Caretrust REIT’s (CTRE) “Buy” Rating Reiterated at Cantor Fitzgerald

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Cantor Fitzgerald restated their buy rating on shares of Caretrust REIT (NASDAQ:CTRE) in a research note released on Monday. The brokerage currently has a $20.00 target price on the real estate investment trust’s stock.

“We rate CTRE 12-month price target of $20. We believe that the market underappreciates the skilled nursing opportunity and that CTRE is well positioned to capitalize on the consolidation of the skilled nursing market. In our view, the skilled nursing industry is well-positioned to provide post-acute care like short-stay rehab and capitalize on the increasingly value-based reimbursement market. 12-month price target of $20 is based on a blended approach of discounted cash flow analysis and comparable-company analysis.”,” Cantor Fitzgerald’s analyst wrote.

Other analysts have also recently issued reports about the stock. KeyCorp upped their price target on shares of Caretrust REIT from $16.00 to $20.00 and gave the stock a buy rating in a research report on Tuesday, August 21st. BidaskClub raised shares of Caretrust REIT from a hold rating to a buy rating in a research report on Friday, August 17th. Zacks Investment Research raised shares of 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. Royal Bank of Canada reissued a hold rating and issued a $18.00 price objective (up from $16.00) on shares of Caretrust REIT in a research report on Thursday, August 9th. Finally, ValuEngine raised shares of Caretrust REIT from a sell rating to a hold rating in a research report on Tuesday, August 7th. Five investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of Buy and an average price target of $18.38.

Caretrust REIT stock traded down $0.16 during trading on Monday, reaching $19.50. 12,425 shares of the company’s stock were exchanged, compared to its average volume of 654,486. The company has a current ratio of 1.52, a quick ratio of 1.65 and a debt-to-equity ratio of 0.67. Caretrust REIT has a 52-week low of $12.73 and a 52-week high of $19.67. The stock has a market cap of $1.59 billion, a price-to-earnings ratio of 16.91, a price-to-earnings-growth ratio of 2.97 and a beta of 0.73.

Caretrust REIT (NASDAQ:CTRE) last announced its quarterly earnings results on Monday, November 5th. The real estate investment trust reported $0.18 earnings per share for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.14). Caretrust REIT had a return on equity of 7.01% and a net margin of 29.14%. The business had revenue of $39.50 million for the quarter, compared to analysts’ expectations of $39.37 million. During the same period last year, the company posted $0.28 earnings per share. The firm’s revenue for the quarter was up 20.1% on a year-over-year basis. Analysts forecast that Caretrust REIT will post 1.27 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 15th. Shareholders of record on Friday, September 28th were given a $0.205 dividend. The ex-dividend date was Thursday, September 27th. This represents a $0.82 dividend on an annualized basis and a yield of 4.21%. Caretrust REIT’s payout ratio is currently 70.69%.

A number of large investors have recently bought and sold shares of the business. BlackRock Inc. boosted its position in Caretrust REIT by 15.0% in the 2nd quarter. BlackRock Inc. now owns 14,967,382 shares of the real estate investment trust’s stock valued at $249,805,000 after buying an additional 1,948,664 shares during the last quarter. Millennium Management LLC lifted its position in shares of Caretrust REIT by 34.2% during the second quarter. Millennium Management LLC now owns 2,198,326 shares of the real estate investment trust’s stock worth $36,690,000 after purchasing an additional 560,210 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of Caretrust REIT by 11.1% during the third quarter. Bank of New York Mellon Corp now owns 2,074,217 shares of the real estate investment trust’s stock worth $36,735,000 after purchasing an additional 206,551 shares during the last quarter. American Century Companies Inc. lifted its position in shares of Caretrust REIT by 0.5% during the third quarter. American Century Companies Inc. now owns 1,134,440 shares of the real estate investment trust’s stock worth $20,091,000 after purchasing an additional 5,436 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of Caretrust REIT by 3.5% during the second quarter. Dimensional Fund Advisors LP now owns 1,124,671 shares of the real estate investment trust’s stock worth $18,771,000 after purchasing an additional 37,941 shares during the last quarter. 88.30% of the stock is owned by institutional investors.

Caretrust REIT Company Profile

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 189 net-leased healthcare properties and three operated seniors housing properties in 25 states, CareTrust REIT 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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