Caretrust REIT (NASDAQ:CTRE) Stock Rating Upgraded by Wells Fargo & Co

Wells Fargo & Co upgraded shares of Caretrust REIT (NASDAQ:CTRE) from a market perform rating to an outperform rating in a research report released on Tuesday, December 19th, Marketbeat Ratings reports. Wells Fargo & Co currently has $20.00 price target on the real estate investment trust’s stock.

A number of other research firms have also issued reports on CTRE. BidaskClub lowered shares of Caretrust REIT from a sell rating to a strong sell rating in a research report on Tuesday, December 12th. Zacks Investment Research lowered shares of Caretrust REIT from a buy rating to a hold rating in a research report on Tuesday, November 21st. BMO Capital Markets reaffirmed a hold rating and set a $20.00 price objective on shares of Caretrust REIT in a research report on Thursday, November 9th. Stifel Nicolaus reaffirmed a hold rating and set a $19.00 price objective (up previously from $17.00) on shares of Caretrust REIT in a research report on Thursday, November 9th. Finally, KeyCorp set a $20.00 price target on shares of Caretrust REIT and gave the company a buy rating in a research report on Sunday, October 29th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus target price of $19.88.

Caretrust REIT (NASDAQ CTRE) traded down $0.18 during trading hours on Tuesday, hitting $15.69. 638,000 shares of the stock traded hands, compared to its average volume of 645,046. Caretrust REIT has a one year low of $14.71 and a one year high of $19.86. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.60 and a current ratio of 1.60. The company has a market cap of $1,190.00, a price-to-earnings ratio of 34.11, a price-to-earnings-growth ratio of 2.50 and a beta of 0.67.

Caretrust REIT (NASDAQ:CTRE) last announced its earnings results on Wednesday, November 8th. The real estate investment trust reported $0.28 EPS for the quarter, missing the consensus estimate of $0.29 by ($0.01). Caretrust REIT had a return on equity of 5.76% and a net margin of 25.68%. The firm had revenue of $32.90 million during the quarter, compared to analyst estimates of $32.91 million. During the same quarter in the previous year, the business earned $0.28 earnings per share. The business’s quarterly revenue was up 21.4% compared to the same quarter last year. equities analysts forecast that Caretrust REIT will post 1.16 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 16th. Stockholders of record on Friday, December 29th will be paid a $0.185 dividend. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $0.74 annualized dividend and a dividend yield of 4.72%. Caretrust REIT’s payout ratio is 160.87%.

Institutional investors and hedge funds have recently bought and sold shares of the business. IndexIQ Advisors LLC boosted its stake in Caretrust REIT by 22.7% during the second quarter. IndexIQ Advisors LLC now owns 86,619 shares of the real estate investment trust’s stock worth $1,606,000 after buying an additional 15,999 shares in the last quarter. Citigroup Inc. boosted its stake in Caretrust REIT by 12.3% during the second quarter. Citigroup Inc. now owns 81,318 shares of the real estate investment trust’s stock worth $1,508,000 after buying an additional 8,909 shares in the last quarter. BNP Paribas Arbitrage SA boosted its stake in Caretrust REIT by 27.6% during the second quarter. BNP Paribas Arbitrage SA now owns 45,843 shares of the real estate investment trust’s stock worth $850,000 after buying an additional 9,918 shares in the last quarter. Schroder Investment Management Group boosted its stake in shares of Caretrust REIT by 94.6% in the 3rd quarter. Schroder Investment Management Group now owns 19,270 shares of the real estate investment trust’s stock valued at $365,000 after purchasing an additional 9,370 shares in the last quarter. Finally, Cipher Capital LP boosted its stake in shares of Caretrust REIT by 119.6% in the 3rd quarter. Cipher Capital LP now owns 150,995 shares of the real estate investment trust’s stock valued at $2,875,000 after purchasing an additional 82,226 shares in the last quarter. Hedge funds and other institutional investors own 91.15% of the company’s stock.

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Caretrust REIT Company Profile

CareTrust REIT, Inc is a self-administered, self-managed real estate investment trust. The Company is engaged in the ownership, acquisition and leasing of healthcare-related properties. It makes investments in healthcare-related real estate assets. As of December 31, 2016, its real estate portfolio included 154 skilled nursing facilities (SNFs), SNF Campuses, assisted living facilities and independent living facilities.

Analyst Recommendations for Caretrust REIT (NASDAQ:CTRE)

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