CareTrust REIT Inc. (CTRE) Reaches New 12-Month High at $15.68
CareTrust REIT Inc. (NASDAQ:CTRE) shares hit a new 52-week high during trading on Tuesday . The stock traded as high as $15.68 and last traded at $15.50, with a volume of 381,172 shares traded. The stock had previously closed at $15.25.
Several research analysts have commented on CTRE shares. Canaccord Genuity lifted their price target on CareTrust REIT from $16.00 to $18.00 and gave the stock a “buy” rating in a research report on Monday, August 15th. Zacks Investment Research downgraded CareTrust REIT from a “buy” rating to a “hold” rating in a research report on Tuesday, July 19th. TheStreet raised CareTrust REIT from a “sell” rating to a “hold” rating in a research report on Thursday, May 12th. Raymond James Financial started coverage on CareTrust REIT in a research report on Thursday, August 25th. They issued an “outperform” rating and a $13.50 price target on the stock. Finally, Barclays PLC started coverage on CareTrust REIT in a research report on Monday, August 22nd. They issued an “equal weight” rating and a $16.00 price target on the stock. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $14.93.
The firm has a 50 day moving average of $14.65 and a 200 day moving average of $13.37. The stock has a market cap of $898.77 million and a P/E ratio of 40.3226.
CareTrust REIT (NASDAQ:CTRE) last issued its quarterly earnings results on Monday, August 8th. The real estate investment trust reported $0.27 EPS for the quarter, beating the consensus estimate of $0.26 by $0.01. During the same period last year, the company posted $0.25 earnings per share. The company had revenue of $25.70 million for the quarter, compared to analyst estimates of $23.68 million. The business’s revenue for the quarter was up 47.9% on a year-over-year basis. On average, equities research analysts expect that CareTrust REIT Inc. will post $1.10 earnings per share for the current fiscal year.
CareTrust REIT, Inc is a self-administered, self-managed real estate investment trust (REIT). The Company is primarily engaged in the ownership, acquisition and leasing of healthcare-related properties. The Company’s segment consists of investments in healthcare-related real estate assets. The Company’s real estate portfolio includes approximately 120 skilled nursing facilities (SNFs), assisted living facilities (ALFs) and independent living facilities (ILFs).
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