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

Wedbush reaffirmed their underperform rating on shares of CareTrust REIT (NASDAQ:CTRE) in a report issued on Friday,Benzinga reports. Wedbush currently has a $26.00 price objective on the real estate investment trust’s stock. 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.

A number of other research firms have also recently commented on CTRE. BMO Capital Markets cut CareTrust REIT from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $34.00 to $32.00 in a report on Monday, December 9th. Deutsche Bank Aktiengesellschaft upgraded CareTrust REIT from a “hold” rating to a “buy” rating and set a $31.00 price objective for the company in a report on Thursday. Royal Bank of Canada reduced their price objective on CareTrust REIT from $37.00 to $32.00 and set an “outperform” rating for the company in a report on Friday, February 21st. Finally, Wells Fargo & Company reduced their price objective on CareTrust REIT from $34.00 to $31.00 and set an “overweight” rating for the company in a report on Monday, March 10th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the stock. According to MarketBeat, CareTrust REIT currently has a consensus rating of “Moderate Buy” and an average target price of $31.00.

CareTrust REIT Trading Up 2.3 %

CareTrust REIT stock opened at $28.35 on Friday. CareTrust REIT has a 52 week low of $23.26 and a 52 week high of $33.15. 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 capitalization of $5.32 billion, a P/E ratio of 35.89, a PEG ratio of 1.25 and a beta of 1.11. The stock has a 50-day simple moving average of $26.42 and a 200 day simple moving average of $28.66.

CareTrust REIT (NASDAQ:CTRE) last posted its quarterly earnings results on Wednesday, February 12th. The real estate investment trust reported $0.29 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 in the prior year, the firm posted $0.25 EPS. Analysts expect that CareTrust REIT will post 1.71 earnings per share for the current year.

Institutional Investors Weigh In On CareTrust REIT

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Quantinno Capital Management LP raised its position in shares of CareTrust REIT by 2.3% in the fourth 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. Signaturefd LLC raised its position in shares of CareTrust REIT by 20.3% in the fourth quarter. Signaturefd LLC now owns 2,628 shares of the real estate investment trust’s stock valued at $71,000 after buying an additional 443 shares in the last quarter. WealthShield Partners LLC raised its position in shares of CareTrust REIT by 1.0% in the fourth quarter. WealthShield Partners LLC now owns 49,119 shares of the real estate investment trust’s stock valued at $1,343,000 after buying an additional 490 shares in the last quarter. PNC Financial Services Group Inc. raised its position in shares of CareTrust REIT by 4.9% in the fourth quarter. PNC Financial Services Group Inc. now owns 11,384 shares of the real estate investment trust’s stock valued at $308,000 after buying an additional 534 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC raised its position in shares of CareTrust REIT by 5.4% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 11,777 shares of the real estate investment trust’s stock valued at $319,000 after buying an additional 601 shares in the last quarter. 87.77% of the stock is currently 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.