Caretrust REIT (NASDAQ:CTRE) Earns Buy Rating from Analysts at Berenberg Bank

Stock analysts at Berenberg Bank initiated coverage on shares of Caretrust REIT (NASDAQ:CTRE) in a report released on Thursday, The Fly reports. The brokerage set a “buy” rating on the real estate investment trust’s stock.

Several other equities research analysts have also recently weighed in on the stock. Zacks Investment Research cut shares of Caretrust REIT from a “hold” rating to a “strong sell” rating in a research report on Monday, August 19th. Capital One Financial upgraded shares of Caretrust REIT from an “equal weight” rating to an “overweight” rating and set a $25.00 price objective for the company in a research report on Wednesday, August 21st. Raymond James cut shares of Caretrust REIT from a “strong-buy” rating to a “market perform” rating and set a $25.00 price objective for the company. in a research report on Friday, May 31st. ValuEngine cut shares of Caretrust REIT from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Finally, BMO Capital Markets restated a “buy” rating and issued a $26.00 price objective on shares of Caretrust REIT in a research report on Wednesday, August 7th. One analyst has rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $24.75.

Shares of CTRE stock opened at $23.59 on Thursday. Caretrust REIT has a 12-month low of $16.68 and a 12-month high of $25.54. The company has a market capitalization of $2.18 billion, a P/E ratio of 18.43 and a beta of 0.73. The firm has a 50-day moving average price of $23.38 and a 200 day moving average price of $23.81. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.56.

Caretrust REIT (NASDAQ:CTRE) last announced its quarterly earnings results on Tuesday, August 6th. The real estate investment trust reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.14). Caretrust REIT had a net margin of 39.70% and a return on equity of 8.08%. The firm had revenue of $46.20 million for the quarter, compared to the consensus estimate of $43.23 million. During the same period in the prior year, the business earned $0.33 earnings per share. The company’s revenue for the quarter was up 18.6% on a year-over-year basis. As a group, research analysts expect that Caretrust REIT will post 1.37 earnings per share for the current year.

Large investors have recently modified their holdings of the company. Invesco Ltd. grew its holdings in Caretrust REIT by 295.6% during the second quarter. Invesco Ltd. now owns 3,284,547 shares of the real estate investment trust’s stock valued at $78,107,000 after purchasing an additional 2,454,244 shares during the period. Vanguard Group Inc. lifted its position in shares of Caretrust REIT by 13.4% in the second quarter. Vanguard Group Inc. now owns 14,976,743 shares of the real estate investment trust’s stock worth $356,147,000 after purchasing an additional 1,767,795 shares in the last quarter. Centersquare Investment Management LLC lifted its position in shares of Caretrust REIT by 11,620.8% in the first quarter. Centersquare Investment Management LLC now owns 1,726,830 shares of the real estate investment trust’s stock worth $174,000 after purchasing an additional 1,712,097 shares in the last quarter. BlackRock Inc. lifted its position in shares of Caretrust REIT by 9.8% in the second quarter. BlackRock Inc. now owns 18,664,330 shares of the real estate investment trust’s stock worth $443,836,000 after purchasing an additional 1,666,016 shares in the last quarter. Finally, Nuveen Asset Management LLC lifted its position in shares of Caretrust REIT by 814.2% in the second quarter. Nuveen Asset Management LLC now owns 1,666,726 shares of the real estate investment trust’s stock worth $39,635,000 after purchasing an additional 1,484,408 shares in the last quarter. Institutional investors own 88.53% of the company’s stock.

Caretrust REIT Company Profile

CareTrust REIT, Inc is a self-administered, publicly-traded real estate investment trust engaged in the ownership, acquisition and leasing of seniors housing and healthcare-related properties. With 199 net-leased healthcare properties and three operated seniors housing properties in 27 states, CareTrust is pursuing opportunities across the nation to acquire properties that will be leased to a diverse group of local, regional and national seniors housing operators, healthcare services providers, and other healthcare-related businesses.

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Analyst Recommendations for Caretrust REIT (NASDAQ:CTRE)

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