UBS Group Forecasts Strong Price Appreciation for CareTrust REIT (NASDAQ:CTRE) Stock

CareTrust REIT (NASDAQ:CTRE) had its target price hoisted by equities research analysts at UBS Group from $44.00 to $48.00 in a report released on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the real estate investment trust’s stock. UBS Group’s price objective points to a potential upside of 18.78% from the company’s current price.

A number of other equities research analysts have also recently commented on CTRE. Citigroup initiated coverage on shares of CareTrust REIT in a report on Thursday, January 22nd. They set a “market outperform” rating for the company. Cantor Fitzgerald lifted their price target on shares of CareTrust REIT from $37.00 to $42.00 and gave the company a “neutral” rating in a report on Tuesday. The Goldman Sachs Group set a $44.00 price target on shares of CareTrust REIT in a research note on Thursday, January 22nd. Citizens Jmp started coverage on CareTrust REIT in a research report on Thursday, January 22nd. They set a “market outperform” rating and a $44.00 price objective for the company. Finally, Royal Bank Of Canada boosted their target price on CareTrust REIT from $36.00 to $41.00 and gave the stock an “outperform” rating in a research report on Monday, November 10th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, CareTrust REIT has a consensus rating of “Moderate Buy” and an average price target of $39.91.

CareTrust REIT Stock Down 1.7%

Shares of CareTrust REIT stock traded down $0.71 on Wednesday, reaching $40.41. The company’s stock had a trading volume of 380,850 shares, compared to its average volume of 1,853,984. The company has a quick ratio of 3.82, a current ratio of 3.82 and a debt-to-equity ratio of 0.14. CareTrust REIT has a 52 week low of $24.79 and a 52 week high of $41.36. The company has a market capitalization of $9.02 billion, a price-to-earnings ratio of 51.15, a P/E/G ratio of 1.25 and a beta of 0.75. The firm’s fifty day simple moving average is $37.26 and its two-hundred day simple moving average is $35.73.

Institutional Investors Weigh In On CareTrust REIT

Hedge funds have recently made changes to their positions in the stock. Segall Bryant & Hamill LLC increased its holdings in CareTrust REIT by 33.5% in the 2nd quarter. Segall Bryant & Hamill LLC now owns 722,727 shares of the real estate investment trust’s stock worth $22,115,000 after buying an additional 181,280 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH boosted its holdings in shares of CareTrust REIT by 34.0% in the 2nd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 306,495 shares of the real estate investment trust’s stock valued at $9,379,000 after acquiring an additional 77,720 shares during the last quarter. Nomura Asset Management Co. Ltd. increased its stake in shares of CareTrust REIT by 4.4% in the second quarter. Nomura Asset Management Co. Ltd. now owns 271,310 shares of the real estate investment trust’s stock worth $8,302,000 after acquiring an additional 11,440 shares during the period. Metis Global Partners LLC increased its stake in shares of CareTrust REIT by 33.4% in the second quarter. Metis Global Partners LLC now owns 31,718 shares of the real estate investment trust’s stock worth $971,000 after acquiring an additional 7,945 shares during the period. Finally, AGF Management Ltd. purchased a new position in shares of CareTrust REIT during the third quarter worth $538,000. 87.77% of the stock is currently owned by hedge funds and other institutional investors.

About CareTrust REIT

CareTrust REIT, Inc is a healthcare-focused real estate investment trust that acquires and manages net-leased properties serving the senior housing and medical markets. The company’s portfolio spans skilled nursing facilities, assisted living communities, independent living properties, medical office buildings and life science facilities. By structuring leases on a triple-net basis, CareTrust REIT offers long-term, stable rental income streams while allowing its tenants to operate and maintain their specialized healthcare facilities.

The company’s assets are geographically diversified across the United States, with a concentration in regions experiencing aging demographics and growing demand for senior care services.