BMO Capital Markets Reaffirms Buy Rating for Caretrust REIT Inc (CTRE)
Caretrust REIT Inc (NASDAQ:CTRE)‘s stock had its “buy” rating restated by equities research analysts at BMO Capital Markets in a report issued on Monday. They currently have a $16.00 price target on the real estate investment trust’s stock. BMO Capital Markets’ price target points to a potential upside of 1.72% from the stock’s previous close.
Several other brokerages have also commented on CTRE. Zacks Investment Research lowered shares of Caretrust REIT from a “buy” rating to a “hold” rating in a report on Tuesday, January 31st. Royal Bank of Canada lowered shares of Caretrust REIT from an “outperform” rating to a “sector perform” rating and set a $16.00 price objective for the company. in a report on Tuesday, January 3rd. They noted that the move was a valuation call. Canaccord Genuity restated a “buy” rating and issued a $18.00 price objective on shares of Caretrust REIT in a report on Wednesday, February 8th. Finally, JMP Securities restated a “hold” rating on shares of Caretrust REIT in a report on Tuesday, November 22nd. Six research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $16.07.
Shares of Caretrust REIT (NASDAQ:CTRE) traded down 0.94% during trading on Monday, hitting $15.73. The stock had a trading volume of 275,469 shares. The firm has a market cap of $1.04 billion, a PE ratio of 30.31 and a beta of 0.93. Caretrust REIT has a 52-week low of $11.46 and a 52-week high of $16.00. The stock has a 50 day moving average of $15.39 and a 200 day moving average of $14.82.
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Caretrust REIT (NASDAQ:CTRE) last issued its quarterly earnings data on Tuesday, February 7th. The real estate investment trust reported $0.28 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.14 by $0.14. Caretrust REIT had a net margin of 28.04% and a return on equity of 7.62%. The business earned $28.20 million during the quarter, compared to analyst estimates of $27.36 million. During the same period last year, the business posted $0.25 earnings per share. Caretrust REIT’s quarterly revenue was up 24.8% compared to the same quarter last year. On average, equities analysts anticipate that Caretrust REIT will post $0.61 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, April 14th. Shareholders of record on Friday, March 31st will be paid a dividend of $0.185 per share. This is an increase from Caretrust REIT’s previous quarterly dividend of $0.17. The ex-dividend date is Wednesday, March 29th. This represents a $0.74 dividend on an annualized basis and a dividend yield of 4.70%.
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Several institutional investors have recently made changes to their positions in CTRE. BlackRock Fund Advisors increased its position in shares of Caretrust REIT by 8.7% in the third quarter. BlackRock Fund Advisors now owns 4,243,893 shares of the real estate investment trust’s stock worth $62,725,000 after buying an additional 339,028 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Caretrust REIT by 98.9% in the third quarter. Bank of New York Mellon Corp now owns 2,167,755 shares of the real estate investment trust’s stock worth $32,039,000 after buying an additional 1,078,048 shares in the last quarter. BlackRock Institutional Trust Company N.A. increased its position in shares of Caretrust REIT by 10.2% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 1,868,986 shares of the real estate investment trust’s stock worth $27,624,000 after buying an additional 172,544 shares in the last quarter. State Street Corp increased its position in shares of Caretrust REIT by 29.6% in the fourth quarter. State Street Corp now owns 1,558,984 shares of the real estate investment trust’s stock worth $23,883,000 after buying an additional 355,799 shares in the last quarter. Finally, Emerald Mutual Fund Advisers Trust increased its position in shares of Caretrust REIT by 3.0% in the third quarter. Emerald Mutual Fund Advisers Trust now owns 945,965 shares of the real estate investment trust’s stock worth $13,981,000 after buying an additional 27,730 shares in the last quarter. 77.45% of the stock is owned by institutional investors and hedge funds.
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.
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