CareTrust Poised For 10.8% Boom In 2024: Analyst Praises Portfolio Optimization & Balance Sheet
Portfolio Pulse from Nabaparna Bhattacharya
RBC Capital Markets analyst Michael Carroll has upgraded CareTrust REIT, Inc. (NYSE:CTRE) to Outperform from Sector Perform, raising the price target to $23 from $19. Carroll believes CTRE is well-positioned to deploy accretive capital aggressively and expects the company's core growth rate to be 10.8% in 2024 and 8.3% in 2025. The company's net debt to EBITDA ratio has dropped from the low-4.0x range a year ago to 3.5x today.
September 12, 2023 | 5:38 pm
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CareTrust REIT, Inc. has been upgraded to Outperform by RBC Capital Markets, with a raised price target of $23. The company's net debt to EBITDA ratio has improved, and it is expected to show a core growth rate of 10.8% in 2024.
The upgrade by RBC Capital Markets and the raised price target indicate a positive outlook for CareTrust REIT, Inc. The company's improved net debt to EBITDA ratio and expected core growth rate also suggest potential for stock price appreciation.
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IMPORTANCE 80
RELEVANCE 100