Several other research analysts also recently commented on the company. BMO Capital Markets reissued a buy rating and set a $26.00 target price on shares of Caretrust REIT in a research note on Wednesday, August 7th. Raymond James downgraded Caretrust REIT from a strong-buy rating to a market perform rating and set a $25.00 target price for the company. in a research note on Friday, May 31st. Capital One Financial raised Caretrust REIT from an equal weight rating to an overweight rating and set a $25.00 target price for the company in a research note on Wednesday, August 21st. Zacks Investment Research downgraded Caretrust REIT from a hold rating to a strong sell rating in a research note on Monday, August 19th. Finally, Barclays began coverage on Caretrust REIT in a research note on Tuesday, September 3rd. They set an overweight rating and a $26.00 target price for the company. One 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 stock. The stock has an average rating of Buy and an average target price of $24.75.
CTRE stock 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 market capitalization of $2.19 billion, a price-to-earnings ratio of 17.85 and a beta of 0.73. The stock has a 50 day moving average price of $23.38 and a 200-day moving average price of $23.81. Caretrust REIT has a 1-year low of $16.68 and a 1-year high of $25.54. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.97 and a quick ratio of 0.97.
Caretrust REIT (NASDAQ:CTRE) last posted its quarterly earnings results on Tuesday, August 6th. The real estate investment trust reported $0.21 EPS for the quarter, missing the Zacks’ consensus estimate of $0.35 by ($0.14). The company had revenue of $46.20 million during the quarter, compared to analyst estimates of $43.23 million. Caretrust REIT had a net margin of 39.70% and a return on equity of 8.08%. The firm’s revenue for the quarter was up 18.6% compared to the same quarter last year. During the same period last year, the firm earned $0.33 EPS. As a group, research analysts anticipate that Caretrust REIT will post 1.37 earnings per share for the current year.
A number of hedge funds have recently made changes to their positions in the stock. BlackRock Inc. boosted its holdings in shares of Caretrust REIT by 9.8% during the 2nd quarter. BlackRock Inc. now owns 18,664,330 shares of the real estate investment trust’s stock worth $443,836,000 after buying an additional 1,666,016 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Caretrust REIT by 13.4% in the 2nd quarter. Vanguard Group Inc. now owns 14,976,743 shares of the real estate investment trust’s stock worth $356,147,000 after purchasing an additional 1,767,795 shares in the last quarter. Invesco Ltd. lifted its holdings in shares of Caretrust REIT by 295.6% in the 2nd quarter. Invesco Ltd. now owns 3,284,547 shares of the real estate investment trust’s stock worth $78,107,000 after purchasing an additional 2,454,244 shares in the last quarter. Northern Trust Corp lifted its holdings in shares of Caretrust REIT by 6.1% in the 2nd quarter. Northern Trust Corp now owns 1,922,226 shares of the real estate investment trust’s stock worth $45,710,000 after purchasing an additional 109,856 shares in the last quarter. Finally, Centersquare Investment Management LLC lifted its holdings in shares of 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 purchasing an additional 1,712,097 shares in the last quarter. Institutional investors and hedge funds own 88.53% of the company’s stock.
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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