CareTrust REIT (NYSE:CTRE) Rating Lowered to “Strong Sell” at Zacks Research

CareTrust REIT (NYSE:CTRE) was downgraded by Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued to investors on Wednesday,Zacks.com reports.

A number of other research firms also recently commented on CTRE. Wells Fargo & Company raised their target price on CareTrust REIT from $41.00 to $42.00 and gave the company an “overweight” rating in a report on Thursday. Royal Bank Of Canada raised their price objective on shares of CareTrust REIT from $41.00 to $44.00 and gave the company an “outperform” rating in a research note on Tuesday, February 24th. BMO Capital Markets raised shares of CareTrust REIT from a “hold” rating to an “outperform” rating and set a $43.00 price objective on the stock in a report on Friday, January 9th. Weiss Ratings raised shares of CareTrust REIT from a “buy (b+)” rating to a “buy (a-)” rating in a report on Monday, January 26th. Finally, The Goldman Sachs Group set a $44.00 price target on CareTrust REIT in a research note on Thursday, January 22nd. Three investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $42.90.

CareTrust REIT Price Performance

Shares of CTRE opened at $37.28 on Wednesday. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 0.22. The stock’s 50 day moving average is $38.81 and its two-hundred day moving average is $36.79. CareTrust REIT has a twelve month low of $25.82 and a twelve month high of $41.72. The firm has a market capitalization of $8.32 billion, a PE ratio of 24.05, a P/E/G ratio of 2.53 and a beta of 0.74.

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

Institutional Trading of CareTrust REIT

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in shares of CareTrust REIT by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 33,184,181 shares of the company’s stock worth $1,199,940,000 after purchasing an additional 210,965 shares during the last quarter. State Street Corp raised its position in shares of CareTrust REIT by 1.8% in the fourth 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 lifted its stake in shares of CareTrust REIT by 18.1% during the fourth quarter. Wellington Management Group LLP now owns 12,355,966 shares of the company’s stock valued at $446,792,000 after buying an additional 1,893,143 shares during the period. T. Rowe Price Investment Management Inc. lifted its stake in shares of CareTrust REIT by 108.5% during 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 buying an additional 3,379,732 shares during the period. Finally, Geode Capital Management LLC boosted its position in CareTrust REIT by 7.2% during the fourth quarter. Geode Capital Management LLC now owns 6,092,398 shares of the company’s stock worth $220,332,000 after acquiring an additional 409,411 shares during the last quarter. Hedge funds and other institutional investors own 87.77% of the company’s stock.

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.