CareTrust REIT, Inc. (NASDAQ:CTRE - Get Free Report) gapped up prior to trading on Thursday . The stock had previously closed at $27.01, but opened at $27.86. CareTrust REIT shares last traded at $28.00, with a volume of 122,847 shares trading hands.
Wall Street Analyst Weigh In
A number of research firms recently issued reports on CTRE. Wedbush reiterated an "underperform" rating and set a $26.00 price objective on shares of CareTrust REIT in a research note on Friday. Deutsche Bank Aktiengesellschaft raised shares of CareTrust REIT from a "hold" rating to a "buy" rating and set a $31.00 price target on the stock in a report on Thursday. Royal Bank of Canada decreased their target price on shares of CareTrust REIT from $37.00 to $32.00 and set an "outperform" rating on the stock in a report on Friday, February 21st. BMO Capital Markets downgraded shares of CareTrust REIT from an "outperform" rating to a "market perform" rating and cut their price target for the company from $34.00 to $32.00 in a report on Monday, December 9th. Finally, Wells Fargo & Company reduced their price target on shares of CareTrust REIT from $34.00 to $31.00 and set an "overweight" rating for the company in a research report on Monday, March 10th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $31.00.
Get Our Latest Stock Report on CareTrust REIT
CareTrust REIT Trading Up 1.4 %
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 stock has a 50 day moving average of $26.47 and a 200 day moving average of $28.65. The firm has a market cap of $5.41 billion, a P/E ratio of 36.46, a PEG ratio of 1.25 and a beta of 1.11.
CareTrust REIT (NASDAQ:CTRE - Get Free Report) last released its earnings results on Wednesday, February 12th. The real estate investment trust reported $0.29 earnings per share for the quarter, missing analysts' consensus estimates of $0.41 by ($0.12). CareTrust REIT had a return on equity of 5.59% and a net margin of 42.22%. During the same period in the prior year, the company posted $0.25 earnings per share. As a group, equities research analysts predict that CareTrust REIT, Inc. will post 1.71 EPS for the current year.
Hedge Funds Weigh In On CareTrust REIT
Institutional investors and hedge funds have recently made changes to their positions in the business. Quantinno Capital Management LP grew its stake in shares of CareTrust REIT by 2.3% during the fourth quarter. Quantinno Capital Management LP now owns 17,482 shares of the real estate investment trust's stock valued at $473,000 after buying an additional 385 shares during the last quarter. Signaturefd LLC grew its position in CareTrust REIT by 20.3% during the 4th quarter. Signaturefd LLC now owns 2,628 shares of the real estate investment trust's stock worth $71,000 after acquiring an additional 443 shares during the last quarter. WealthShield Partners LLC lifted its position in CareTrust REIT by 1.0% in the fourth quarter. WealthShield Partners LLC now owns 49,119 shares of the real estate investment trust's stock valued at $1,343,000 after purchasing an additional 490 shares during the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of CareTrust REIT by 4.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 11,384 shares of the real estate investment trust's stock valued at $308,000 after purchasing an additional 534 shares during the period. Finally, O Shaughnessy Asset Management LLC grew its holdings in shares of CareTrust REIT by 5.4% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 11,777 shares of the real estate investment trust's stock worth $319,000 after purchasing an additional 601 shares during the last quarter. Institutional investors own 87.77% of the company's stock.
About CareTrust REIT
(
Get Free Report)
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.
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