CareTrust REIT (NASDAQ:CTRE) Coverage Initiated at Citizens Jmp

Research analysts at Citizens Jmp began coverage on shares of CareTrust REIT (NASDAQ:CTRE) in a report released on Thursday, Marketbeat.com reports. The firm set a “market outperform” rating and a $44.00 price target on the real estate investment trust’s stock. Citizens Jmp’s price target indicates a potential upside of 19.63% from the stock’s current price.

A number of other research firms also recently commented on CTRE. Jefferies Financial Group lifted their price objective on shares of CareTrust REIT from $41.00 to $43.00 and gave the stock a “buy” rating in a report on Monday, December 15th. KeyCorp raised their price target on shares of CareTrust REIT from $36.00 to $40.00 and gave the stock an “overweight” rating in a research report on Thursday, December 4th. The Goldman Sachs Group set a $44.00 price target on shares of CareTrust REIT in a report on Thursday. Citigroup initiated coverage on shares of CareTrust REIT in a research note on Thursday. They set a “market outperform” rating on the stock. Finally, Wells Fargo & Company raised their target price on shares of CareTrust REIT from $38.00 to $41.00 and gave the stock an “overweight” rating in a report on Tuesday, November 25th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $39.00.

CareTrust REIT Trading Up 0.7%

NASDAQ:CTRE opened at $36.78 on Thursday. The company has a market cap of $8.21 billion, a PE ratio of 46.56, a P/E/G ratio of 1.25 and a beta of 0.75. The business’s 50 day moving average is $36.92 and its two-hundred day moving average is $34.82. The company has a quick ratio of 3.82, a current ratio of 3.82 and a debt-to-equity ratio of 0.14. CareTrust REIT has a 52 week low of $24.79 and a 52 week high of $38.32.

Institutional Investors Weigh In On CareTrust REIT

Several large investors have recently made changes to their positions in the company. Heritage Wealth Advisors boosted its position in shares of CareTrust REIT by 42.9% during the third quarter. Heritage Wealth Advisors now owns 1,000 shares of the real estate investment trust’s stock worth $35,000 after buying an additional 300 shares during the period. Allworth Financial LP increased its position in CareTrust REIT by 114.0% in the 3rd quarter. Allworth Financial LP now owns 1,042 shares of the real estate investment trust’s stock valued at $36,000 after acquiring an additional 555 shares during the period. Parallel Advisors LLC raised its stake in CareTrust REIT by 109.5% during the 2nd quarter. Parallel Advisors LLC now owns 1,100 shares of the real estate investment trust’s stock valued at $34,000 after acquiring an additional 575 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in CareTrust REIT by 134.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,124 shares of the real estate investment trust’s stock valued at $34,000 after acquiring an additional 644 shares in the last quarter. Finally, Groesbeck Investment Management Corp NJ acquired a new position in CareTrust REIT during the 4th quarter worth $43,000. Institutional investors and hedge funds own 87.77% of the company’s stock.

About CareTrust REIT

CareTrust REIT, Inc is a healthcare-focused real estate investment trust that acquires and manages net-leased properties serving the senior housing and medical markets. The company’s portfolio spans skilled nursing facilities, assisted living communities, independent living properties, medical office buildings and life science facilities. By structuring leases on a triple-net basis, CareTrust REIT offers long-term, stable rental income streams while allowing its tenants to operate and maintain their specialized healthcare facilities.

The company’s assets are geographically diversified across the United States, with a concentration in regions experiencing aging demographics and growing demand for senior care services.