Wedbush Reaffirms “Underperform” Rating for CareTrust REIT (NASDAQ:CTRE)

CareTrust REIT (NASDAQ:CTRE)‘s stock had its “underperform” rating reaffirmed by stock analysts at Wedbush in a research report issued to clients and investors on Friday,Benzinga reports. They currently have a $26.00 price target on the real estate investment trust’s stock. Wedbush’s target price would indicate a potential downside of 8.29% from the company’s previous close. Wedbush also issued estimates for CareTrust REIT’s Q1 2025 earnings at $0.42 EPS, Q2 2025 earnings at $0.42 EPS, Q3 2025 earnings at $0.42 EPS, Q4 2025 earnings at $0.43 EPS, FY2025 earnings at $1.69 EPS, Q1 2026 earnings at $0.45 EPS, Q2 2026 earnings at $0.48 EPS, Q3 2026 earnings at $0.50 EPS and Q4 2026 earnings at $0.53 EPS.

Other equities analysts have also recently issued reports about the company. Wells Fargo & Company dropped their target price on CareTrust REIT from $34.00 to $31.00 and set an “overweight” rating for the company in a report on Monday, March 10th. Royal Bank of Canada dropped their price target on CareTrust REIT from $37.00 to $32.00 and set an “outperform” rating for the company in a report on Friday, February 21st. BMO Capital Markets cut CareTrust REIT from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $34.00 to $32.00 in a report on Monday, December 9th. Finally, Deutsche Bank Aktiengesellschaft raised CareTrust REIT from a “hold” rating to a “buy” rating and set a $31.00 price target for the company in a report on Thursday. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $31.00.

CareTrust REIT Price Performance

Shares of CTRE stock opened at $28.35 on Friday. The stock has a 50 day moving average of $26.42 and a two-hundred day moving average of $28.67. The company has a current ratio of 3.82, a quick ratio of 3.82 and a debt-to-equity ratio of 0.14. CareTrust REIT has a 12 month low of $23.26 and a 12 month high of $33.15. The company has a market capitalization of $5.32 billion, a P/E ratio of 35.89, a P/E/G ratio of 1.25 and a beta of 1.11.

CareTrust REIT (NASDAQ:CTRE) last issued its earnings results on Wednesday, February 12th. The real estate investment trust reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.12). CareTrust REIT had a return on equity of 5.59% and a net margin of 42.22%. During the same period last year, the firm earned $0.25 earnings per share. As a group, equities analysts expect that CareTrust REIT will post 1.71 EPS for the current year.

Institutional Investors Weigh In On CareTrust REIT

Hedge funds and other institutional investors have recently made changes to their positions in the company. Advantage Trust Co acquired a new stake in shares of CareTrust REIT in the 4th quarter valued at $30,000. Versant Capital Management Inc increased its stake in shares of 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 valued at $40,000 after buying an additional 743 shares during the period. Blue Trust Inc. increased its stake in shares of 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 valued at $49,000 after buying an additional 603 shares during the period. Quarry LP increased its stake in shares of CareTrust REIT by 463.5% in the 4th quarter. Quarry LP now owns 1,854 shares of the real estate investment trust’s stock valued at $50,000 after buying an additional 1,525 shares during the period. Finally, Glen Eagle Advisors LLC bought a new position in shares of CareTrust REIT in the 4th quarter worth $56,000. 87.77% of the stock is owned by institutional investors and hedge funds.

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.