CareTrust REIT, Inc. (NASDAQ:CTRE) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Monday.

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 research firms have also weighed in on CTRE. BMO Capital Markets lowered shares of CareTrust REIT from an “outperform” rating to a “market perform” rating and boosted their price objective for the stock from $18.00 to $20.00 in a research note on Tuesday, June 20th. BidaskClub upgraded shares of CareTrust REIT from a “buy” rating to a “strong-buy” rating in a research note on Thursday, June 15th. Raymond James Financial, Inc. restated an “outperform” rating and set a $19.00 price objective (up from $17.00) on shares of CareTrust REIT in a research note on Wednesday, May 17th. TheStreet upgraded shares of CareTrust REIT from a “c” rating to a “b” rating in a research note on Friday, May 5th. Finally, Canaccord Genuity restated a “buy” rating and set a $19.00 price objective on shares of CareTrust REIT in a research note on Wednesday, May 3rd. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $18.00.

CareTrust REIT (NASDAQ:CTRE) traded down 0.38% during midday trading on Monday, reaching $18.12. 277,072 shares of the company’s stock were exchanged. The company has a market capitalization of $1.38 billion, a PE ratio of 42.04 and a beta of 0.88. CareTrust REIT has a 52 week low of $12.70 and a 52 week high of $19.86.

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Several hedge funds have recently made changes to their positions in the company. GAM Holding AG increased its stake in shares of CareTrust REIT by 19.6% in the second quarter. GAM Holding AG now owns 6,100 shares of the real estate investment trust’s stock valued at $113,000 after buying an additional 1,000 shares during the last quarter. LS Investment Advisors LLC increased its stake in shares of CareTrust REIT by 231.5% in the first quarter. LS Investment Advisors LLC now owns 6,924 shares of the real estate investment trust’s stock valued at $116,000 after buying an additional 4,835 shares during the last quarter. State of Alaska Department of Revenue increased its stake in shares of CareTrust REIT by 4.6% in the first quarter. State of Alaska Department of Revenue now owns 7,310 shares of the real estate investment trust’s stock valued at $122,000 after buying an additional 320 shares during the last quarter. Daiwa Securities Group Inc. increased its stake in shares of CareTrust REIT by 24.5% in the second quarter. Daiwa Securities Group Inc. now owns 6,606 shares of the real estate investment trust’s stock valued at $122,000 after buying an additional 1,300 shares during the last quarter. Finally, ProShare Advisors LLC increased its stake in shares of CareTrust REIT by 166.7% in the first quarter. ProShare Advisors LLC now owns 31,254 shares of the real estate investment trust’s stock valued at $150,000 after buying an additional 19,537 shares during the last quarter. 87.47% 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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Analyst Recommendations for CareTrust REIT (NASDAQ:CTRE)

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