CareTrust REIT (NYSE:CTRE) Raised to Moderate Buy at Raymond James Financial

CareTrust REIT (NYSE:CTRE) was upgraded by equities research analysts at Raymond James Financial to a “moderate buy” rating in a report released on Tuesday,Zacks.com reports.

Several other equities analysts have also recently weighed in on CTRE. Zacks Research raised shares of CareTrust REIT from a “strong sell” rating to a “hold” rating in a research report on Monday, May 25th. Cantor Fitzgerald raised their price target on shares of CareTrust REIT from $37.00 to $42.00 and gave the company a “neutral” rating in a research report on Tuesday, February 17th. BMO Capital Markets raised their price target on shares of CareTrust REIT from $46.00 to $47.00 and gave the company an “outperform” rating in a research report on Monday. Citigroup reaffirmed a “market outperform” rating on shares of CareTrust REIT in a research report on Wednesday, June 10th. Finally, KeyCorp reaffirmed an “overweight” rating and issued a $46.00 price target on shares of CareTrust REIT in a research report on Friday, May 29th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, CareTrust REIT currently has an average rating of “Moderate Buy” and a consensus target price of $44.82.

CareTrust REIT Price Performance

Shares of CTRE opened at $36.44 on Tuesday. CareTrust REIT has a 12-month low of $29.09 and a 12-month high of $43.08. The stock has a market cap of $8.61 billion, a P/E ratio of 23.36, a P/E/G ratio of 1.68 and a beta of 0.76. The company has a quick ratio of 2.37, a current ratio of 2.38 and a debt-to-equity ratio of 0.22. The business’s fifty day moving average is $39.41 and its 200 day moving average is $38.48.

Hedge Funds Weigh In On CareTrust REIT

Several hedge funds have recently modified their holdings of CTRE. Royal Bank of Canada lifted its position in shares of CareTrust REIT by 36.4% during the 1st quarter. Royal Bank of Canada now owns 179,501 shares of the company’s stock worth $5,129,000 after buying an additional 47,936 shares in the last quarter. NewEdge Advisors LLC lifted its position in shares of CareTrust REIT by 11.3% during the 1st quarter. NewEdge Advisors LLC now owns 33,628 shares of the company’s stock worth $961,000 after buying an additional 3,408 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of CareTrust REIT by 134.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,124 shares of the company’s stock worth $34,000 after buying an additional 644 shares in the last quarter. First Trust Advisors LP lifted its position in shares of CareTrust REIT by 67.6% during the 2nd quarter. First Trust Advisors LP now owns 245,154 shares of the company’s stock worth $7,502,000 after buying an additional 98,850 shares in the last quarter. Finally, Cerity Partners LLC lifted its position in shares of CareTrust REIT by 310.1% during the 2nd quarter. Cerity Partners LLC now owns 36,640 shares of the company’s stock worth $1,121,000 after buying an additional 27,706 shares in the last quarter. Institutional investors own 87.77% of the company’s stock.

About CareTrust REIT

CareTrust REIT, Inc is a real estate investment trust based in Deerfield Beach, Florida, specializing in the ownership, acquisition and management of net-leased healthcare properties. The company primarily focuses on seniors housing and post-acute care facilities, entering into long-term, triple-net lease agreements with leading operators in the skilled nursing, assisted living, memory care, inpatient rehabilitation and specialty hospital sectors. Through its portfolio, CareTrust REIT aims to provide investors with stable and predictable rental income while supporting the ongoing demand for quality healthcare real estate across the United States.

Since its initial public offering in September 2013, CareTrust REIT has pursued a disciplined acquisition strategy, targeting properties in primary and select secondary markets.