CareTrust REIT, Inc. (CTRE) Upgraded to “Buy” at BidaskClub
CareTrust REIT, Inc. (NASDAQ:CTRE) was upgraded by investment analysts at BidaskClub from a “hold” rating to a “buy” rating in a research note issued on Saturday.
CTRE has been the subject of a number of other research reports. TheStreet upgraded CareTrust REIT from a “c” rating to a “b” rating in a research note on Friday, May 5th. BMO Capital Markets lowered CareTrust REIT from an “outperform” rating to a “market perform” rating and lifted their price objective for the company from $18.00 to $20.00 in a research note on Tuesday, June 20th. Zacks Investment Research upgraded CareTrust REIT from a “sell” rating to a “hold” rating in a research note on Thursday, May 4th. Canaccord Genuity reiterated a “buy” rating and set a $19.00 price objective on shares of CareTrust REIT in a research note on Wednesday, May 3rd. Finally, Raymond James Financial, Inc. reiterated an “outperform” rating and set a $19.00 price objective (up previously from $17.00) on shares of CareTrust REIT in a research note on Wednesday, May 17th. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $18.00.
CareTrust REIT (NASDAQ:CTRE) traded down 0.05% during trading on Friday, hitting $18.86. The stock had a trading volume of 489,507 shares. CareTrust REIT has a 52-week low of $12.70 and a 52-week high of $19.86.
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Several institutional investors have recently made changes to their positions in the stock. Dynamic Technology Lab Private Ltd acquired a new position in shares of CareTrust REIT during the second quarter valued at $281,000. Wasatch Advisors Inc. raised its position in shares of CareTrust REIT by 1.0% in the second quarter. Wasatch Advisors Inc. now owns 3,408,826 shares of the real estate investment trust’s stock valued at $63,200,000 after buying an additional 34,737 shares in the last quarter. Verition Fund Management LLC acquired a new position in shares of CareTrust REIT during the second quarter valued at $229,000. Piedmont Investment Advisors LLC acquired a new position in shares of CareTrust REIT during the second quarter valued at $291,000. Finally, Ameritas Investment Partners Inc. raised its position in shares of CareTrust REIT by 18.2% in the second quarter. Ameritas Investment Partners Inc. now owns 6,329 shares of the real estate investment trust’s stock valued at $117,000 after buying an additional 975 shares in the last quarter. Hedge funds and other institutional investors own 81.66% of the company’s stock.
CareTrust REIT Company Profile
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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