CareTrust REIT downgraded to Underperform from Neutral at Wedbush

Wedbush downgraded CareTrust REIT (CTRE) to Underperform from Neutral with a price target of $26, down from $34. The firm says the “bloom will start to come off the rose” for CareTrust’s skilled nursing facilities as 2025 unfolds with political uncertainty around Medicare reimbursement and possible contention between the federal government and states that could also impact Medicaid. As such, Wedbush believes the stock’s premium valuation will become “incrementally vulnerable.”