Miles Capital Inc. lifted its stake in Caretrust REIT Inc (NASDAQ:CTRE) by 23.1% during the 2nd quarter, Holdings Channel reports. The firm owned 13,311 shares of the real estate investment trust’s stock after acquiring an additional 2,502 shares during the period. Miles Capital Inc.’s holdings in Caretrust REIT were worth $317,000 at the end of the most recent quarter.
Other large investors also recently bought and sold shares of the company. Westside Investment Management Inc. bought a new position in shares of Caretrust REIT in the 2nd quarter worth $16,842,000. Meridian Wealth Management LLC bought a new position in shares of Caretrust REIT in the 2nd quarter worth $95,000. Russell Investments Group Ltd. bought a new position in shares of Caretrust REIT in the 2nd quarter worth $146,000. Nvwm LLC bought a new position in shares of Caretrust REIT in the 2nd quarter worth $151,000. Finally, Winslow Evans & Crocker Inc. bought a new position in shares of Caretrust REIT in the 2nd quarter worth $172,000. Institutional investors and hedge funds own 88.53% of the company’s stock.
Several research analysts have recently issued reports on the company. Raymond James lowered Caretrust REIT from a “strong-buy” rating to a “market perform” rating and set a $25.00 price target on the stock. in a research report on Friday, May 31st. Barclays assumed coverage on Caretrust REIT in a research report on Tuesday, September 3rd. They issued an “overweight” rating and a $26.00 price target on the stock. BidaskClub lowered Caretrust REIT from a “buy” rating to a “hold” rating in a research report on Thursday. Capital One Financial upgraded Caretrust REIT from an “equal weight” rating to an “overweight” rating and set a $25.00 price target on the stock in a research report on Wednesday, August 21st. Finally, 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. One research analyst has rated the stock with a sell rating, three have given a hold rating and seven have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $24.75.
Caretrust REIT (NASDAQ:CTRE) last issued its quarterly earnings data on Tuesday, August 6th. The real estate investment trust reported $0.21 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.35 by ($0.14). The business had revenue of $46.20 million for the quarter, compared to analyst estimates 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 period in the previous year, the business posted $0.33 EPS. Research analysts expect that Caretrust REIT Inc will post 1.37 EPS for the current year.
Caretrust REIT Profile
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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