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.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100