Barclays Reiterates a Hold Rating on CareTrust REIT

By Ryan Adsit

In a report released today, Joshua Raskin from Barclays reiterated a Hold rating on CareTrust REIT (NASDAQ: CTRE), with a price target of $16. The company’s shares opened today at $13.50.

According to TipRanks.com, Raskin is a 4-star analyst with an average return of 5.2% and a 58.7% success rate. Raskin covers the Healthcare sector, focusing on stocks such as WellCare Health Plans, Surgery Partners Inc, and Envision Healthcare.

CareTrust REIT has an analyst consensus of Moderate Buy, with a price target consensus of $17.

CareTrust REIT’s market cap is currently $774M and has a P/E ratio of 37.36. The company has a book value ratio of 2.1391.

Based on the recent corporate insider activity of 10 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of CTRE in relation to earlier this year. Earlier this month, Gary Sabin, a Director at CTRE bought 20,000 shares for a total of $205,000.

CareTrust REIT, Inc. is a real estate investment company, which engages in the ownership, acquisition, and leasing of healthcare-related properties. It operates skilled nursing, assisted living, and independent living facilities. The company was founded on October 29, 2013 and is headquartered in Mission Viejo, CA.