In a report released today, Juan C. Sanabria from BMO Capital initiated coverage with a Buy rating on CareTrust REIT (CTRE) and a price target of $26.00. The company’s shares closed last Wednesday at $23.10, close to its 52-week high of $23.88.
According to TipRanks.com, Sanabria is a 2-star analyst with an average return of 1.6% and a 55.6% success rate. Sanabria covers the Financial sector, focusing on stocks such as National Storage Affiliates, Healthpeak Properties, and Physicians Realty.
Currently, the analyst consensus on CareTrust REIT is a Strong Buy with an average price target of $24.20.
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CareTrust REIT’s market cap is currently $2.22B and has a P/E ratio of 27.60. The company has a Price to Book ratio of 2.43.
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CareTrust REIT, Inc. operates as real estate investment company, which engages in the ownership, acquisition, and leasing of healthcare-related properties. It offers independent living, memory care, and assisted, and skilled nursing facilities. The company was founded on October 29, 2013 and is headquartered in San Clemente, CA.