BidaskClub Lowers CareTrust REIT (CTRE) to Strong Sell

BidaskClub lowered shares of CareTrust REIT (NASDAQ:CTRE) from a sell rating to a strong sell rating in a research note released on Tuesday morning.

A number of other brokerages have also commented on CTRE. Stifel Nicolaus reiterated a hold rating and issued a $19.00 price target (up from $17.00) on shares of CareTrust REIT in a research note on Thursday, November 9th. KeyCorp reiterated a buy rating and issued a $20.00 price target on shares of CareTrust REIT in a research note on Friday, August 25th. Capital One Financial began coverage on shares of CareTrust REIT in a research note on Monday, October 23rd. They issued an equal weight rating and a $21.00 price target for the company. Zacks Investment Research upgraded shares of CareTrust REIT from a sell rating to a hold rating in a research note on Tuesday, September 19th. Finally, BMO Capital Markets reiterated a hold rating and issued a $20.00 price target on shares of CareTrust REIT in a research note on Thursday, November 9th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the stock. The stock has a consensus rating of Hold and a consensus target price of $19.38.

Shares of CareTrust REIT (CTRE) traded up $0.08 during mid-day trading on Tuesday, hitting $17.73. 2,040,000 shares of the stock were exchanged, compared to its average volume of 419,597. CareTrust REIT has a 52-week low of $14.71 and a 52-week high of $19.86. The company has a market capitalization of $1,350.00, a price-to-earnings ratio of 15.22, a PEG ratio of 3.79 and a beta of 0.68. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.60 and a quick ratio of 1.60.

CareTrust REIT (NASDAQ:CTRE) last announced its quarterly earnings results on Wednesday, November 8th. The real estate investment trust reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.01). CareTrust REIT had a return on equity of 5.76% and a net margin of 25.68%. The company had revenue of $32.90 million during the quarter, compared to the consensus estimate of $32.91 million. During the same quarter in the prior year, the firm earned $0.28 earnings per share. The business’s revenue was up 21.4% compared to the same quarter last year. sell-side analysts forecast that CareTrust REIT will post 1.16 EPS for the current year.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Riverhead Capital Management LLC boosted its holdings in shares of CareTrust REIT by 90.7% in the second quarter. Riverhead Capital Management LLC now owns 5,529 shares of the real estate investment trust’s stock worth $103,000 after buying an additional 2,629 shares during the last quarter. GAM Holding AG boosted its holdings in shares of CareTrust REIT by 19.6% in the second quarter. GAM Holding AG now owns 6,100 shares of the real estate investment trust’s stock worth $113,000 after buying an additional 1,000 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of CareTrust REIT by 7.5% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,277 shares of the real estate investment trust’s stock worth $116,000 after buying an additional 437 shares during the last quarter. Ameritas Investment Partners Inc. boosted its holdings in shares of CareTrust REIT by 18.2% in the second quarter. Ameritas Investment Partners Inc. now owns 6,329 shares of the real estate investment trust’s stock worth $117,000 after buying an additional 975 shares during the last quarter. Finally, Daiwa Securities Group Inc. boosted its holdings in shares of CareTrust REIT by 24.5% in the second quarter. Daiwa Securities Group Inc. now owns 6,606 shares of the real estate investment trust’s stock worth $122,000 after buying an additional 1,300 shares during the last quarter. 91.20% of the stock is currently owned by institutional investors.

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CareTrust REIT Company Profile

CareTrust REIT, Inc is a self-administered, self-managed real estate investment trust. The Company is engaged in the ownership, acquisition and leasing of healthcare-related properties. It makes investments in healthcare-related real estate assets. As of December 31, 2016, its real estate portfolio included 154 skilled nursing facilities (SNFs), SNF Campuses, assisted living facilities and independent living facilities.

Analyst Recommendations for CareTrust REIT (NASDAQ:CTRE)

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