CareTrust REIT, Inc. (NYSE:CTRE) Given Average Recommendation of “Buy” by Brokerages

Shares of CareTrust REIT, Inc. (NYSE:CTRE) have received an average rating of “Buy” from the thirteen ratings firms that are covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a hold rating, eight have issued a buy rating and three have issued a strong buy rating on the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $44.0909.

A number of analysts have recently weighed in on the stock. Mizuho set a $45.00 target price on shares of CareTrust REIT in a report on Friday, May 22nd. KeyCorp restated an “overweight” rating and issued a $46.00 target price on shares of CareTrust REIT in a report on Friday, May 29th. Zacks Research upgraded shares of CareTrust REIT from a “strong sell” rating to a “hold” rating in a report on Monday, May 25th. Weiss Ratings cut shares of CareTrust REIT from a “buy (a)” rating to a “buy (a-)” rating in a research note on Tuesday, May 26th. Finally, Royal Bank Of Canada lifted their price target on shares of CareTrust REIT from $41.00 to $44.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 24th.

Institutional Investors Weigh In On CareTrust REIT

Several hedge funds have recently modified their holdings of CTRE. Kemnay Advisory Services Inc. purchased a new stake in shares of CareTrust REIT in the 4th quarter worth approximately $27,000. Transamerica Financial Advisors LLC lifted its position in shares of CareTrust REIT by 520.0% in the 4th quarter. Transamerica Financial Advisors LLC now owns 868 shares of the company’s stock worth $32,000 after purchasing an additional 728 shares during the period. EverSource Wealth Advisors LLC lifted its position in shares of CareTrust REIT by 134.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,124 shares of the company’s stock worth $34,000 after purchasing an additional 644 shares during the period. Heritage Wealth Advisors lifted its position in shares of CareTrust REIT by 42.9% in the 3rd quarter. Heritage Wealth Advisors now owns 1,000 shares of the company’s stock worth $35,000 after purchasing an additional 300 shares during the period. Finally, Allworth Financial LP lifted its position in shares of CareTrust REIT by 114.0% in the 3rd quarter. Allworth Financial LP now owns 1,042 shares of the company’s stock worth $36,000 after purchasing an additional 555 shares during the period. Hedge funds and other institutional investors own 87.77% of the company’s stock.

CareTrust REIT Stock Performance

Shares of NYSE CTRE opened at $36.81 on Friday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.37 and a current ratio of 2.38. The company has a market cap of $8.70 billion, a P/E ratio of 23.60, a P/E/G ratio of 1.71 and a beta of 0.76. The firm’s fifty day moving average is $39.49 and its two-hundred day moving average is $38.49. CareTrust REIT has a 52-week low of $27.81 and a 52-week high of $43.08.

About CareTrust REIT

CareTrust REIT, Inc is a real estate investment trust based in Deerfield Beach, Florida, specializing in the ownership, acquisition and management of net-leased healthcare properties. The company primarily focuses on seniors housing and post-acute care facilities, entering into long-term, triple-net lease agreements with leading operators in the skilled nursing, assisted living, memory care, inpatient rehabilitation and specialty hospital sectors. Through its portfolio, CareTrust REIT aims to provide investors with stable and predictable rental income while supporting the ongoing demand for quality healthcare real estate across the United States.

Since its initial public offering in September 2013, CareTrust REIT has pursued a disciplined acquisition strategy, targeting properties in primary and select secondary markets.