Shares of CareTrust REIT, Inc. (NYSE: CTRE) experienced a slight increase of 0.1% during mid-day trading on Friday, reaching a high of $36.62 before settling at $36.31. Approximately 6,179,625 shares changed hands, marking a significant rise of 262% from the average daily trading volume of 1,705,296 shares. The stock had closed at $36.26 the previous day.
Analysts have recently shown increased confidence in CareTrust REIT. On November 18, UBS Group upgraded the stock to a “strong-buy” rating, reflecting a positive outlook for the company. Additionally, Weiss Ratings reaffirmed a “buy (A-)” rating on December 15. In a separate note, Cantor Fitzgerald also raised its rating to “hold” on October 1. Currently, two analysts have assigned a strong buy rating, while one has issued a hold rating, contributing to a consensus rating of “buy” according to data from MarketBeat.
Recent Financial Performance
CareTrust REIT most recently reported its quarterly earnings on November 5, 2023. The company posted earnings per share (EPS) of $0.35 for the quarter. With a net margin of 61.00% and a return on equity of 7.95%, the firm generated revenue of $132.44 million during the period. This robust performance underscores the company’s strategic focus on the healthcare sector.
Founded in Deerfield Beach, Florida, CareTrust REIT specializes in the ownership, acquisition, and management of net-leased healthcare properties. The company primarily targets seniors housing and post-acute care facilities, engaging in long-term, triple-net lease agreements with leading operators in skilled nursing, assisted living, memory care, inpatient rehabilitation, and specialty hospitals.
Since its initial public offering in September 2013, CareTrust REIT has pursued a disciplined acquisition strategy. The company emphasizes properties located in primary and select secondary markets, aiming to provide investors with stable and predictable rental income while addressing the ongoing demand for quality healthcare real estate across the United States.
Investors and analysts alike will be watching CareTrust REIT’s performance closely in the coming months, especially in light of the recent upgrades and the company’s financial results. As healthcare real estate continues to attract attention, CareTrust REIT remains positioned as a key player in this evolving market.
