Caretrust REIT Inc (CTRE) was Reiterated by Canaccord Genuity to “Buy” according to the research note released today. The brokerage firm has raised the Price Target to $ 18 from a previous price target of $16 . Canaccord Genuity advised their investors in a research report released on Aug 15, 2016.
Many Wall Street Analysts have commented on Caretrust REIT Inc. Caretrust REIT Inc was Initiated by Wells Fargo to “Market Perform” on Jul 26, 2016.
On the company’s financial health, Caretrust REIT Inc reported $0.27 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Aug 8, 2016. Analyst had a consensus of $0.26. The company had revenue of $25.70 million for the quarter, compared to analysts expectations of $24.21 million. The company’s revenue was up 47.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.25 EPS.
Caretrust REIT Inc opened for trading at $14.9 and hit $15.19 on the upside on Friday, eventually ending the session at $15.09, with a gain of 1.68% or 0.25 points. The heightened volatility saw the trading volume jump to 1,82,797 shares. Company has a market cap of $874 M.
In a different news, on Nov 16, 2015, Gary B Sabin (director) purchased 20,000 shares at $10.25 per share price. According to the SEC, on Aug 17, 2015, William M Wagner (CFO) purchased 35,000 shares at $10.50 per share price. On Aug 17, 2015, Gregory K. Stapley (CEO) purchased 50,000 shares at $10.50 per share price, according to the Form-4 filing with the securities and exchange commission.
CareTrust REIT Inc. (CareTrust) is a self-administered self-managed real estate investment trust (REIT). The Company is engaged in the ownership acquisition and leasing of healthcare-related properties. The Company operates through an umbrella partnership in which all of the Company’s properties and assets are held through CTR Partnership L.P. (the Operating Partnership). The Operating Partnership is managed by CareTrust’s wholly owned subsidiary CareTrust GP LLC which is the sole general partner of the Operating Partnership. The Company’s portfolio consists of Skilled Nursing Facilities (SNF) Assisted Living Facilities (ALF) and Independent Living Facilities (ILF). The Company’s portfolio of SNFs ALFs and ILFs are diversified by geographic location throughout the western United States with concentrations in Texas and California.