CareTrust REIT (NASDAQ:CTRE) Stock Rating Upgraded by Deutsche Bank Aktiengesellschaft

CareTrust REIT (NASDAQ:CTRE) was upgraded by stock analysts at Deutsche Bank Aktiengesellschaft from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday,Briefing.com Automated Import reports. The firm presently has a $31.00 target price on the real estate investment trust’s stock. Deutsche Bank Aktiengesellschaft’s price target suggests a potential upside of 14.94% from the stock’s previous close.

Other research analysts also recently issued research reports about the company. Wells Fargo & Company lowered their target price on CareTrust REIT from $34.00 to $31.00 and set an “overweight” rating for the company in a research note on Monday. BMO Capital Markets cut CareTrust REIT from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $34.00 to $32.00 in a report on Monday, December 9th. Royal Bank of Canada reduced their price target on CareTrust REIT from $37.00 to $32.00 and set an “outperform” rating on the stock in a report on Friday, February 21st. Finally, Wedbush cut CareTrust REIT from a “neutral” rating to an “underperform” rating and reduced their price target for the stock from $34.00 to $26.00 in a report on Thursday, January 2nd. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $31.00.

CareTrust REIT Stock Up 3.5 %

CTRE stock opened at $26.97 on Thursday. The company has a market cap of $5.06 billion, a PE ratio of 34.14, a price-to-earnings-growth ratio of 1.25 and a beta of 1.11. The business has a 50-day simple moving average of $26.37 and a 200 day simple moving average of $28.70. CareTrust REIT has a 52 week low of $23.26 and a 52 week high of $33.15. The company has a quick ratio of 3.82, a current ratio of 3.82 and a debt-to-equity ratio of 0.14.

CareTrust REIT (NASDAQ:CTRE) last issued its earnings results on Wednesday, February 12th. The real estate investment trust reported $0.29 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.12). CareTrust REIT had a return on equity of 5.59% and a net margin of 42.22%. During the same period last year, the company posted $0.25 EPS. Sell-side analysts anticipate that CareTrust REIT will post 1.71 EPS for the current fiscal year.

Institutional Trading of CareTrust REIT

Several institutional investors have recently added to or reduced their stakes in the stock. Quantinno Capital Management LP boosted its holdings in CareTrust REIT by 2.3% in the fourth quarter. Quantinno Capital Management LP now owns 17,482 shares of the real estate investment trust’s stock valued at $473,000 after acquiring an additional 385 shares during the last quarter. Signaturefd LLC boosted its holdings in shares of CareTrust REIT by 20.3% during the 4th quarter. Signaturefd LLC now owns 2,628 shares of the real estate investment trust’s stock worth $71,000 after buying an additional 443 shares in the last quarter. WealthShield Partners LLC boosted its holdings in shares of CareTrust REIT by 1.0% during the 4th quarter. WealthShield Partners LLC now owns 49,119 shares of the real estate investment trust’s stock worth $1,343,000 after buying an additional 490 shares in the last quarter. PNC Financial Services Group Inc. boosted its holdings in shares of CareTrust REIT by 4.9% during the 4th quarter. PNC Financial Services Group Inc. now owns 11,384 shares of the real estate investment trust’s stock worth $308,000 after buying an additional 534 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC boosted its holdings in shares of CareTrust REIT by 5.4% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 11,777 shares of the real estate investment trust’s stock worth $319,000 after buying an additional 601 shares in the last quarter. 87.77% of the stock is currently owned by institutional investors.

About CareTrust REIT

CareTrust REIT, Inc’s (CareTrust REIT or the Company) primary business consists of acquiring, financing, developing and owning real property to be leased to third-party tenants in the healthcare sector. As of March 31, 2024, the Company owned directly or through a joint venture and leased to independent operators, 228 skilled nursing facilities (SNFs), multi-service campuses, assisted living facilities (ALFs) and independent living facilities (ILFs) consisting of 24,189 operational beds and units located in 29 states with the highest concentration of properties by rental income located in California and Texas.