Berenberg Bank Initiates Coverage on Caretrust REIT (NASDAQ:CTRE)

Berenberg Bank assumed coverage on shares of Caretrust REIT (NASDAQ:CTRE) in a research report released on Thursday, The Fly reports. The firm issued a buy rating on the real estate investment trust’s stock.

Several other analysts have also recently issued reports on CTRE. BidaskClub cut Caretrust REIT from a buy rating to a hold rating in a research report on Thursday. Barclays began coverage on Caretrust REIT in a research report on Tuesday, September 3rd. They set an overweight rating and a $26.00 target price on the stock. BMO Capital Markets reaffirmed a buy rating and set a $26.00 target price on shares of Caretrust REIT in a research report on Wednesday, August 7th. ValuEngine cut Caretrust REIT from a buy rating to a hold rating in a research report on Thursday, August 1st. Finally, Raymond James cut Caretrust REIT from a strong-buy rating to a market perform rating and set a $25.00 target price on the stock. in a research report on Friday, May 31st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the company. The company currently has an average rating of Buy and a consensus target price of $24.75.

NASDAQ CTRE traded down $0.28 during midday trading on Thursday, hitting $22.85. 810,606 shares of the company traded hands, compared to its average volume of 912,955. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.97 and a quick ratio of 0.97. The company has a market cap of $2.19 billion, a PE ratio of 17.85 and a beta of 0.73. The company’s 50-day simple moving average is $23.38 and its 200-day simple moving average is $23.81. Caretrust REIT has a 52 week low of $16.68 and a 52 week high of $25.54.

Caretrust REIT (NASDAQ:CTRE) last announced its earnings results on Tuesday, August 6th. The real estate investment trust reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.14). The company had revenue of $46.20 million for the quarter, compared to the consensus estimate of $43.23 million. Caretrust REIT had a net margin of 39.70% and a return on equity of 8.08%. The firm’s revenue was up 18.6% compared to the same quarter last year. During the same period last year, the business posted $0.33 EPS. On average, research analysts predict that Caretrust REIT will post 1.37 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently made changes to their positions in CTRE. Point72 Asset Management L.P. acquired a new stake in shares of Caretrust REIT in the 2nd quarter worth $36,000. Westside Investment Management Inc. acquired a new stake in shares of Caretrust REIT in the 2nd quarter worth $16,842,000. Nelson Van Denburg & Campbell Wealth Management Group LLC acquired a new stake in shares of Caretrust REIT in the 2nd quarter worth $71,000. Meridian Wealth Management LLC acquired a new stake in shares of Caretrust REIT in the 2nd quarter worth $95,000. Finally, Russell Investments Group Ltd. acquired a new stake in shares of Caretrust REIT in the 2nd quarter worth $146,000. 88.53% of the stock is currently owned by institutional investors and hedge funds.

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 199 net-leased healthcare properties and three operated seniors housing properties in 27 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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Analyst Recommendations for Caretrust REIT (NASDAQ:CTRE)

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