CareTrust rises as Deutsche Bank upgrades to 'buy' on acquisition streak

CareTrust REIT

13/03/2025 15:54

** CareTrust REIT's CTRE.N shares rise 2.3% to $27.63

** Brokerage Deutsche Bank upgrades stock to "buy" rating from "hold" and raises PT to $31 from $27

** New PT is 14.7% upside to the stock's last close

** CTRE has been on a strong acquisition streak with ~$1.5 bln of acquisitions in 2024 and the just announced $817 mln acquisition of Care REIT - Deutsche Bank

** "There are very few REITs delivering this type of growth and such growth is typically rewarded with a high valuation multiple," brokerage says

** Brokerage suggests that actual earnings risk may be lower than investors fear

** Six of 11 brokerages rate the stock "buy" or higher, four "hold", one "sell" or lower; their median PT is $31.11 - LSEG

** CTRE has risen 14.4% in the past 12 months

 (Reporting by Siddhi Mahatole)

 ((siddhi.mahatole@thomsonreuters.com))