BidaskClub Downgrades Caretrust REIT (NASDAQ:CTRE) to Sell

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BidaskClub cut shares of Caretrust REIT (NASDAQ:CTRE) from a hold rating to a sell rating in a report issued on Saturday morning, BidAskClub reports.

A number of other equities research analysts have also recently issued reports on CTRE. BMO Capital Markets reissued a buy rating and set a $26.00 target price on shares of Caretrust REIT in a report on Wednesday, August 7th. ValuEngine cut shares of Caretrust REIT from a buy rating to a hold rating in a report on Thursday, August 1st. Berenberg Bank initiated coverage on shares of Caretrust REIT in a report on Thursday, September 12th. They set a buy rating and a $29.00 target price on the stock. Zacks Investment Research raised shares of Caretrust REIT from a hold rating to a buy rating and set a $25.00 target price on the stock in a report on Wednesday. Finally, Barclays initiated coverage on shares of Caretrust REIT in a report on Tuesday, September 3rd. They set an overweight rating and a $26.00 target price on the stock. One analyst has rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the stock. The stock has an average rating of Buy and an average target price of $25.50.

CTRE stock traded down $0.96 during mid-day trading on Friday, reaching $20.51. 3,289,200 shares of the company traded hands, compared to its average volume of 886,366. The firm’s 50 day moving average price is $23.52 and its 200 day moving average price is $23.84. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.56. Caretrust REIT has a fifty-two week low of $17.71 and a fifty-two week high of $25.54. The stock has a market cap of $2.16 billion, a price-to-earnings ratio of 16.02 and a beta of 0.66.

Caretrust REIT (NASDAQ:CTRE) last issued its earnings results on Thursday, November 7th. The real estate investment trust reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.45). Caretrust REIT had a net margin of 39.70% and a return on equity of 8.08%. The business had revenue of $33.31 million for the quarter, compared to the consensus estimate of $43.64 million. During the same period in the previous year, the firm earned $0.32 EPS. The company’s revenue was down 15.7% compared to the same quarter last year. On average, analysts anticipate that Caretrust REIT will post 1.37 EPS for the current fiscal year.

The company also recently declared a — dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were given a dividend of $0.225 per share. The ex-dividend date was Friday, September 27th. This represents a dividend yield of 3.9%. Caretrust REIT’s dividend payout ratio (DPR) is currently 70.31%.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. 6 Meridian grew its position in shares of Caretrust REIT by 1.5% during the 2nd quarter. 6 Meridian now owns 33,263 shares of the real estate investment trust’s stock valued at $791,000 after purchasing an additional 507 shares in the last quarter. Mason Street Advisors LLC grew its position in shares of Caretrust REIT by 1.7% during the 3rd quarter. Mason Street Advisors LLC now owns 32,447 shares of the real estate investment trust’s stock valued at $763,000 after purchasing an additional 542 shares in the last quarter. Creative Planning grew its position in shares of Caretrust REIT by 1.0% during the 2nd quarter. Creative Planning now owns 59,624 shares of the real estate investment trust’s stock valued at $1,418,000 after purchasing an additional 617 shares in the last quarter. New York State Teachers Retirement System grew its position in shares of Caretrust REIT by 0.5% during the 3rd quarter. New York State Teachers Retirement System now owns 145,620 shares of the real estate investment trust’s stock valued at $3,423,000 after purchasing an additional 700 shares in the last quarter. Finally, Comerica Bank grew its position in shares of Caretrust REIT by 0.9% during the 3rd quarter. Comerica Bank now owns 90,099 shares of the real estate investment trust’s stock valued at $2,206,000 after purchasing an additional 792 shares in the last quarter. Hedge funds and other institutional investors own 89.83% of the company’s stock.

About Caretrust REIT

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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