KeyCorp Increases CareTrust REIT (NASDAQ:CTRE) Price Target to $27.00

CareTrust REIT (NASDAQ:CTRE) had its price objective hoisted by equities researchers at KeyCorp from $25.00 to $27.00 in a research note issued to investors on Thursday, Benzinga reports. The firm presently has an “overweight” rating on the real estate investment trust’s stock. KeyCorp’s price target suggests a potential upside of 9.18% from the company’s current price.

Several other equities research analysts have also recently commented on CTRE. Royal Bank of Canada cut their price target on shares of CareTrust REIT from $25.00 to $24.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 31st. Deutsche Bank Aktiengesellschaft started coverage on CareTrust REIT in a report on Tuesday, January 30th. They set a “hold” rating and a $23.00 target price on the stock. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $23.86.

CareTrust REIT Stock Down 0.4 %

Shares of CTRE stock traded down $0.09 during trading on Thursday, reaching $24.73. The company’s stock had a trading volume of 221,756 shares, compared to its average volume of 1,318,441. CareTrust REIT has a one year low of $18.18 and a one year high of $26.43. The business has a fifty day moving average price of $23.99 and a 200-day moving average price of $22.85. The company has a market cap of $3.51 billion, a price-to-earnings ratio of 47.46 and a beta of 1.03. The company has a quick ratio of 12.80, a current ratio of 12.80 and a debt-to-equity ratio of 0.36.

Institutional Trading of CareTrust REIT

Large investors have recently modified their holdings of the stock. Graham Capital Management L.P. bought a new stake in CareTrust REIT during the third quarter worth about $943,000. Wellington Management Group LLP lifted its holdings in shares of CareTrust REIT by 8.1% during the 3rd quarter. Wellington Management Group LLP now owns 7,211,404 shares of the real estate investment trust’s stock worth $147,834,000 after acquiring an additional 542,832 shares during the period. Russell Investments Group Ltd. lifted its holdings in shares of CareTrust REIT by 335.1% during the 4th quarter. Russell Investments Group Ltd. now owns 562,193 shares of the real estate investment trust’s stock worth $12,595,000 after acquiring an additional 432,984 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in shares of CareTrust REIT by 17.4% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 19,137 shares of the real estate investment trust’s stock worth $428,000 after acquiring an additional 2,842 shares in the last quarter. Finally, OVERSEA CHINESE BANKING Corp Ltd bought a new position in CareTrust REIT in the fourth quarter valued at approximately $4,879,000. 87.77% of the stock is owned by institutional investors and hedge funds.

About CareTrust REIT

CareTrust REIT, Inc is a self-administered, publicly-traded real estate investment trust engaged in the ownership, acquisition, development and leasing of skilled nursing, seniors housing and other healthcare-related properties. With a nationwide portfolio of long-term net-leased properties, and a growing portfolio of quality operators leasing them, CareTrust REIT is pursuing both external and organic growth opportunities across the United States.