CareTrust's Growth Prospects: Analyst Upgrades Amid Growing Pipeline Of Opportunities, Accretive Acquisitions
Portfolio Pulse from Nabaparna Bhattacharya
BMO Capital Markets analyst Juan C. Sanabria has upgraded CareTrust REIT, Inc. (CTRE) from Market Perform to Outperform, raising the price target to $24 from $23.50. Sanabria sees limited risks for CTRE in the near-to-medium term and applauds the company's growing pipeline of opportunities and accretive acquisitions. The analyst also notes that CTRE's top tenant, The Ensign Group, Inc. (ENSG), is a blue-chip SNF operator with 3.3x EBITDAR rent coverage.
August 16, 2023 | 7:39 pm
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POSITIVE IMPACT
CareTrust REIT, Inc. has been upgraded by BMO Capital Markets, with a raised price target. The company's growing pipeline and accretive acquisitions are seen as positive.
The upgrade by BMO Capital Markets and the raised price target indicate a positive outlook for CTRE. The company's growing pipeline and accretive acquisitions are seen as strengths.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
The Ensign Group, Inc., a top tenant of CareTrust REIT, Inc., is highlighted as a blue-chip SNF operator with 3.3x EBITDAR rent coverage.
ENSG's strong rent coverage and status as a top tenant of CTRE are seen as positive. This could indicate a stable income stream for CTRE and a positive outlook for ENSG.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 60