Wells Fargo Initiates Coverage on Caretrust REIT Inc to Market Perform

Wells Fargo Initiates Coverage on Caretrust REIT Inc(NASDAQ:CTRE). The shares have been rated Market Perform. The rating by Wells Fargo was issued on Jul 26, 2016.

Caretrust REIT Inc (CTRE) made into the market gainers list on Fridays trading session with the shares advancing 0.28% or 0.04 points. Due to strong positive momentum, the stock ended at $14.45, which is also near the day’s high of $14.632. The stock began the session at $14.38 and the volume stood at 4,68,198 shares. The 52-week high of the shares is $14.76 and the 52 week low is $9.12. The company has a current market capitalization of $837 M and it has 5,79,14,049 shares in outstanding.

Caretrust REIT Inc(CTRE) last announced its earnings results on May 11, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $23.63M. Analysts had an estimated revenue of $22.21M. Earnings per share were $0.27. Analysts had estimated an EPS of $0.26.

Several Insider Transactions has been reported to the SEC. On Nov 16, 2015, Gary B Sabin (director) purchased 20,000 shares at $10.25 per share price.Also, On Aug 17, 2015, William M Wagner (CFO) purchased 35,000 shares at $10.50 per share price.On Aug 17, 2015, Gregory K. Stapley (CEO) purchased 50,000 shares at $10.50 per share price, according to the Form-4 filing with the securities and exchange commission.

CareTrust REIT Inc. (CareTrust) is a self-administered self-managed real estate investment trust (REIT). The Company is engaged in the ownership acquisition and leasing of healthcare-related properties. The Company operates through an umbrella partnership in which all of the Company’s properties and assets are held through CTR Partnership L.P. (the Operating Partnership). The Operating Partnership is managed by CareTrust’s wholly owned subsidiary CareTrust GP LLC which is the sole general partner of the Operating Partnership. The Company’s portfolio consists of Skilled Nursing Facilities (SNF) Assisted Living Facilities (ALF) and Independent Living Facilities (ILF). The Company’s portfolio of SNFs ALFs and ILFs are diversified by geographic location throughout the western United States with concentrations in Texas and California.

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