CareTrust REIT (NASDAQ:CTRE - Get Free Report) had its target price upped by analysts at Wells Fargo & Company from $32.00 to $38.00 in a report released on Wednesday,Benzinga reports. The firm presently has an "overweight" rating on the real estate investment trust's stock. Wells Fargo & Company's target price indicates a potential upside of 10.47% from the stock's previous close.
A number of other research analysts also recently weighed in on CTRE. KeyCorp increased their price objective on shares of CareTrust REIT from $33.00 to $36.00 and gave the company an "overweight" rating in a research report on Thursday, August 14th. Royal Bank Of Canada restated an "outperform" rating on shares of CareTrust REIT in a research report on Monday, August 11th. Four investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $32.50.
Check Out Our Latest Stock Report on CareTrust REIT
CareTrust REIT Stock Down 0.2%
Shares of NASDAQ:CTRE traded down $0.06 during trading on Wednesday, reaching $34.40. 2,124,496 shares of the stock traded hands, compared to its average volume of 1,956,533. The stock has a 50-day moving average of $31.99 and a two-hundred day moving average of $29.45. CareTrust REIT has a 52-week low of $24.79 and a 52-week high of $34.92. The company has a debt-to-equity ratio of 0.14, a quick ratio of 3.82 and a current ratio of 3.82. The stock has a market cap of $7.50 billion, a P/E ratio of 43.54, a price-to-earnings-growth ratio of 1.25 and a beta of 0.85.
Institutional Investors Weigh In On CareTrust REIT
Several institutional investors have recently made changes to their positions in the company. D.A. Davidson & CO. lifted its holdings in shares of CareTrust REIT by 0.8% in the 2nd quarter. D.A. Davidson & CO. now owns 39,849 shares of the real estate investment trust's stock worth $1,219,000 after acquiring an additional 327 shares during the last quarter. SageView Advisory Group LLC lifted its holdings in shares of CareTrust REIT by 2.9% in the 2nd quarter. SageView Advisory Group LLC now owns 11,900 shares of the real estate investment trust's stock worth $364,000 after acquiring an additional 332 shares during the last quarter. J. W. Coons Advisors LLC lifted its holdings in shares of CareTrust REIT by 4.1% in the 1st quarter. J. W. Coons Advisors LLC now owns 8,876 shares of the real estate investment trust's stock worth $254,000 after acquiring an additional 347 shares during the last quarter. Norinchukin Bank The lifted its holdings in shares of CareTrust REIT by 4.6% in the 1st quarter. Norinchukin Bank The now owns 8,662 shares of the real estate investment trust's stock worth $248,000 after acquiring an additional 382 shares during the last quarter. Finally, Quantinno Capital Management LP lifted its holdings in CareTrust REIT by 2.3% during the 4th quarter. Quantinno Capital Management LP now owns 17,482 shares of the real estate investment trust's stock valued at $473,000 after buying an additional 385 shares in the last quarter. Institutional investors own 87.77% of the company's stock.
About CareTrust REIT
(
Get Free Report)
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.
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