CareTrust REIT (NYSE:CTRE) Given New $43.00 Price Target at Cantor Fitzgerald

Key Points

• Cantor Fitzgerald raised CareTrust REIT’s price target to $43 from $42 while maintaining a “neutral” rating, implying approximately 4.33% upside from the previous close.
• Analyst sentiment is broadly positive: CareTrust has a consensus “Buy” rating and a $44.91 average price target, with recent upgrades and higher targets from BMO Capital Markets and Wells Fargo.
• CTRE opened at $41.22, near its 52-week high of $43.62, while institutional investors and hedge funds own a substantial 87.77% of the stock.

CareTrust REIT (NYSE:CTRE - Get Free Report) had its price objective lifted by equities research analysts at Cantor Fitzgerald from $42.00 to $43.00 in a research note issued on Monday,Benzinga reports. The firm presently has a "neutral" rating on the stock. Cantor Fitzgerald's price objective would suggest a potential upside of 4.33% from the company's previous close.

Several other equities analysts have also recently commented on the stock. BMO Capital Markets increased their price target on shares of CareTrust REIT from $46.00 to $47.00 and gave the stock an "outperform" rating in a research report on Monday, June 15th. Zacks Research upgraded CareTrust REIT from a "strong sell" rating to a "hold" rating in a research note on Monday, May 25th. Weiss Ratings raised CareTrust REIT from a "buy (b+)" rating to a "buy (a-)" rating in a report on Wednesday. Wells Fargo & Company boosted their price target on CareTrust REIT from $42.00 to $47.00 and gave the company an "overweight" rating in a report on Monday, June 1st. Finally, Citigroup reaffirmed a "market outperform" rating on shares of CareTrust REIT in a report on Wednesday, June 10th. Two research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $44.91.

CareTrust REIT Price Performance

Shares of CTRE stock opened at $41.22 on Monday. The firm has a market cap of $9.74 billion, a P/E ratio of 25.92, a P/E/G ratio of 1.85 and a beta of 0.75. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.57 and a quick ratio of 0.57. CareTrust REIT has a 1-year low of $32.25 and a 1-year high of $43.62. The firm has a fifty day moving average of $40.11 and a two-hundred day moving average of $39.54.

Institutional Trading of CareTrust REIT

Several large investors have recently added to or reduced their stakes in CTRE. Principal Financial Group Inc. raised its position in shares of CareTrust REIT by 7.5% during the fourth quarter. Principal Financial Group Inc. now owns 1,328,660 shares of the company's stock worth $48,044,000 after purchasing an additional 93,101 shares during the period. B&I Capital AG acquired a new position in shares of CareTrust REIT in the fourth quarter worth about $10,989,000. Jennison Associates LLC acquired a new stake in shares of CareTrust REIT during the fourth quarter valued at approximately $1,156,000. M&T Bank Corp purchased a new stake in shares of CareTrust REIT in the fourth quarter valued at $894,000. Finally, Copeland Capital Management LLC boosted its position in CareTrust REIT by 5.1% during the 4th quarter. Copeland Capital Management LLC now owns 1,802,843 shares of the company's stock worth $65,191,000 after acquiring an additional 86,742 shares during the period. 87.77% of the stock is currently owned by institutional investors and hedge funds.

CareTrust REIT Company Profile

CareTrust REIT, Inc is a real estate investment trust based in Deerfield Beach, Florida, specializing in the ownership, acquisition and management of net-leased healthcare properties. The company primarily focuses on seniors housing and post-acute care facilities, entering into long-term, triple-net lease agreements with leading operators in the skilled nursing, assisted living, memory care, inpatient rehabilitation and specialty hospital sectors. Through its portfolio, CareTrust REIT aims to provide investors with stable and predictable rental income while supporting the ongoing demand for quality healthcare real estate across the United States.

Since its initial public offering in September 2013, CareTrust REIT has pursued a disciplined acquisition strategy, targeting properties in primary and select secondary markets.

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