CareTrust REIT (NYSE:CTRE) Cut to “Sell” at Wall Street Zen

Wall Street Zen lowered shares of CareTrust REIT (NYSE:CTRE) from a hold rating to a sell rating in a research report released on Saturday morning,Wall Street Zen reports.

Other equities research analysts have also issued reports about the stock. Huntington assumed coverage on shares of CareTrust REIT in a report on Thursday, September 10th. They set an “outperform” rating and a $44.00 target price on the stock. Royal Bank Of Canada restated a “sector perform” rating and issued a $43.00 price target on shares of CareTrust REIT in a research note on Monday, October 5th. UBS Group cut their price objective on CareTrust REIT from $48.00 to $44.00 and set a “buy” rating on the stock in a research report on Tuesday, October 13th. Raymond James Financial decreased their target price on CareTrust REIT from $45.00 to $42.00 and set an “outperform” rating for the company in a report on Monday, October 5th. Finally, JPMorgan Chase & Co. assumed coverage on CareTrust REIT in a research note on Friday, October 16th. They set a “neutral” rating and a $41.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, CareTrust REIT has an average rating of “Moderate Buy” and an average target price of $43.64.

CareTrust REIT Stock Performance

NYSE:CTRE opened at $38.81 on Friday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.57 and a current ratio of 0.57. The stock has a market capitalization of $9.17 billion, a P/E ratio of 19.87, a PEG ratio of 1.35 and a beta of 0.77. The company has a 50 day moving average price of $37.27 and a 200 day moving average price of $38.99. CareTrust REIT has a fifty-two week low of $34.74 and a fifty-two week high of $43.62.

CareTrust REIT (NYSE:CTRE) last announced its earnings results on Thursday, November 5th. The company reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.02. CareTrust REIT had a return on equity of 8.52% and a net margin of 62.19%. The company had revenue of $176.36 million for the quarter. Equities research analysts forecast that CareTrust REIT will post 2.07 EPS for the current year.

CareTrust REIT Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th were paid a $0.39 dividend. The ex-dividend date was Wednesday, September 30th. This represents a $1.56 dividend on an annualized basis and a yield of 4.0%. CareTrust REIT’s dividend payout ratio (DPR) is currently 98.11%.

Institutional Trading of CareTrust REIT

A number of institutional investors have recently bought and sold shares of the business. Silver Oak Securities Incorporated increased its holdings in shares of CareTrust REIT by 8.4% in the 3rd quarter. Silver Oak Securities Incorporated now owns 11,847 shares of the company’s stock valued at $453,000 after acquiring an additional 923 shares during the last quarter. Ibex Wealth Advisors lifted its stake in CareTrust REIT by 3.1% during the third quarter. Ibex Wealth Advisors now owns 268,567 shares of the company’s stock worth $9,824,000 after purchasing an additional 8,076 shares during the last quarter. Aberdeen Group plc lifted its stake in CareTrust REIT by 3.3% during the third quarter. Aberdeen Group plc now owns 100,533 shares of the company’s stock worth $3,677,000 after purchasing an additional 3,250 shares during the last quarter. Allworth Financial LP boosted its holdings in CareTrust REIT by 169.2% in the third quarter. Allworth Financial LP now owns 4,386 shares of the company’s stock valued at $177,000 after purchasing an additional 2,757 shares in the last quarter. Finally, Fifth Third Bancorp boosted its holdings in CareTrust REIT by 38.8% in the third quarter. Fifth Third Bancorp now owns 9,591 shares of the company’s stock valued at $351,000 after purchasing an additional 2,683 shares in the last quarter. 87.77% of the stock is owned by hedge funds and other institutional investors.

CareTrust REIT Company Profile

CareTrust REIT, Inc is a real estate investment trust that owns and invests in healthcare-related properties, with a focus on skilled nursing facilities and senior housing. Its portfolio also includes assisted living and other properties that serve older adults and people requiring healthcare services.

The company primarily works with healthcare operators through long-term property leases and other real estate investments. CareTrust’s properties are located across the United States, and the company has expanded its investments into the United Kingdom.

CareTrust became an independent publicly traded company in 2014 after separating from The Ensign Group, a healthcare services provider.