Miles Capital Inc. raised its position in Caretrust REIT Inc (NASDAQ:CTRE) by 23.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,311 shares of the real estate investment trust’s stock after purchasing an additional 2,502 shares during the quarter. Miles Capital Inc.’s holdings in Caretrust REIT were worth $317,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Westside Investment Management Inc. purchased a new position in Caretrust REIT in the second quarter valued at about $16,842,000. Meridian Wealth Management LLC bought a new stake in shares of Caretrust REIT during the 2nd quarter worth about $95,000. Russell Investments Group Ltd. bought a new stake in shares of Caretrust REIT during the 2nd quarter worth about $146,000. Nvwm LLC bought a new stake in shares of Caretrust REIT during the 2nd quarter worth about $151,000. Finally, Winslow Evans & Crocker Inc. bought a new stake in shares of Caretrust REIT during the 2nd quarter worth about $172,000. Hedge funds and other institutional investors own 88.53% of the company’s stock.
NASDAQ:CTRE traded down $0.18 during mid-day trading on Friday, hitting $22.95. 35,936 shares of the company’s stock traded hands, compared to its average volume of 750,829. The firm has a 50 day moving average of $23.38 and a two-hundred day moving average of $23.81. Caretrust REIT Inc has a 12 month low of $16.68 and a 12 month high of $25.54. The firm has a market capitalization of $2.19 billion, a price-to-earnings ratio of 17.96 and a beta of 0.73. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.56.
Caretrust REIT (NASDAQ:CTRE) last announced its earnings results on Tuesday, August 6th. The real estate investment trust reported $0.21 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.14). The business had revenue of $46.20 million for the quarter, compared to the consensus estimate of $43.23 million. Caretrust REIT had a net margin of 39.70% and a return on equity of 8.08%. Caretrust REIT’s revenue for the quarter was up 18.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.33 EPS. As a group, equities research analysts expect that Caretrust REIT Inc will post 1.37 earnings per share for the current year.
Several analysts have recently issued reports on CTRE shares. ValuEngine downgraded Caretrust REIT from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Barclays started coverage on Caretrust REIT in a research note on Tuesday, September 3rd. They set an “overweight” rating and a $26.00 price target for the company. BMO Capital Markets reiterated a “buy” rating and set a $26.00 price target on shares of Caretrust REIT in a research note on Wednesday, August 7th. Zacks Investment Research downgraded Caretrust REIT from a “hold” rating to a “strong sell” rating in a research note on Monday, August 19th. Finally, Raymond James downgraded Caretrust REIT from a “strong-buy” rating to a “market perform” rating and set a $25.00 price target for the company. in a research note on Friday, May 31st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the company’s stock. Caretrust REIT presently has an average rating of “Buy” and a consensus target price of $24.75.
About Caretrust REIT
CareTrust REIT, Inc is a self-administered, publicly-traded real estate investment trust engaged in the ownership, acquisition and leasing of seniors housing and healthcare-related properties. With 199 net-leased healthcare properties and three operated seniors housing properties in 27 states, CareTrust is pursuing opportunities across the nation to acquire properties that will be leased to a diverse group of local, regional and national seniors housing operators, healthcare services providers, and other healthcare-related businesses.
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