CareTrust REIT, Inc. (NASDAQ:CTRE) was downgraded by equities researchers at BidaskClub from a “strong-buy” rating to a “buy” rating in a report issued on Saturday.
A number of other equities analysts also recently issued reports on the company. BMO Capital Markets downgraded CareTrust REIT from an “outperform” rating to a “market perform” rating and increased their price target for the stock from $18.00 to $20.00 in a research report on Tuesday, June 20th. Raymond James Financial, Inc. reiterated an “outperform” rating and set a $19.00 price target (up previously from $17.00) on shares of CareTrust REIT in a research report on Wednesday, May 17th. Zacks Investment Research upgraded CareTrust REIT from a “hold” rating to a “buy” rating and set a $20.00 price target on the stock in a research report on Tuesday, May 16th. TheStreet upgraded CareTrust REIT from a “c” rating to a “b” rating in a research report on Friday, May 5th. Finally, Canaccord Genuity reiterated a “buy” rating and set a $19.00 price target on shares of CareTrust REIT in a research report on Wednesday, May 3rd. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $18.00.
CareTrust REIT (NASDAQ CTRE) traded up 0.55% during mid-day trading on Friday, reaching $18.24. The company’s stock had a trading volume of 318,822 shares. CareTrust REIT has a 12-month low of $12.70 and a 12-month high of $19.86.
Several institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in CareTrust REIT by 5.6% in the first quarter. Vanguard Group Inc. now owns 10,572,588 shares of the real estate investment trust’s stock valued at $177,831,000 after buying an additional 562,080 shares during the period. BlackRock Inc. increased its position in CareTrust REIT by 2,476.7% in the first quarter. BlackRock Inc. now owns 9,265,924 shares of the real estate investment trust’s stock valued at $155,855,000 after buying an additional 8,906,314 shares during the period. FMR LLC increased its position in CareTrust REIT by 1,036.2% in the first quarter. FMR LLC now owns 6,311,699 shares of the real estate investment trust’s stock valued at $106,163,000 after buying an additional 5,756,172 shares during the period. Bank of New York Mellon Corp increased its position in CareTrust REIT by 4.9% in the first quarter. Bank of New York Mellon Corp now owns 2,452,402 shares of the real estate investment trust’s stock valued at $41,250,000 after buying an additional 113,591 shares during the period. Finally, State Street Corp increased its position in CareTrust REIT by 11.8% in the first quarter. State Street Corp now owns 1,743,435 shares of the real estate investment trust’s stock valued at $29,323,000 after buying an additional 184,451 shares during the period. Institutional investors and hedge funds own 86.69% of the company’s stock.
About CareTrust REIT
CareTrust REIT, Inc is a self-administered, self-managed real estate investment trust. The Company is engaged in the ownership, acquisition and leasing of healthcare-related properties. It makes investments in healthcare-related real estate assets. As of December 31, 2016, its real estate portfolio included 154 skilled nursing facilities (SNFs), SNF Campuses, assisted living facilities and independent living facilities.
