CareTrust REIT (NYSE:CTRE) Stock Rating Upgraded by Zacks Research

CareTrust REIT (NYSE:CTRE) was upgraded by equities researchers at Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued to investors on Monday,Zacks.com reports.

A number of other analysts have also recently commented on the company. Royal Bank Of Canada upped their price target on CareTrust REIT from $41.00 to $44.00 and gave the company an “outperform” rating in a research note on Tuesday, February 24th. Wells Fargo & Company upped their price target on CareTrust REIT from $41.00 to $42.00 and gave the company an “overweight” rating in a research note on Thursday, March 26th. Cantor Fitzgerald upped their price target on CareTrust REIT from $37.00 to $42.00 and gave the company a “neutral” rating in a research note on Tuesday, February 17th. UBS Group upped their price target on CareTrust REIT from $44.00 to $48.00 and gave the company a “buy” rating in a research note on Wednesday, February 18th. Finally, Mizuho set a $45.00 price objective on CareTrust REIT in a research report on Friday. Three investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $43.09.

CareTrust REIT Stock Performance

Shares of CTRE stock opened at $41.99 on Monday. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.38 and a quick ratio of 2.37. The stock has a market cap of $9.92 billion, a PE ratio of 26.92, a price-to-earnings-growth ratio of 2.72 and a beta of 0.76. The stock has a 50-day moving average of $39.31 and a 200-day moving average of $38.28. CareTrust REIT has a one year low of $27.81 and a one year high of $43.08.

Hedge Funds Weigh In On CareTrust REIT

Institutional investors and hedge funds have recently modified their holdings of the business. Kemnay Advisory Services Inc. acquired a new position in shares of CareTrust REIT in the 4th quarter valued at approximately $27,000. Transamerica Financial Advisors LLC grew its position in shares of CareTrust REIT by 520.0% in the 4th quarter. Transamerica Financial Advisors LLC now owns 868 shares of the company’s stock valued at $32,000 after purchasing an additional 728 shares during the period. EverSource Wealth Advisors LLC grew its position in shares of CareTrust REIT by 134.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,124 shares of the company’s stock valued at $34,000 after purchasing an additional 644 shares during the period. Heritage Wealth Advisors grew its position in shares of CareTrust REIT by 42.9% in the 3rd quarter. Heritage Wealth Advisors now owns 1,000 shares of the company’s stock valued at $35,000 after purchasing an additional 300 shares during the period. Finally, Allworth Financial LP boosted its position in CareTrust REIT by 114.0% during the 3rd quarter. Allworth Financial LP now owns 1,042 shares of the company’s stock worth $36,000 after acquiring an additional 555 shares during the last quarter. 87.77% of the stock is currently owned by institutional investors and hedge funds.

CareTrust REIT Company Profile

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.