Today: CareTrust REIT Inc. (CTRE) Receives Consensus Recommendation of “Hold” from Analysts

Today: CareTrust REIT Inc. (CTRE) Receives Consensus Recommendation of “Hold” from Analysts

Shares of CareTrust REIT Inc. (NASDAQ:CTRE) have received a consensus recommendation of “Hold” from the nine brokerages that are presently covering the company. Five equities research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $14.88.

CTRE has been the subject of a number of analyst reports. Canaccord Genuity reiterated a “buy” rating and issued a $18.00 price objective on shares of CareTrust REIT in a research report on Thursday, September 8th. Zacks Investment Research downgraded shares of CareTrust REIT from a “buy” rating to a “hold” rating in a research report on Thursday, November 10th. Barclays PLC restated a “hold” rating and set a $16.00 price target on shares of CareTrust REIT in a research report on Thursday, November 3rd. JMP Securities initiated coverage on shares of CareTrust REIT in a research report on Monday, October 24th. They set a “market perform” rating for the company. Finally, Stephens initiated coverage on shares of CareTrust REIT in a research report on Wednesday, September 14th. They set an “overweight” rating and a $16.00 price target for the company.

A number of hedge funds have recently added to or reduced their stakes in CTRE. D.A. Davidson & CO. increased its stake in CareTrust REIT by 8.6% in the third quarter. D.A. Davidson & CO. now owns 33,041 shares of the real estate investment trust’s stock worth $487,000 after buying an additional 2,625 shares during the last quarter. Cornerstone Capital Management Holdings LLC. acquired a new stake in CareTrust REIT during the third quarter worth approximately $546,000. Panagora Asset Management Inc. increased its stake in CareTrust REIT by 1,807.2% in the third quarter. Panagora Asset Management Inc. now owns 14,552 shares of the real estate investment trust’s stock worth $215,000 after buying an additional 13,789 shares during the last quarter. D. E. Shaw & Co. Inc. increased its stake in CareTrust REIT by 1.2% in the third quarter. D. E. Shaw & Co. Inc. now owns 331,101 shares of the real estate investment trust’s stock worth $4,894,000 after buying an additional 4,070 shares during the last quarter. Finally, The Manufacturers Life Insurance Company acquired a new stake in CareTrust REIT during the third quarter worth approximately $593,000. Institutional investors own 76.69% of the company’s stock.

CareTrust REIT (NASDAQ:CTRE) traded down 0.35% on Monday, reaching $14.27. The company had a trading volume of 175,834 shares. CareTrust REIT has a 1-year low of $9.12 and a 1-year high of $15.88. The company’s 50-day moving average price is $13.87 and its 200 day moving average price is $14.12. The firm has a market capitalization of $826.16 million, a P/E ratio of 37.06 and a beta of 0.99.

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