Caretrust REIT (NASDAQ:CTRE) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a report released on Thursday, Zacks.com reports.

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. “

Several other equities research analysts also recently weighed in on the stock. Capital One Financial upgraded shares of Caretrust REIT from an “equal weight” rating to an “overweight” rating and set a $25.00 target price for the company in a research note on Wednesday, August 21st. Berenberg Bank assumed coverage on shares of Caretrust REIT in a research note on Thursday, September 12th. They issued a “buy” rating and a $29.00 target price for the company. BidaskClub upgraded shares of Caretrust REIT from a “hold” rating to a “buy” rating in a research note on Friday, September 27th. BMO Capital Markets restated a “buy” rating and issued a $26.00 target price on shares of Caretrust REIT in a research note on Wednesday, August 7th. Finally, Barclays assumed coverage on shares of Caretrust REIT in a research note on Tuesday, September 3rd. They issued an “overweight” rating and a $26.00 target price for the company. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $25.22.

Shares of NASDAQ CTRE traded down $0.17 during midday trading on Thursday, reaching $23.66. 432,642 shares of the company’s stock traded hands, compared to its average volume of 892,819. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.56. The stock’s 50 day simple moving average is $23.55 and its 200-day simple moving average is $23.84. Caretrust REIT has a one year low of $16.68 and a one year high of $25.54. The company has a market cap of $2.26 billion, a price-to-earnings ratio of 18.48 and a beta of 0.67.

Caretrust REIT (NASDAQ:CTRE) last released its quarterly earnings data on Tuesday, August 6th. The real estate investment trust reported $0.21 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.35 by ($0.14). Caretrust REIT had a net margin of 39.70% and a return on equity of 8.08%. The business had revenue of $46.20 million for the quarter, compared to the consensus estimate of $43.23 million. During the same quarter in the prior year, the business posted $0.33 earnings per share. Caretrust REIT’s revenue for the quarter was up 18.6% on a year-over-year basis. Equities analysts predict that Caretrust REIT will post 1.35 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Copper Rock Capital Partners LLC purchased a new position in shares of Caretrust REIT in the third quarter worth $18,767,000. State of Alaska Department of Revenue raised its holdings in shares of Caretrust REIT by 16.7% in the third quarter. State of Alaska Department of Revenue now owns 81,281 shares of the real estate investment trust’s stock worth $1,910,000 after buying an additional 11,626 shares during the last quarter. Macquarie Group Ltd. raised its holdings in shares of Caretrust REIT by 80.4% in the second quarter. Macquarie Group Ltd. now owns 46,900 shares of the real estate investment trust’s stock worth $1,115,000 after buying an additional 20,900 shares during the last quarter. BlackRock Inc. raised its holdings in shares of Caretrust REIT by 9.8% in the second quarter. BlackRock Inc. now owns 18,664,330 shares of the real estate investment trust’s stock worth $443,836,000 after buying an additional 1,666,016 shares during the last quarter. Finally, Royal Bank of Canada raised its holdings in shares of Caretrust REIT by 105.5% in the second quarter. Royal Bank of Canada now owns 32,283 shares of the real estate investment trust’s stock worth $768,000 after buying an additional 16,573 shares during the last quarter. Institutional investors own 88.57% 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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