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

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