CareTrust REIT (NASDAQ:CTRE) Raised to “Buy” at Deutsche Bank Aktiengesellschaft

CareTrust REIT (NASDAQ:CTRE) was upgraded by research analysts at Deutsche Bank Aktiengesellschaft from a “hold” rating to a “buy” rating in a report released on Thursday, MarketBeat.com reports. The brokerage currently has a $31.00 price objective on the real estate investment trust’s stock. Deutsche Bank Aktiengesellschaft’s target price indicates a potential upside of 9.35% from the stock’s previous close.

CTRE has been the subject of several other research reports. BMO Capital Markets lowered shares of CareTrust REIT from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $34.00 to $32.00 in a research note on Monday, December 9th. Royal Bank of Canada decreased their price objective on shares of CareTrust REIT from $37.00 to $32.00 and set an “outperform” rating for the company in a research note on Friday, February 21st. Wedbush lowered shares of CareTrust REIT from a “neutral” rating to an “underperform” rating and decreased their price target for the stock from $34.00 to $26.00 in a research note on Thursday, January 2nd. Finally, Wells Fargo & Company decreased their price target on shares of CareTrust REIT from $34.00 to $31.00 and set an “overweight” rating for the company in a research note on Monday, March 10th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $31.00.

CareTrust REIT Trading Up 2.3 %

CTRE opened at $28.35 on Thursday. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.82 and a quick ratio of 3.82. CareTrust REIT has a fifty-two week low of $23.26 and a fifty-two week high of $33.15. The firm has a market capitalization of $5.32 billion, a PE ratio of 35.89, a P/E/G ratio of 1.25 and a beta of 1.11. The company’s 50-day moving average is $26.39 and its 200 day moving average is $28.68.

CareTrust REIT (NASDAQ:CTRE) last posted its quarterly earnings data on Wednesday, February 12th. The real estate investment trust reported $0.29 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.12). CareTrust REIT had a net margin of 42.22% and a return on equity of 5.59%. During the same quarter in the previous year, the business posted $0.25 earnings per share. As a group, research analysts predict that CareTrust REIT will post 1.71 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Advantage Trust Co bought a new position in CareTrust REIT in the 4th quarter worth approximately $30,000. Versant Capital Management Inc boosted its holdings in CareTrust REIT by 98.8% in the 4th quarter. Versant Capital Management Inc now owns 1,495 shares of the real estate investment trust’s stock worth $40,000 after buying an additional 743 shares during the period. Blue Trust Inc. boosted its holdings in CareTrust REIT by 50.0% in the 4th quarter. Blue Trust Inc. now owns 1,808 shares of the real estate investment trust’s stock worth $49,000 after buying an additional 603 shares during the period. Quarry LP boosted its holdings in CareTrust REIT by 463.5% in the 4th quarter. Quarry LP now owns 1,854 shares of the real estate investment trust’s stock worth $50,000 after buying an additional 1,525 shares during the period. Finally, Glen Eagle Advisors LLC bought a new position in CareTrust REIT in the 4th quarter worth approximately $56,000. 87.77% of the stock is owned by institutional investors.

About CareTrust REIT

CareTrust REIT, Inc’s (CareTrust REIT or the Company) primary business consists of acquiring, financing, developing and owning real property to be leased to third-party tenants in the healthcare sector. As of March 31, 2024, the Company owned directly or through a joint venture and leased to independent operators, 228 skilled nursing facilities (SNFs), multi-service campuses, assisted living facilities (ALFs) and independent living facilities (ILFs) consisting of 24,189 operational beds and units located in 29 states with the highest concentration of properties by rental income located in California and Texas.