Caretrust REIT (CTRE) Downgraded 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 note issued to investors on Tuesday, 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. “

A number of other analysts have also commented on CTRE. BidaskClub raised Caretrust REIT from a buy rating to a strong-buy rating in a research note on Tuesday, March 26th. Stifel Nicolaus set a $26.00 price objective on Caretrust REIT and gave the company a buy rating in a research note on Wednesday, May 8th. Finally, BMO Capital Markets reaffirmed a buy rating and set a $22.00 price objective on shares of Caretrust REIT in a research note on Thursday, February 14th. Three research analysts have rated the stock with a hold rating, five have issued a buy rating and two have given a strong buy rating to the company’s stock. The stock currently has a consensus rating of Buy and a consensus price target of $22.57.

Caretrust REIT stock traded up $0.08 during trading hours on Tuesday, hitting $25.33. The stock had a trading volume of 9,324 shares, compared to its average volume of 898,587. The company has a debt-to-equity ratio of 0.84, a quick ratio of 15.94 and a current ratio of 15.94. The firm has a market capitalization of $2.41 billion, a price-to-earnings ratio of 19.63 and a beta of 0.91. Caretrust REIT has a 1-year low of $15.07 and a 1-year high of $25.54.

Caretrust REIT (NASDAQ:CTRE) last posted its quarterly earnings data on Tuesday, May 7th. 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 $39.66 million for the quarter, compared to analyst estimates of $40.79 million. Caretrust REIT had a net margin of 37.46% and a return on equity of 8.08%. The firm’s revenue was up 4.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.32 EPS. As a group, sell-side analysts forecast that Caretrust REIT will post 1.39 EPS for the current fiscal year.

A number of large investors have recently modified their holdings of CTRE. Centersquare Investment Management LLC boosted its stake in Caretrust REIT by 11,620.8% in the 1st quarter. Centersquare Investment Management LLC now owns 1,726,830 shares of the real estate investment trust’s stock worth $174,000 after buying an additional 1,712,097 shares during the last quarter. Copper Rock Capital Partners LLC acquired a new stake in Caretrust REIT in the 1st quarter worth about $24,926,000. BlackRock Inc. boosted its stake in Caretrust REIT by 6.0% in the 1st quarter. BlackRock Inc. now owns 16,998,314 shares of the real estate investment trust’s stock worth $398,781,000 after buying an additional 955,883 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in Caretrust REIT by 153.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,312,403 shares of the real estate investment trust’s stock worth $30,789,000 after buying an additional 795,143 shares during the last quarter. Finally, American Century Companies Inc. boosted its stake in Caretrust REIT by 62.6% in the 4th quarter. American Century Companies Inc. now owns 1,844,731 shares of the real estate investment trust’s stock worth $34,054,000 after buying an additional 710,291 shares during the last quarter. 89.13% of the stock is currently 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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