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

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

Other equities analysts also recently issued research reports about the stock. Mizuho set a $45.00 price objective on shares of CareTrust REIT in a report on Friday, May 22nd. Cantor Fitzgerald increased their price target on shares of CareTrust REIT from $37.00 to $42.00 and gave the stock a “neutral” rating in a report on Tuesday, February 17th. Wells Fargo & Company raised their price objective on shares of CareTrust REIT from $42.00 to $47.00 and gave the stock an “overweight” rating in a research note on Monday, June 1st. Royal Bank Of Canada raised their price objective on shares of CareTrust REIT from $41.00 to $44.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 24th. Finally, Weiss Ratings lowered CareTrust REIT from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Thursday, June 11th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, CareTrust REIT has an average rating of “Moderate Buy” and a consensus target price of $44.82.

CareTrust REIT Stock Performance

CTRE stock opened at $36.44 on Tuesday. The firm has a market cap of $8.61 billion, a price-to-earnings ratio of 23.36, a PEG ratio of 1.68 and a beta of 0.76. The firm has a 50-day simple moving average of $39.41 and a two-hundred day simple moving average of $38.48. CareTrust REIT has a one year low of $29.09 and a one year high of $43.08. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.37 and a current ratio of 2.38.

Institutional Investors Weigh In On CareTrust REIT

Hedge funds and other institutional investors have recently bought and sold shares of the company. Royal Bank of Canada raised its holdings in CareTrust REIT by 36.4% in the 1st quarter. Royal Bank of Canada now owns 179,501 shares of the company’s stock valued at $5,129,000 after buying an additional 47,936 shares during the period. NewEdge Advisors LLC increased its stake in CareTrust REIT by 11.3% during the first quarter. NewEdge Advisors LLC now owns 33,628 shares of the company’s stock worth $961,000 after purchasing an additional 3,408 shares during the period. EverSource Wealth Advisors LLC grew its position in shares of CareTrust REIT by 134.2% during the second quarter. EverSource Wealth Advisors LLC now owns 1,124 shares of the company’s stock worth $34,000 after buying an additional 644 shares in the last quarter. First Trust Advisors LP grew its position in shares of CareTrust REIT by 67.6% during the second quarter. First Trust Advisors LP now owns 245,154 shares of the company’s stock worth $7,502,000 after buying an additional 98,850 shares in the last quarter. Finally, Cerity Partners LLC grew its position in shares of CareTrust REIT by 310.1% during the second quarter. Cerity Partners LLC now owns 36,640 shares of the company’s stock worth $1,121,000 after buying an additional 27,706 shares in the last quarter. 87.77% of the stock is currently owned by institutional investors and hedge funds.

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.