CareTrust REIT (NASDAQ:CTRE) Stock Price Expected to Rise, UBS Group Analyst Says

CareTrust REIT (NASDAQ:CTRE) had its price target upped by equities research analysts at UBS Group from $44.00 to $48.00 in a report issued on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the real estate investment trust’s stock. UBS Group’s target price would suggest a potential upside of 20.24% from the stock’s previous close.

Several other analysts have also weighed in on the stock. Wells Fargo & Company boosted their target price on shares of CareTrust REIT from $38.00 to $41.00 and gave the company an “overweight” rating in a research note on Tuesday, November 25th. Cantor Fitzgerald lifted their price target on shares of CareTrust REIT from $37.00 to $42.00 and gave the company a “neutral” rating in a report on Tuesday. Jefferies Financial Group increased their price objective on shares of CareTrust REIT from $41.00 to $43.00 and gave the stock a “buy” rating in a research note on Monday, December 15th. Citigroup began coverage on shares of CareTrust REIT in a report on Thursday, January 22nd. They issued a “market outperform” rating on the stock. Finally, Royal Bank Of Canada upped their target price on CareTrust REIT from $36.00 to $41.00 and gave the company an “outperform” rating in a report on Monday, November 10th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, CareTrust REIT currently has an average rating of “Moderate Buy” and a consensus price target of $39.91.

CareTrust REIT Trading Down 0.6%

NASDAQ:CTRE opened at $39.92 on Wednesday. The company has a quick ratio of 3.82, a current ratio of 3.82 and a debt-to-equity ratio of 0.14. The business’s 50 day moving average is $37.41 and its two-hundred day moving average is $35.79. CareTrust REIT has a 52 week low of $24.79 and a 52 week high of $41.36. The company has a market cap of $8.91 billion, a PE ratio of 50.53, a P/E/G ratio of 1.25 and a beta of 0.75.

Institutional Investors Weigh In On CareTrust REIT

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CTRE. Vanguard Group Inc. raised its stake in shares of CareTrust REIT by 14.1% in the 3rd quarter. Vanguard Group Inc. now owns 32,973,216 shares of the real estate investment trust’s stock worth $1,143,511,000 after buying an additional 4,067,975 shares in the last quarter. T. Rowe Price Investment Management Inc. grew its holdings in CareTrust REIT by 108.5% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 6,493,898 shares of the real estate investment trust’s stock worth $234,820,000 after acquiring an additional 3,379,732 shares during the period. Norges Bank bought a new stake in CareTrust REIT in the fourth quarter worth about $114,810,000. Invesco Ltd. lifted its holdings in CareTrust REIT by 201.8% in the 2nd quarter. Invesco Ltd. now owns 3,772,350 shares of the real estate investment trust’s stock valued at $115,434,000 after acquiring an additional 2,522,260 shares during the last quarter. Finally, Hudson Bay Capital Management LP boosted its position in shares of CareTrust REIT by 713.4% during the 3rd quarter. Hudson Bay Capital Management LP now owns 1,710,528 shares of the real estate investment trust’s stock valued at $59,321,000 after purchasing an additional 1,989,394 shares in the last quarter. Institutional investors 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.