CareTrust REIT (NYSE:CTRE) Raised to “Moderate Buy” at Raymond James Financial

CareTrust REIT (NYSE:CTRE) was upgraded by stock analysts at Raymond James Financial to a “moderate buy” rating in a report issued on Tuesday,Zacks.com reports.

Other equities research analysts have also recently issued research reports about the company. KeyCorp restated an “overweight” rating and set a $46.00 price target on shares of CareTrust REIT in a research note on Friday, May 29th. Mizuho set a $45.00 target price on CareTrust REIT in a report on Friday, May 22nd. BMO Capital Markets upped their target price on CareTrust REIT from $46.00 to $47.00 and gave the company an “outperform” rating in a report on Monday. Wells Fargo & Company increased their price objective on CareTrust REIT from $42.00 to $47.00 and gave the company an “overweight” rating in a research note on Monday, June 1st. Finally, Citigroup reaffirmed a “market outperform” rating on shares of CareTrust REIT in a research note on Wednesday, June 10th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $44.82.

CareTrust REIT Price Performance

CareTrust REIT stock opened at $36.44 on Tuesday. CareTrust REIT has a 12 month low of $29.09 and a 12 month high of $43.08. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.38 and a quick ratio of 2.37. The business has a 50 day simple moving average of $39.41 and a 200-day simple moving average of $38.48. The stock has a market capitalization of $8.61 billion, a PE ratio of 23.36, a price-to-earnings-growth ratio of 1.68 and a beta of 0.76.

Institutional Investors Weigh In On CareTrust REIT

A number of hedge funds have recently bought and sold shares of the business. Militia Capital Management LLC acquired a new stake in CareTrust REIT during the 1st quarter valued at approximately $429,000. Parallel Advisors LLC lifted its holdings in shares of CareTrust REIT by 147.7% in the 1st quarter. Parallel Advisors LLC now owns 6,812 shares of the company’s stock worth $250,000 after purchasing an additional 4,062 shares during the last quarter. NewEdge Advisors LLC lifted its holdings in shares of CareTrust REIT by 4.2% in the 1st quarter. NewEdge Advisors LLC now owns 37,572 shares of the company’s stock worth $1,377,000 after purchasing an additional 1,528 shares during the last quarter. Cozad Asset Management Inc. raised its stake in CareTrust REIT by 9.0% during the 1st quarter. Cozad Asset Management Inc. now owns 61,837 shares of the company’s stock valued at $2,266,000 after acquiring an additional 5,098 shares in the last quarter. Finally, Bank of America Corp DE raised its stake in CareTrust REIT by 21.5% during the 1st quarter. Bank of America Corp DE now owns 1,214,974 shares of the company’s stock valued at $44,529,000 after acquiring an additional 214,992 shares in the last quarter. Institutional investors and hedge funds 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.