Zacks Investment Research lowered shares of Caretrust REIT (NASDAQ:CTRE) from a buy rating to a hold rating in a research report sent to investors on Friday.

According to Zacks, “CareTrust REIT, Inc. is a real estate investment trust. It is primarily engaged in the ownership, acquisition and leasing of healthcare-related properties. The Company leases healthcare facilities to healthcare operators in triple-net lease arrangements. CareTrust REIT, Inc. is based in United States. “

Several other research firms have also commented on CTRE. BidaskClub lowered Caretrust REIT from a buy rating to a hold rating in a report on Saturday, September 1st. KeyCorp increased their target price on Caretrust REIT from $16.00 to $20.00 and gave the company a buy rating in a report on Tuesday, August 21st. ValuEngine raised Caretrust REIT from a sell rating to a hold rating in a report on Tuesday, August 7th. Finally, Royal Bank of Canada reissued a hold rating and issued a $18.00 target price (up previously from $16.00) on shares of Caretrust REIT in a report on Thursday, August 9th. Seven analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock has a consensus rating of Hold and an average price target of $18.22.

NASDAQ:CTRE traded down $0.17 during trading hours on Friday, hitting $16.80. The company’s stock had a trading volume of 606,979 shares, compared to its average volume of 669,264. The firm has a market capitalization of $1.43 billion, a PE ratio of 14.48, a price-to-earnings-growth ratio of 2.75 and a beta of 0.82. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.65 and a quick ratio of 1.65. Caretrust REIT has a 52-week low of $12.73 and a 52-week high of $19.76.

Caretrust REIT (NASDAQ:CTRE) last posted its earnings results on Wednesday, August 1st. The real estate investment trust reported $0.17 EPS for the quarter, meeting the consensus estimate of $0.17. The firm had revenue of $38.97 million for the quarter, compared to analyst estimates of $38.44 million. Caretrust REIT had a return on equity of 6.81% and a net margin of 28.26%. Caretrust REIT’s revenue for the quarter was up 18.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.30 earnings per share. As a group, equities analysts anticipate that Caretrust REIT will post 1.29 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 15th. Shareholders of record on Friday, September 28th will be issued a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a dividend yield of 4.88%. The ex-dividend date is Thursday, September 27th. Caretrust REIT’s payout ratio is 70.69%.

Several hedge funds have recently modified their holdings of CTRE. Schwab Charles Investment Management Inc. grew its holdings in shares of Caretrust REIT by 7.8% during the first quarter. Schwab Charles Investment Management Inc. now owns 393,479 shares of the real estate investment trust’s stock worth $5,273,000 after purchasing an additional 28,470 shares during the last quarter. Northern Trust Corp grew its holdings in shares of Caretrust REIT by 4.8% during the first quarter. Northern Trust Corp now owns 1,385,675 shares of the real estate investment trust’s stock worth $18,568,000 after purchasing an additional 63,860 shares during the last quarter. BlackRock Inc. grew its holdings in shares of Caretrust REIT by 13.9% during the first quarter. BlackRock Inc. now owns 13,018,718 shares of the real estate investment trust’s stock worth $174,452,000 after purchasing an additional 1,589,055 shares during the last quarter. New York State Common Retirement Fund grew its holdings in shares of Caretrust REIT by 6.4% during the first quarter. New York State Common Retirement Fund now owns 82,000 shares of the real estate investment trust’s stock worth $1,099,000 after purchasing an additional 4,900 shares during the last quarter. Finally, Great West Life Assurance Co. Can grew its holdings in shares of Caretrust REIT by 2.9% during the first quarter. Great West Life Assurance Co. Can now owns 128,367 shares of the real estate investment trust’s stock worth $1,719,000 after purchasing an additional 3,564 shares during the last quarter. 88.07% of the stock is currently owned by institutional investors.

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 189 net-leased healthcare properties and three operated seniors housing properties in 25 states, CareTrust REIT 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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