Caretrust REIT (CTRE) Lowered to Hold at Zacks Investment Research

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Zacks Investment Research downgraded shares of Caretrust REIT (NASDAQ:CTRE) from a buy rating to a hold rating in a report published on Friday morning.

According to Zacks, “CareTrust REIT, Inc. is a real estate investment trust. It is primarily engaged in the ownership, acquisition and leasing of healthcare-related properties. The Company leases healthcare facilities to healthcare operators in triple-net lease arrangements. CareTrust REIT, Inc. is based in United States. “

Other research analysts have also recently issued reports about the company. ValuEngine upgraded Caretrust REIT from a sell rating to a hold rating in a report on Tuesday. BidaskClub cut Caretrust REIT from a buy rating to a hold rating in a report on Saturday, September 1st. Royal Bank of Canada reiterated a hold rating and issued a $18.00 price objective (up from $16.00) on shares of Caretrust REIT in a report on Thursday, August 9th. Finally, KeyCorp upped their price objective on Caretrust REIT from $16.00 to $20.00 and gave the company a buy rating in a report on Tuesday, August 21st. Seven equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock has an average rating of Hold and a consensus price target of $18.22.

Shares of CTRE stock traded down $0.17 during trading hours on Friday, reaching $16.80. The company had a trading volume of 606,979 shares, compared to its average volume of 669,264. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.65 and a quick ratio of 1.65. The firm has a market capitalization of $1.43 billion, a PE ratio of 14.48, a price-to-earnings-growth ratio of 2.75 and a beta of 0.82. Caretrust REIT has a 12-month low of $12.73 and a 12-month high of $19.76.

Caretrust REIT (NASDAQ:CTRE) last posted its quarterly earnings results on Wednesday, August 1st. The real estate investment trust reported $0.17 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.17. The business had revenue of $38.97 million during the quarter, compared to analyst estimates of $38.44 million. Caretrust REIT had a return on equity of 6.81% and a net margin of 28.26%. The business’s revenue was up 18.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.30 earnings per share. On average, equities research analysts expect that Caretrust REIT will post 1.29 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 15th. Investors of record on Friday, September 28th will be issued a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a yield of 4.88%. The ex-dividend date of this dividend is Thursday, September 27th. Caretrust REIT’s dividend payout ratio is presently 70.69%.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Schwab Charles Investment Management Inc. lifted its stake in Caretrust REIT by 7.8% during the first quarter. Schwab Charles Investment Management Inc. now owns 393,479 shares of the real estate investment trust’s stock worth $5,273,000 after purchasing an additional 28,470 shares in the last quarter. Northern Trust Corp lifted its stake in Caretrust REIT by 4.8% during the first quarter. Northern Trust Corp now owns 1,385,675 shares of the real estate investment trust’s stock worth $18,568,000 after purchasing an additional 63,860 shares in the last quarter. BlackRock Inc. lifted its stake in Caretrust REIT by 13.9% during the first quarter. BlackRock Inc. now owns 13,018,718 shares of the real estate investment trust’s stock worth $174,452,000 after purchasing an additional 1,589,055 shares in the last quarter. New York State Common Retirement Fund lifted its stake in Caretrust REIT by 6.4% during the first quarter. New York State Common Retirement Fund now owns 82,000 shares of the real estate investment trust’s stock worth $1,099,000 after purchasing an additional 4,900 shares in the last quarter. Finally, Great West Life Assurance Co. Can lifted its stake in Caretrust REIT by 2.9% during the first quarter. Great West Life Assurance Co. Can now owns 128,367 shares of the real estate investment trust’s stock worth $1,719,000 after purchasing an additional 3,564 shares in the last quarter. Hedge funds and other institutional investors own 88.07% 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 189 net-leased healthcare properties and three operated seniors housing properties in 25 states, CareTrust REIT 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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