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.
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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