of $12.53 and a 52-week high of $17.84. The stock has a 50 day moving average of $16.25 and a 200 day moving average of $15.12. The company has a market cap of $1.18 billion, a PE ratio of 34.30 and a beta of 0.93.

Caretrust REIT (NASDAQ:CTRE) last released its quarterly earnings data on Tuesday, February 7th. The real estate investment trust reported $0.14 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.14. Caretrust REIT had a net margin of 28.04% and a return on equity of 7.62%. The firm had revenue of $28.20 million for the quarter, compared to the consensus estimate of $27.36 million. During the same period last year, the firm earned $0.25 earnings per share. The company’s quarterly revenue was up 24.8% on a year-over-year basis. On average, equities analysts expect that Caretrust REIT will post $0.61 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, April 14th. Investors of record on Friday, March 31st were given a dividend of $0.185 per share. This is a boost from Caretrust REIT’s previous quarterly dividend of $0.17. The ex-dividend date was Wednesday, March 29th. This represents a $0.74 dividend on an annualized basis and a yield of 4.21%.

Large investors have recently bought and sold shares of the stock. Bank of New York Mellon Corp boosted its stake in Caretrust REIT by 98.9% in the third quarter. Bank of New York Mellon Corp now owns 2,167,755 shares of the real estate investment trust’s stock worth $32,039,000 after buying an additional 1,078,048 shares during the last quarter. Boston Advisors LLC bought a new position in Caretrust REIT during the third quarter worth about $6,224,000. State Street Corp boosted its position in Caretrust REIT by 29.6% in the fourth quarter. State Street Corp now owns 1,558,984 shares of the real estate investment trust’s stock worth $23,883,000 after buying an additional 355,799 shares in the last quarter. BlackRock Fund Advisors boosted its position in Caretrust REIT by 8.7% in the third quarter. BlackRock Fund Advisors now owns 4,243,893 shares of the real estate investment trust’s stock worth $62,725,000 after buying an additional 339,028 shares in the last quarter. Finally, BlackRock Institutional Trust Company N.A. boosted its position in Caretrust REIT by 10.2% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 1,868,986 shares of the real estate investment trust’s stock worth $27,624,000 after buying an additional 172,544 shares in the last quarter. 77.45% of the stock is owned by institutional investors.

Caretrust REIT Company Profile

CareTrust REIT, Inc is a self-administered, self-managed real estate investment trust. The Company is engaged in the ownership, acquisition and leasing of healthcare-related properties. It makes investments in healthcare-related real estate assets. As of December 31, 2016, its real estate portfolio included 154 skilled nursing facilities (SNFs), SNF Campuses, assisted living facilities and independent living facilities.

5 Day Chart for NASDAQ:CTRE

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