Caretrust REIT (NASDAQ:CTRE)‘s stock had its “buy” rating reiterated by stock analysts at Cantor Fitzgerald in a report issued on Monday, October 29th. They currently have a $20.00 target price on the real estate investment trust’s stock. Cantor Fitzgerald’s target price indicates a potential upside of 4.77% from the stock’s previous close.
The analysts wrote, “We rate CTRE 12-month price target of $20. We believe that the market underappreciates the skilled nursing opportunity and that CTRE is well positioned to capitalize on the consolidation of the skilled nursing market. In our view, the skilled nursing industry is well-positioned to provide post-acute care like short-stay rehab and capitalize on the increasingly value-based reimbursement market. 12-month price target of $20 is based on a blended approach of discounted cash flow analysis and comparable-company analysis.””
Several other analysts have also recently commented on CTRE. ValuEngine upgraded shares of Caretrust REIT from a “sell” rating to a “hold” rating in a research note on Tuesday, August 7th. Zacks Investment Research cut shares of Caretrust REIT from a “hold” rating to a “sell” rating in a research note on Monday, August 6th. BidaskClub cut shares of Caretrust REIT from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 17th. Finally, Royal Bank of Canada restated a “hold” rating and set a $18.00 price objective (up from $16.00) on shares of Caretrust REIT in a research note on Thursday, August 9th. Five investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $18.38.
CTRE stock traded down $0.17 during trading on Monday, reaching $19.09. The company had a trading volume of 529,017 shares, compared to its average volume of 793,028. The stock has a market capitalization of $1.62 billion, a PE ratio of 16.46, a price-to-earnings-growth ratio of 3.02 and a beta of 0.73. The company has a quick ratio of 1.52, a current ratio of 1.52 and a debt-to-equity ratio of 0.67. Caretrust REIT has a twelve month low of $12.73 and a twelve month high of $19.86.
Caretrust REIT (NASDAQ:CTRE) last released its earnings results on Monday, November 5th. The real estate investment trust reported $0.18 EPS for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.14). The company had revenue of $39.50 million during the quarter, compared to analyst estimates of $39.37 million. Caretrust REIT had a return on equity of 7.01% and a net margin of 29.14%. The firm’s revenue for the quarter was up 20.1% on a year-over-year basis. During the same quarter last year, the business earned $0.28 earnings per share. On average, equities research analysts expect that Caretrust REIT will post 1.28 earnings per share for the current year.
Large investors have recently bought and sold shares of the company. Mount Yale Investment Advisors LLC purchased a new position in shares of Caretrust REIT during the 1st quarter valued at approximately $114,000. Brown Advisory Inc. purchased a new stake in Caretrust REIT in the 1st quarter worth $135,000. Meeder Asset Management Inc. increased its holdings in Caretrust REIT by 1,209.3% in the 2nd quarter. Meeder Asset Management Inc. now owns 10,592 shares of the real estate investment trust’s stock worth $177,000 after acquiring an additional 9,783 shares in the last quarter. Gagnon Securities LLC purchased a new stake in Caretrust REIT in the 2nd quarter worth $201,000. Finally, Vident Investment Advisory LLC purchased a new stake in Caretrust REIT in the 2nd quarter worth $208,000. 85.86% 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 189 net-leased healthcare properties and three operated seniors housing properties in 25 states, CareTrust REIT 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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