Wells Fargo & Company Raises CareTrust REIT (NYSE:CTRE) Price Target to $42.00

CareTrust REIT (NYSE:CTRE) had its price objective raised by equities researchers at Wells Fargo & Company from $41.00 to $42.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price points to a potential upside of 11.57% from the company’s previous close.

Several other equities research analysts have also weighed in on the company. Jefferies Financial Group raised their target price on CareTrust REIT from $41.00 to $43.00 and gave the stock a “buy” rating in a research report on Monday, December 15th. The Goldman Sachs Group set a $44.00 target price on shares of CareTrust REIT in a report on Thursday, January 22nd. Citizens Jmp assumed coverage on shares of CareTrust REIT in a research report on Thursday, January 22nd. They issued a “market outperform” rating and a $44.00 price target for the company. UBS Group raised their price objective on CareTrust REIT from $44.00 to $48.00 and gave the stock a “buy” rating in a report on Wednesday, February 18th. Finally, Citigroup started coverage on CareTrust REIT in a research report on Thursday, January 22nd. They issued a “market outperform” rating for the company. Three equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, CareTrust REIT currently has a consensus rating of “Buy” and a consensus price target of $42.90.

CareTrust REIT Stock Up 0.1%

CareTrust REIT stock traded up $0.05 during trading on Thursday, reaching $37.64. The stock had a trading volume of 235,166 shares, compared to its average volume of 2,674,666. CareTrust REIT has a 52-week low of $25.82 and a 52-week high of $41.72. The business has a 50 day moving average price of $38.82 and a 200 day moving average price of $36.79. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 0.22. The stock has a market cap of $8.40 billion, a PE ratio of 24.27, a P/E/G ratio of 2.52 and a beta of 0.74.

CareTrust REIT (NYSE:CTRE) last released its quarterly earnings data on Thursday, February 12th. The company reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.03. The business had revenue of $134.86 million during the quarter. CareTrust REIT had a net margin of 67.28% and a return on equity of 8.98%. CareTrust REIT has set its FY 2026 guidance at 1.900-1.95 EPS.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in CareTrust REIT by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 33,184,181 shares of the company’s stock valued at $1,199,940,000 after purchasing an additional 210,965 shares during the last quarter. State Street Corp boosted its stake in shares of CareTrust REIT by 1.8% during the 4th quarter. State Street Corp now owns 12,426,213 shares of the company’s stock valued at $453,411,000 after buying an additional 219,641 shares during the last quarter. Wellington Management Group LLP increased its stake in shares of CareTrust REIT by 18.1% in the fourth quarter. Wellington Management Group LLP now owns 12,355,966 shares of the company’s stock worth $446,792,000 after buying an additional 1,893,143 shares during the last quarter. T. Rowe Price Investment Management Inc. raised its holdings in CareTrust REIT by 108.5% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 6,493,898 shares of the company’s stock valued at $234,820,000 after acquiring an additional 3,379,732 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in CareTrust REIT by 7.2% during the 4th quarter. Geode Capital Management LLC now owns 6,092,398 shares of the company’s stock valued at $220,332,000 after acquiring an additional 409,411 shares during the last quarter. 87.77% of the stock is currently owned by hedge funds and other institutional investors.

CareTrust REIT Company Profile

CareTrust REIT, Inc is a real estate investment trust based in Deerfield Beach, Florida, specializing in the ownership, acquisition and management of net-leased healthcare properties. The company primarily focuses on seniors housing and post-acute care facilities, entering into long-term, triple-net lease agreements with leading operators in the skilled nursing, assisted living, memory care, inpatient rehabilitation and specialty hospital sectors. Through its portfolio, CareTrust REIT aims to provide investors with stable and predictable rental income while supporting the ongoing demand for quality healthcare real estate across the United States.

Since its initial public offering in September 2013, CareTrust REIT has pursued a disciplined acquisition strategy, targeting properties in primary and select secondary markets.