CareTrust REIT, Inc. (CTRE) Upgraded at BidaskClub

BidaskClub upgraded shares of CareTrust REIT, Inc. (NASDAQ:CTRE) from a buy rating to a strong-buy rating in a research note issued to investors on Thursday morning.

Several other research firms also recently weighed in on CTRE. Raymond James Financial, Inc. reiterated an outperform rating and issued a $19.00 target price (up previously from $17.00) on shares of CareTrust REIT in a research note on Wednesday, May 17th. Zacks Investment Research raised shares of CareTrust REIT from a hold rating to a buy rating and set a $20.00 price objective for the company in a research note on Tuesday, May 16th. BMO Capital Markets reaffirmed a buy rating and set a $16.00 price objective on shares of CareTrust REIT in a research note on Monday, March 20th. Canaccord Genuity reaffirmed a buy rating and set a $19.00 price objective on shares of CareTrust REIT in a research note on Wednesday, May 3rd. Finally, TheStreet raised shares of CareTrust REIT from a c rating to a b rating in a research note on Friday, May 5th. Five investment analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of Buy and an average target price of $17.71.

CareTrust REIT (CTRE) opened at 19.43 on Thursday. The firm’s 50 day moving average is $18.12 and its 200-day moving average is $16.40. CareTrust REIT has a 12 month low of $12.70 and a 12 month high of $19.49. The firm has a market cap of $1.41 billion, a price-to-earnings ratio of 34.88 and a beta of 0.90.

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The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 14th. Investors of record on Friday, June 30th will be paid a dividend of $0.185 per share. The ex-dividend date is Wednesday, June 28th. This represents a $0.74 annualized dividend and a yield of 3.81%.

A number of institutional investors have recently modified their holdings of CTRE. Renaissance Technologies LLC boosted its position in shares of CareTrust REIT by 3.8% in the fourth quarter. Renaissance Technologies LLC now owns 167,500 shares of the real estate investment trust’s stock valued at $2,566,000 after buying an additional 6,100 shares in the last quarter. FMR LLC boosted its position in shares of CareTrust REIT by 0.7% in the fourth quarter. FMR LLC now owns 555,527 shares of the real estate investment trust’s stock valued at $8,511,000 after buying an additional 3,727 shares in the last quarter. Comerica Bank boosted its position in shares of CareTrust REIT by 17.3% in the fourth quarter. Comerica Bank now owns 68,214 shares of the real estate investment trust’s stock valued at $1,054,000 after buying an additional 10,064 shares in the last quarter. Guggenheim Capital LLC purchased a new position in shares of CareTrust REIT during the fourth quarter valued at approximately $1,950,000. Finally, Allianz Asset Management AG boosted its position in shares of CareTrust REIT by 80.9% in the fourth quarter. Allianz Asset Management AG now owns 167,068 shares of the real estate investment trust’s stock valued at $2,559,000 after buying an additional 74,709 shares in the last quarter. 86.92% of the stock is owned by institutional investors.

About CareTrust REIT

CareTrust REIT, Inc is a self-administered, self-managed real estate investment trust. The Company is engaged in the ownership, acquisition and leasing of healthcare-related properties. It makes investments in healthcare-related real estate assets. As of December 31, 2016, its real estate portfolio included 154 skilled nursing facilities (SNFs), SNF Campuses, assisted living facilities and independent living facilities.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “NASDAQ:CTRE”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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