Caretrust REIT (NASDAQ:CTRE) Coverage Initiated by Analysts at Berenberg Bank

Berenberg Bank began coverage on shares of Caretrust REIT (NASDAQ:CTRE) in a report issued on Thursday morning, The Fly reports. The firm issued a buy rating on the real estate investment trust’s stock.

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

CTRE traded down $0.28 during midday trading on Thursday, reaching $22.85. The company had a trading volume of 810,606 shares, compared to its average volume of 912,955. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.56. The business has a 50-day moving average of $23.38 and a two-hundred day moving average of $23.81. The company has a market cap of $2.19 billion, a P/E ratio of 17.85 and a beta of 0.73. Caretrust REIT has a 1 year low of $16.68 and a 1 year high of $25.54.



Caretrust REIT (NASDAQ:CTRE) last issued its quarterly earnings results on Tuesday, August 6th. The real estate investment trust reported $0.21 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.14). The company had revenue of $46.20 million during the quarter, compared to analysts’ expectations of $43.23 million. Caretrust REIT had a return on equity of 8.08% and a net margin of 39.70%. The business’s quarterly revenue was up 18.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.33 EPS. On average, equities research analysts predict that Caretrust REIT will post 1.37 EPS for the current year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. CIBC World Markets Inc. bought a new position in shares of Caretrust REIT in the first quarter worth about $213,000. Penserra Capital Management LLC bought a new position in Caretrust REIT during the first quarter valued at approximately $14,557,000. Monarch Partners Asset Management LLC boosted its stake in Caretrust REIT by 39.2% during the first quarter. Monarch Partners Asset Management LLC now owns 263,367 shares of the real estate investment trust’s stock valued at $6,179,000 after buying an additional 74,210 shares during the last quarter. Nordea Investment Management AB bought a new position in Caretrust REIT during the first quarter valued at approximately $4,305,000. Finally, Hillsdale Investment Management Inc. boosted its stake in Caretrust REIT by 21.8% during the second quarter. Hillsdale Investment Management Inc. now owns 36,900 shares of the real estate investment trust’s stock valued at $877,000 after buying an additional 6,600 shares during the last quarter. 88.53% of the stock is owned by hedge funds and other institutional investors.

About Caretrust REIT

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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