CareTrust REIT, Inc. (NASDAQ:CTRE) was upgraded by Zacks Investment Research from a “sell” rating to a “buy” rating in a research report issued to clients and investors on Tuesday. The firm currently has a $21.00 target price on the real estate investment trust’s stock. Zacks Investment Research‘s target price would indicate a potential upside of 11.76% from the company’s current price.

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 analysts have also recently weighed in on the company. Capital One Financial Corporation assumed coverage on CareTrust REIT in a research report on Monday. They set an “equal weight” rating and a $21.00 price objective for the company. KeyCorp reaffirmed a “buy” rating and set a $20.00 price objective on shares of CareTrust REIT in a research report on Friday, August 25th. Finally, BidaskClub raised CareTrust REIT from a “hold” rating to a “buy” rating in a research report on Saturday, August 19th. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $19.00.

Shares of CareTrust REIT (CTRE) traded down 1.67% during midday trading on Tuesday, reaching $18.79. The company’s stock had a trading volume of 296,459 shares. CareTrust REIT has a 12 month low of $12.70 and a 12 month high of $19.86. The company has a market cap of $1.43 billion, a price-to-earnings ratio of 43.60 and a beta of 0.86. The stock has a 50-day moving average of $19.15 and a 200 day moving average of $18.52.

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A number of hedge funds and other institutional investors have recently modified their holdings of CTRE. BlackRock Inc. boosted its position in CareTrust REIT by 2,476.7% during the first quarter. BlackRock Inc. now owns 9,265,924 shares of the real estate investment trust’s stock valued at $155,855,000 after purchasing an additional 8,906,314 shares during the last quarter. FMR LLC boosted its position in CareTrust REIT by 1,036.2% during the first quarter. FMR LLC now owns 6,311,699 shares of the real estate investment trust’s stock valued at $106,163,000 after purchasing an additional 5,756,172 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in CareTrust REIT by 571.4% during the first quarter. Goldman Sachs Group Inc. now owns 1,381,640 shares of the real estate investment trust’s stock valued at $23,240,000 after purchasing an additional 1,175,847 shares during the last quarter. Vanguard Group Inc. boosted its position in CareTrust REIT by 6.4% during the second quarter. Vanguard Group Inc. now owns 11,249,983 shares of the real estate investment trust’s stock valued at $208,575,000 after purchasing an additional 677,395 shares during the last quarter. Finally, Teachers Advisors LLC boosted its position in CareTrust REIT by 624.1% during the second quarter. Teachers Advisors LLC now owns 764,608 shares of the real estate investment trust’s stock valued at $14,176,000 after purchasing an additional 659,012 shares during the last quarter. 89.55% of the stock is owned by hedge funds and other institutional investors.

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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Analyst Recommendations for CareTrust REIT (NASDAQ:CTRE)

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