CareTrust REIT, Inc. (CTRE) Given a $20.00 Price Target at KeyCorp
CareTrust REIT, Inc. (NASDAQ:CTRE) received a $20.00 price target from investment analysts at KeyCorp in a research report issued on Sunday. The brokerage presently has a “buy” rating on the real estate investment trust’s stock. KeyCorp’s target price would indicate a potential upside of 3.57% from the company’s previous close.
CTRE has been the topic of a number of other reports. Capital One Financial Corporation began coverage on shares of CareTrust REIT in a report on Monday, October 23rd. They set an “equal weight” rating and a $21.00 price objective on the stock. Zacks Investment Research raised shares of CareTrust REIT from a “sell” rating to a “hold” rating in a report on Tuesday, September 19th. Finally, BidaskClub downgraded shares of CareTrust REIT from a “strong-buy” rating to a “buy” rating in a report on Saturday, July 8th. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $19.00.
Shares of CareTrust REIT (NASDAQ CTRE) opened at 19.31 on Friday. CareTrust REIT has a 52-week low of $12.70 and a 52-week high of $19.86. The company has a market capitalization of $1.47 billion, a price-to-earnings ratio of 44.80 and a beta of 0.86. The firm’s 50-day moving average is $19.13 and its 200 day moving average is $18.54.
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Several hedge funds and other institutional investors have recently added to or reduced their stakes in CTRE. BlackRock Inc. raised its stake in shares of CareTrust REIT by 2,476.7% during the 1st quarter. BlackRock Inc. now owns 9,265,924 shares of the real estate investment trust’s stock worth $155,855,000 after purchasing an additional 8,906,314 shares during the period. Goldman Sachs Group Inc. raised its stake in shares of CareTrust REIT by 571.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,381,640 shares of the real estate investment trust’s stock worth $23,240,000 after purchasing an additional 1,175,847 shares during the period. Vanguard Group Inc. raised its stake in shares of CareTrust REIT by 6.4% during the 2nd quarter. Vanguard Group Inc. now owns 11,249,983 shares of the real estate investment trust’s stock worth $208,575,000 after purchasing an additional 677,395 shares during the period. Teachers Advisors LLC raised its stake in shares of CareTrust REIT by 624.1% during the 2nd quarter. Teachers Advisors LLC now owns 764,608 shares of the real estate investment trust’s stock worth $14,176,000 after purchasing an additional 659,012 shares during the period. Finally, Russell Investments Group Ltd. raised its stake in shares of CareTrust REIT by 368.6% during the 2nd quarter. Russell Investments Group Ltd. now owns 827,763 shares of the real estate investment trust’s stock worth $15,337,000 after purchasing an additional 651,129 shares during the period. Institutional investors own 89.56% of the company’s stock.
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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