Stifel analyst Chad Vanacore upgraded CareTrust REIT (CTRE) to Buy and raised his price target to $21 from $17. The analyst says the company is poised for better FFO and acquisition growth, with added tailwinds coming from improved sentiment for the skilled nursing facility industry along with better outlook “under proposed PDPM Medicare payment model”. Vanacore anticipates CareTrust REIT portfolio to improve in 2019 from new acquisitions and the strength of its primary tenant Ensign Group (ENSG).
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