why CareTrust REIT Inc. [CTRE] is a Good Choice for Investors After New Price Target of $22.35

CareTrust REIT Inc. [NYSE: CTRE] loss -0.09% or -0.02 points to close at $21.21 with a heavy trading volume of 347253 shares. The company report on August 4, 2022 that CareTrust REIT Announces Second Quarter 2022 Operating Results.


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Conference Call Scheduled for Friday, August 5, 2022 at 1:00 pm ET.

CareTrust REIT, Inc. (NYSE:CTRE) today reported operating results for the quarter ended June 30, 2022, as well as other recent events.

It opened the trading session at $21.42, the shares rose to $21.56 and dropped to $21.12, the range by which the price of stock traded the whole day. The daily chart for CTRE points out that the company has recorded 20.37% gains over the past six months. However, it is still -33.4% lower than its most recent low trading price.

If we look at the average trading volume of 667.17K shares, CTRE reached to a volume of 347253 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about CareTrust REIT Inc. [CTRE]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for CTRE shares is $22.35 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on CTRE stock is a recommendation set at 2.20. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

CapitalOne have made an estimate for CareTrust REIT Inc. shares, keeping their opinion on the stock as Equal Weight, with their previous recommendation back on June 03, 2022. While these analysts kept the previous recommendation, Barclays dropped their target price from $22 to $17. The new note on the price target was released on April 18, 2022, representing the official price target for CareTrust REIT Inc. stock. Previously, the target price had yet another raise to $20, while BMO Capital Markets analysts kept a Market Perform rating on CTRE stock.

The Average True Range (ATR) for CareTrust REIT Inc. is set at 0.45, with the Price to Sales ratio for CTRE stock in the period of the last 12 months amounting to 10.81. The Price to Book ratio for the last quarter was 2.44, with the Price to Cash per share for the same quarter was set at 0.31. Price to Free Cash Flow for CTRE in the course of the last twelve months was 46.95.

Trading performance analysis for CTRE stock

CareTrust REIT Inc. [CTRE] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -2.17. With this latest performance, CTRE shares gained by 1.48% in over the last four-week period, additionally plugging by 20.37% over the last 6 months – not to mention a drop of -5.73% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for CTRE stock in for the last two-week period is set at 49.37, with the RSI for the last a single of trading hit 40.96, and the three-weeks RSI is set at 53.97 for CareTrust REIT Inc. [CTRE]. The present Moving Average for the last 50 days of trading for this stock 20.44, while it was recorded at 21.44 for the last single week of trading, and 19.59 for the last 200 days.

CareTrust REIT Inc. [CTRE]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and CareTrust REIT Inc. [CTRE] shares currently have an operating margin of +55.40 and a Gross Margin at +69.37. CareTrust REIT Inc.’s Net Margin is presently recorded at +37.16.

Return on Equity for this stock inclined to 7.81, with Return on Assets sitting at 4.55.

CareTrust REIT Inc. [CTRE]: An earnings per share (EPS) analysis

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for CTRE. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for CareTrust REIT Inc. go to 10.80%.

An analysis of insider ownership at CareTrust REIT Inc. [CTRE]

There are presently around $1,757 million, or 87.20% of CTRE stock, in the hands of institutional investors. The top three institutional holders of CTRE stocks are: BLACKROCK INC. with ownership of 17,790,436, which is approximately -0.041% of the company’s market cap and around 0.40% of the total institutional ownership; VANGUARD GROUP INC, holding 15,634,843 shares of the stock with an approximate value of $331.62 million in CTRE stocks shares; and STATE STREET CORP, currently with $127.3 million in CTRE stock with ownership of nearly 0.707% of the company’s market capitalization.

Positions in CareTrust REIT Inc. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 115 institutional holders increased their position in CareTrust REIT Inc. [NYSE:CTRE] by around 5,227,898 shares. Additionally, 120 investors decreased positions by around 4,731,893 shares, while 35 investors held positions by with 72,880,378 shares. The mentioned changes placed institutional holdings at 82,840,169 shares, according to the latest SEC report filing. CTRE stock had 28 new institutional investments in for a total of 2,417,063 shares, while 34 institutional investors sold positions of 1,393,858 shares during the same period.

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