CareTrust REIT (NASDAQ:CTRE) Upgraded to “Outperform” at Royal Bank of Canada

CareTrust REIT (NASDAQ:CTRE) was upgraded by equities researchers at Royal Bank of Canada from a “sector perform” rating to an “outperform” rating in a report issued on Monday, FlyOnTheWall reports.

Several other brokerages also recently commented on CTRE. StockNews.com began coverage on shares of CareTrust REIT in a research report on Thursday, August 17th. They set a “hold” rating for the company. TheStreet cut shares of CareTrust REIT from a “b-” rating to a “c” rating in a report on Friday, August 4th. BMO Capital Markets raised shares of CareTrust REIT from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $23.50 to $24.00 in a research note on Wednesday, August 16th. Finally, Berenberg Bank initiated coverage on shares of CareTrust REIT in a research report on Thursday, July 27th. They set a “buy” rating and a $23.00 price objective on the stock. Three investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $21.83.

CareTrust REIT Trading Up 0.2 %

Shares of CareTrust REIT stock traded up $0.05 on Monday, hitting $20.11. 684,616 shares of the company’s stock traded hands, compared to its average volume of 676,457. The company has a fifty day moving average of $20.22 and a two-hundred day moving average of $19.71. CareTrust REIT has a one year low of $16.22 and a one year high of $21.46. The company has a market capitalization of $2.00 billion, a price-to-earnings ratio of 57.46 and a beta of 1.10. The company has a debt-to-equity ratio of 1.08, a current ratio of 0.07 and a quick ratio of 0.07.

Institutional Trading of CareTrust REIT

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CTRE. Signaturefd LLC boosted its holdings in shares of CareTrust REIT by 63.7% in the 2nd quarter. Signaturefd LLC now owns 1,362 shares of the real estate investment trust’s stock worth $27,000 after buying an additional 530 shares during the last quarter. Sunbelt Securities Inc. purchased a new position in CareTrust REIT in the first quarter valued at about $34,000. CWM LLC grew its position in shares of CareTrust REIT by 77.3% during the 1st quarter. CWM LLC now owns 2,129 shares of the real estate investment trust’s stock valued at $42,000 after acquiring an additional 928 shares during the period. Tower Research Capital LLC TRC increased its stake in shares of CareTrust REIT by 366.0% during the 1st quarter. Tower Research Capital LLC TRC now owns 2,344 shares of the real estate investment trust’s stock worth $46,000 after purchasing an additional 1,841 shares during the last quarter. Finally, Cerity Partners LLC bought a new stake in shares of CareTrust REIT in the 1st quarter worth approximately $548,000. 92.24% of the stock is owned by institutional investors.

About CareTrust REIT

CareTrust REIT, Inc is a self-administered, publicly-traded real estate investment trust engaged in the ownership, acquisition, development and leasing of skilled nursing, seniors housing and other healthcare-related properties. With a nationwide portfolio of long-term net-leased properties, and a growing portfolio of quality operators leasing them, CareTrust REIT is pursuing both external and organic growth opportunities across the United States.