CareTrust REIT’s (CTRE) Underperform Rating Reiterated at Wedbush

Wedbush reiterated their underperform rating on shares of CareTrust REIT (NASDAQ:CTRE) in a research note published on Friday morning,Benzinga reports. Wedbush currently has a $26.00 target price 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.

Several other research analysts have also issued reports on the company. BMO Capital Markets lowered 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 research report on Monday, December 9th. Royal Bank of Canada dropped their price objective on CareTrust REIT from $37.00 to $32.00 and set an “outperform” rating on the stock in a research note on Friday, February 21st. Wells Fargo & Company dropped their price objective on CareTrust REIT from $34.00 to $31.00 and set an “overweight” rating on the stock in a research note on Monday, March 10th. Finally, Deutsche Bank Aktiengesellschaft raised CareTrust REIT from a “hold” rating to a “buy” rating and set a $31.00 price objective on the stock in a research note on Thursday. One analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $31.00.

CareTrust REIT Stock Up 2.3 %

Shares of CTRE 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 firm has a market capitalization of $5.32 billion, a price-to-earnings ratio of 35.89, a PEG ratio of 1.25 and a beta of 1.11. The business’s fifty day moving average price is $26.42 and its two-hundred day moving average price is $28.66.

CareTrust REIT (NASDAQ:CTRE) last posted its quarterly earnings results on Wednesday, February 12th. The real estate investment trust reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate 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 business earned $0.25 earnings per share. On average, analysts predict that CareTrust REIT will post 1.71 earnings per share for the current year.

Institutional Trading of CareTrust REIT

Several hedge funds and other institutional investors have recently modified their holdings of CTRE. Assetmark Inc. acquired a new stake in shares of CareTrust REIT in the 3rd quarter valued at about $730,000. Los Angeles Capital Management LLC acquired a new stake in shares of CareTrust REIT in the 3rd quarter valued at about $708,000. Nations Financial Group Inc. IA ADV acquired a new stake in shares of CareTrust REIT in the 3rd quarter valued at about $278,000. Sumitomo Mitsui Trust Group Inc. raised its stake in shares of CareTrust REIT by 6.7% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 167,608 shares of the real estate investment trust’s stock valued at $5,172,000 after purchasing an additional 10,460 shares during the period. Finally, Victory Capital Management Inc. raised its stake in shares of CareTrust REIT by 7.2% in the 3rd quarter. Victory Capital Management Inc. now owns 835,506 shares of the real estate investment trust’s stock valued at $25,784,000 after purchasing an additional 56,015 shares during the period. Institutional investors and hedge funds own 87.77% of the company’s stock.

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.