CareTrust REIT (NASDAQ:CTRE) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

CareTrust REIT (NASDAQ:CTRE) had its price objective lifted by Wells Fargo & Company from $38.00 to $41.00 in a report released on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the real estate investment trust’s stock. Wells Fargo & Company‘s price objective points to a potential upside of 10.59% from the company’s previous close.

A number of other research firms have also weighed in on CTRE. KeyCorp lifted their price objective on CareTrust REIT from $33.00 to $36.00 and gave the company an “overweight” rating in a research note on Thursday, August 14th. Cantor Fitzgerald initiated coverage on CareTrust REIT in a report on Wednesday, October 1st. They set a “neutral” rating and a $37.00 target price on the stock. Raymond James Financial set a $39.00 price target on CareTrust REIT and gave the company a “strong-buy” rating in a research report on Tuesday, September 2nd. UBS Group assumed coverage on CareTrust REIT in a research report on Tuesday, November 18th. They issued a “buy” rating and a $42.00 price objective on the stock. Finally, Royal Bank Of Canada raised their price objective on shares of CareTrust REIT from $36.00 to $41.00 and gave the stock an “outperform” rating in a research note on Monday, November 10th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, CareTrust REIT currently has an average rating of “Moderate Buy” and an average price target of $36.11.

CareTrust REIT Stock Performance

CTRE traded up $0.55 on Tuesday, reaching $37.08. 533,909 shares of the stock were exchanged, compared to its average volume of 1,958,244. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.82 and a quick ratio of 3.82. The company’s 50-day moving average price is $35.00 and its 200 day moving average price is $32.55. The firm has a market capitalization of $8.28 billion, a PE ratio of 46.93, a PEG ratio of 1.25 and a beta of 0.81. CareTrust REIT has a fifty-two week low of $24.79 and a fifty-two week high of $37.60.

Institutional Trading of CareTrust REIT

Several large investors have recently added to or reduced their stakes in the stock. Parallel Advisors LLC grew its holdings in shares of CareTrust REIT by 109.5% in the second quarter. Parallel Advisors LLC now owns 1,100 shares of the real estate investment trust’s stock valued at $34,000 after purchasing an additional 575 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in CareTrust REIT by 134.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,124 shares of the real estate investment trust’s stock valued at $34,000 after purchasing an additional 644 shares during the last quarter. Heritage Wealth Advisors boosted its holdings in CareTrust REIT by 42.9% in the 3rd quarter. Heritage Wealth Advisors now owns 1,000 shares of the real estate investment trust’s stock valued at $35,000 after purchasing an additional 300 shares during the last quarter. Farther Finance Advisors LLC grew its stake in shares of CareTrust REIT by 75.1% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,492 shares of the real estate investment trust’s stock valued at $52,000 after buying an additional 640 shares during the period. Finally, Salomon & Ludwin LLC acquired a new stake in shares of CareTrust REIT during the 3rd quarter worth approximately $54,000. 87.77% of the stock is currently owned by hedge funds and other institutional investors.

CareTrust REIT Company Profile

CareTrust REIT, Inc’s (CareTrust REIT or the Company) primary business consists of acquiring, financing, developing and owning real property to be leased to third-party tenants in the healthcare sector. As of March 31, 2024, the Company owned directly or through a joint venture and leased to independent operators, 228 skilled nursing facilities (SNFs), multi-service campuses, assisted living facilities (ALFs) and independent living facilities (ILFs) consisting of 24,189 operational beds and units located in 29 states with the highest concentration of properties by rental income located in California and Texas.