Caretrust REIT (NASDAQ:CTRE) Cut to Hold at Zacks Investment Research

Zacks Investment Research downgraded shares of Caretrust REIT (NASDAQ:CTRE) from a buy rating to a hold rating in a research report released on Monday morning, Zacks.com reports.

According to Zacks, “CareTrust REIT, Inc. is a real estate investment trust. It is primarily engaged in the ownership, acquisition and leasing of healthcare-related properties. The Company leases healthcare facilities to healthcare operators in triple-net lease arrangements. CareTrust REIT, Inc. is based in United States. “

Several other analysts have also recently commented on the company. Raymond James raised their target price on Caretrust REIT from $21.00 to $22.00 and gave the stock a strong-buy rating in a research report on Monday, August 10th. BidaskClub raised Caretrust REIT from a sell rating to a hold rating in a research report on Thursday, July 30th. Stifel Nicolaus reaffirmed a buy rating and issued a $22.00 target price on shares of Caretrust REIT in a research report on Tuesday, September 1st. Finally, Wells Fargo & Company increased their price objective on Caretrust REIT from $20.00 to $21.00 and gave the stock an overweight rating in a report on Wednesday, June 17th. Five research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of Buy and an average price target of $20.86.

CTRE opened at $18.98 on Monday. The firm has a market cap of $1.82 billion, a PE ratio of 37.22 and a beta of 0.97. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 0.54. The business has a fifty day simple moving average of $18.88 and a 200-day simple moving average of $17.65. Caretrust REIT has a fifty-two week low of $7.16 and a fifty-two week high of $24.56.

Caretrust REIT (NASDAQ:CTRE) last issued its earnings results on Thursday, August 6th. The real estate investment trust reported $0.20 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.19 by $0.01. Caretrust REIT had a return on equity of 5.29% and a net margin of 29.43%. On average, equities research analysts anticipate that Caretrust REIT will post 1.34 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Private Advisor Group LLC bought a new stake in shares of Caretrust REIT in the 2nd quarter valued at about $33,000. Nvwm LLC raised its holdings in Caretrust REIT by 95.2% in the 1st quarter. Nvwm LLC now owns 4,100 shares of the real estate investment trust’s stock valued at $62,000 after acquiring an additional 2,000 shares during the period. Globeflex Capital L P bought a new position in Caretrust REIT in the 2nd quarter valued at about $84,000. Exane Derivatives bought a new position in Caretrust REIT in the 2nd quarter valued at about $110,000. Finally, Eii Capital Management Inc. raised its holdings in Caretrust REIT by 20.3% in the 1st quarter. Eii Capital Management Inc. now owns 10,054 shares of the real estate investment trust’s stock valued at $149,000 after acquiring an additional 1,696 shares during the period. 89.52% of the stock is owned by hedge funds and other institutional investors.

Caretrust REIT Company 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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