Caretrust REIT (NASDAQ:CTRE) had its target price raised by stock analysts at KeyCorp from $16.00 to $20.00 in a research note issued to investors on Tuesday, MarketBeat Ratings reports. The firm currently has a “buy” rating on the real estate investment trust’s stock. KeyCorp’s price objective suggests a potential upside of 8.52% from the company’s current price. KeyCorp also issued estimates for Caretrust REIT’s FY2018 earnings at $1.29 EPS and FY2019 earnings at $1.37 EPS.
Other research analysts have also recently issued research reports about the company. TheStreet upgraded Caretrust REIT from a “c+” rating to a “b-” rating in a research report on Friday, May 25th. BidaskClub upgraded Caretrust REIT from a “hold” rating to a “buy” rating in a research report on Friday, June 1st. Wells Fargo & Co set a $19.00 price objective on Caretrust REIT and gave the stock a “buy” rating in a research report on Thursday, May 31st. Cantor Fitzgerald initiated coverage on Caretrust REIT in a research report on Tuesday, May 8th. They issued a “buy” rating and a $16.00 price objective for the company. Finally, Zacks Investment Research upgraded Caretrust REIT from a “hold” rating to a “buy” rating and set a $19.00 price objective for the company in a research report on Tuesday, July 10th. One research analyst has rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $18.22.
NASDAQ:CTRE opened at $18.43 on Tuesday. The firm has a market capitalization of $1.47 billion, a price-to-earnings ratio of 15.89, a price-to-earnings-growth ratio of 2.82 and a beta of 0.78. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.65 and a quick ratio of 1.65. Caretrust REIT has a 1 year low of $12.73 and a 1 year high of $19.82.
Caretrust REIT (NASDAQ:CTRE) last released its quarterly earnings data on Wednesday, August 1st. The real estate investment trust reported $0.17 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.17. The firm had revenue of $38.97 million during the quarter, compared to analysts’ expectations of $38.44 million. Caretrust REIT had a return on equity of 6.81% and a net margin of 28.26%. Caretrust REIT’s revenue was up 18.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.30 earnings per share. sell-side analysts anticipate that Caretrust REIT will post 1.28 EPS for the current year.
Institutional investors have recently bought and sold shares of the business. Mount Yale Investment Advisors LLC acquired a new stake in Caretrust REIT in the first quarter valued at $114,000. Brown Advisory Inc. acquired a new stake in shares of Caretrust REIT during the first quarter valued at $135,000. SG Americas Securities LLC boosted its stake in shares of Caretrust REIT by 83.6% during the first quarter. SG Americas Securities LLC now owns 12,555 shares of the real estate investment trust’s stock valued at $168,000 after acquiring an additional 5,716 shares during the last quarter. Meeder Asset Management Inc. boosted its stake in shares of Caretrust REIT by 1,209.3% during the second quarter. Meeder Asset Management Inc. now owns 10,592 shares of the real estate investment trust’s stock valued at $177,000 after acquiring an additional 9,783 shares during the last quarter. Finally, Gagnon Securities LLC acquired a new stake in shares of Caretrust REIT during the second quarter valued at $201,000. 88.09% of the stock is currently owned by institutional investors.
About Caretrust REIT
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 186 net leased healthcare properties and three operated seniors housing properties in 24 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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