BidaskClub Lowers Caretrust REIT (NASDAQ:CTRE) to Buy

BidaskClub cut shares of Caretrust REIT (NASDAQ:CTRE) from a strong-buy rating to a buy rating in a report released on Tuesday morning, BidAskClub reports.

A number of other equities analysts also recently commented on the company. Raymond James downgraded Caretrust REIT from a strong-buy rating to a market perform rating and set a $25.00 price objective on the stock. in a report on Friday, May 31st. Zacks Investment Research upgraded Caretrust REIT from a hold rating to a buy rating and set a $28.00 price objective on the stock in a report on Friday, May 17th. Stifel Nicolaus set a $26.00 price objective on Caretrust REIT and gave the stock a buy rating in a report on Wednesday, May 8th. Finally, BMO Capital Markets increased their target price on Caretrust REIT from $22.00 to $25.00 and gave the company an outperform rating in a research note on Tuesday, April 9th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Caretrust REIT presently has a consensus rating of Buy and a consensus price target of $23.00.

Caretrust REIT stock opened at $24.36 on Tuesday. The stock has a market capitalization of $2.32 billion, a PE ratio of 19.03 and a beta of 0.85. The company has a current ratio of 15.94, a quick ratio of 15.94 and a debt-to-equity ratio of 0.84. Caretrust REIT has a 12 month low of $16.29 and a 12 month high of $25.54.

Caretrust REIT (NASDAQ:CTRE) last released its quarterly earnings data on Tuesday, May 7th. The real estate investment trust reported $0.18 EPS for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.14). The firm had revenue of $39.66 million during the quarter, compared to analysts’ expectations of $40.79 million. Caretrust REIT had a return on equity of 8.08% and a net margin of 37.46%. The business’s revenue for the quarter was up 4.1% compared to the same quarter last year. During the same quarter last year, the business earned $0.32 earnings per share. On average, equities analysts forecast that Caretrust REIT will post 1.39 earnings per share for the current fiscal year.

Hedge funds have recently bought and sold shares of the company. PNC Financial Services Group Inc. grew its stake in shares of Caretrust REIT by 2,802.9% in the fourth quarter. PNC Financial Services Group Inc. now owns 21,133 shares of the real estate investment trust’s stock valued at $391,000 after buying an additional 20,405 shares in the last quarter. Squarepoint Ops LLC grew its stake in shares of Caretrust REIT by 177.4% in the fourth quarter. Squarepoint Ops LLC now owns 50,571 shares of the real estate investment trust’s stock valued at $934,000 after buying an additional 32,342 shares in the last quarter. Penserra Capital Management LLC acquired a new stake in shares of Caretrust REIT in the first quarter valued at about $14,557,000. American International Group Inc. grew its stake in shares of Caretrust REIT by 2.4% in the fourth quarter. American International Group Inc. now owns 64,699 shares of the real estate investment trust’s stock valued at $1,194,000 after buying an additional 1,501 shares in the last quarter. Finally, United Services Automobile Association grew its stake in shares of Caretrust REIT by 64.4% in the fourth quarter. United Services Automobile Association now owns 19,925 shares of the real estate investment trust’s stock valued at $368,000 after buying an additional 7,807 shares in the last quarter. Institutional investors and hedge funds own 84.72% 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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