Caretrust REIT (NASDAQ:CTRE) Downgraded by BidaskClub to “Buy”

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Caretrust REIT (NASDAQ:CTRE) was downgraded by equities research analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a report issued on Tuesday, BidAskClub reports.

Several other brokerages have also issued reports on CTRE. Stifel Nicolaus set a $26.00 price target on shares of Caretrust REIT and gave the company a “buy” rating in a research note on Wednesday, May 8th. Zacks Investment Research raised shares of Caretrust REIT from a “hold” rating to a “buy” rating and set a $27.00 price objective for the company in a research report on Thursday, May 9th. BMO Capital Markets lifted their target price on shares of Caretrust REIT from $22.00 to $25.00 and gave the stock an “outperform” rating in a report on Tuesday, April 9th. Finally, Raymond James downgraded shares of Caretrust REIT from a “strong-buy” rating to a “market perform” rating and set a $25.00 price objective for the company. in a report on Friday, May 31st. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $23.00.

CTRE opened at $24.29 on Tuesday. Caretrust REIT has a one year low of $16.29 and a one year high of $25.54. The company has a market cap of $2.30 billion, a PE ratio of 18.98 and a beta of 0.85. The company has a current ratio of 15.94, a quick ratio of 15.94 and a debt-to-equity ratio of 0.84.

Caretrust REIT (NASDAQ:CTRE) last announced its quarterly earnings results on Tuesday, May 7th. The real estate investment trust reported $0.18 earnings per share for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.14). The firm had revenue of $39.66 million for the quarter, compared to the consensus estimate of $40.79 million. Caretrust REIT had a return on equity of 8.08% and a net margin of 37.46%. The company’s revenue for the quarter was up 4.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.32 earnings per share. As a group, equities analysts anticipate that Caretrust REIT will post 1.39 EPS for the current fiscal year.

Several hedge funds have recently made changes to their positions in the company. Nordea Investment Management AB purchased a new position in shares of Caretrust REIT during the first quarter worth approximately $4,305,000. C M Bidwell & Associates Ltd. bought a new stake in Caretrust REIT in the first quarter valued at $65,000. Eii Capital Management Inc. boosted its holdings in Caretrust REIT by 55.6% in the first quarter. Eii Capital Management Inc. now owns 8,116 shares of the real estate investment trust’s stock valued at $190,000 after acquiring an additional 2,899 shares in the last quarter. SEI Investments Co boosted its holdings in shares of Caretrust REIT by 337.4% during the 1st quarter. SEI Investments Co now owns 262,067 shares of the real estate investment trust’s stock valued at $6,149,000 after buying an additional 202,155 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its holdings in shares of Caretrust REIT by 153.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,312,403 shares of the real estate investment trust’s stock valued at $30,789,000 after buying an additional 795,143 shares in the last quarter. Institutional investors own 84.72% of the company’s stock.

Caretrust REIT Company Profile

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 199 net-leased healthcare properties and three operated seniors housing properties in 27 states, CareTrust 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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Analyst Recommendations for Caretrust REIT (NASDAQ:CTRE)

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