Berenberg analyst Tao Qiu initiated coverage of CareTrust REIT with a Buy rating and $23 price target. CareTrust’s portfolio has shown resilience through the pandemic, anchored by its “strong” Ensign Group assets, the analyst tells investors. Recent deals have shown off management’s ability to foster and build upon new operator relationships, while growth should outpace peers’ due to the REIT’s smaller size and projected higher investment yield, the analyst contends.
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