Caretrust REIT (NASDAQ:CTRE) Stock Rating Lowered by ValuEngine

ValuEngine downgraded shares of Caretrust REIT (NASDAQ:CTRE) from a buy rating to a hold rating in a report published on Thursday morning, ValuEngine reports.

Other equities research analysts also recently issued reports about the stock. BidaskClub downgraded shares of Caretrust REIT from a hold rating to a sell rating in a research note on Wednesday, July 24th. Stifel Nicolaus set a $26.00 price target on shares of Caretrust REIT and gave the company a buy rating in a research note on Wednesday, May 8th. Zacks Investment Research downgraded shares of Caretrust REIT from a buy rating to a hold rating in a research note on Wednesday. Raymond James downgraded shares of Caretrust REIT from a strong-buy rating to a market perform rating and set a $25.00 target price on the stock. in a research note on Friday, May 31st. Finally, BMO Capital Markets upped their target price on shares of Caretrust REIT from $22.00 to $25.00 and gave the stock an outperform rating in a research note on Tuesday, April 9th. One analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the stock. Caretrust REIT currently has an average rating of Hold and an average price target of $23.00.

Shares of Caretrust REIT stock traded up $0.07 on Thursday, reaching $23.15. The company had a trading volume of 520,990 shares, compared to its average volume of 650,503. The business has a 50 day simple moving average of $23.94. The stock has a market cap of $2.21 billion, a price-to-earnings ratio of 18.09 and a beta of 0.74. Caretrust REIT has a 52-week low of $16.68 and a 52-week high of $25.54. The company has a current ratio of 15.94, a quick ratio of 15.94 and a debt-to-equity ratio of 0.84.

Caretrust REIT (NASDAQ:CTRE) last released its quarterly earnings results on Tuesday, May 7th. The real estate investment trust reported $0.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.14). The company had revenue of $39.66 million during the quarter, compared to analysts’ expectations of $40.79 million. Caretrust REIT had a net margin of 37.46% and a return on equity of 8.08%. Caretrust REIT’s revenue was up 4.1% on a year-over-year basis. During the same period last year, the firm posted $0.32 earnings per share. Analysts anticipate that Caretrust REIT will post 1.39 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Friday, June 28th were paid a dividend of $0.225 per share. This represents a $0.90 annualized dividend and a yield of 3.89%. The ex-dividend date of this dividend was Thursday, June 27th. Caretrust REIT’s payout ratio is currently 70.31%.

A number of institutional investors and hedge funds have recently made changes to their positions in CTRE. Advisor Group Inc. boosted its holdings in shares of Caretrust REIT by 60.4% in the fourth quarter. Advisor Group Inc. now owns 4,168 shares of the real estate investment trust’s stock worth $77,000 after acquiring an additional 1,570 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Caretrust REIT by 7.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,229,381 shares of the real estate investment trust’s stock worth $22,695,000 after acquiring an additional 80,010 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Caretrust REIT by 14.8% in the fourth quarter. Geode Capital Management LLC now owns 963,183 shares of the real estate investment trust’s stock worth $17,780,000 after acquiring an additional 124,395 shares during the period. Squarepoint Ops LLC boosted its holdings in shares of Caretrust REIT by 177.4% in the fourth quarter. Squarepoint Ops LLC now owns 50,571 shares of the real estate investment trust’s stock worth $934,000 after acquiring an additional 32,342 shares during the period. Finally, Metropolitan Life Insurance Co. NY boosted its holdings in shares of Caretrust REIT by 216.8% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 31,120 shares of the real estate investment trust’s stock worth $574,000 after acquiring an additional 21,298 shares during the period. 84.03% of the stock is currently owned by hedge funds and other institutional investors.

Caretrust REIT Company Profile

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 199 net-leased healthcare properties and three operated seniors housing properties in 27 states, CareTrust 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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