CTRE - CareTrust Poised For 10.8% Boom In 2024: Analyst Praises Portfolio Optimization & Balance Sheet | Benzinga
RBC Capital Markets analyst Michael Carroll upgraded the rating of CareTrust REIT, Inc. (NYSE: CTRE) to Outperform from Sector Perform, raising the price target to $23 from $19.
Carroll thinks CTRE is uniquely positioned in the current environment to deploy accretive capital aggressively.
The analyst notes that management is winding down its portfolio optimization plan with six assets re-stabilizing and 15 properties held for sale.
Carroll expects the six re-stabilizing properties to add $2.6 million of incremental rent, $0.02/share, in 2024, and the assets held for sale should generate ~$20-25 million of net proceeds.
The analyst believes that the ...