SG Americas Securities LLC lowered its position in CareTrust REIT, Inc. (NYSE:CTRE – Free Report) by 1.6% in the first quarter, HoldingsChannel.com reports. The fund owned 850,861 shares of the company’s stock after selling 14,268 shares during the quarter. SG Americas Securities LLC’s holdings in CareTrust REIT were worth $31,184,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors also recently modified their holdings of CTRE. T. Rowe Price Investment Management Inc. increased its stake in shares of CareTrust REIT by 108.5% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 6,493,898 shares of the company’s stock worth $234,820,000 after purchasing an additional 3,379,732 shares during the last quarter. Norges Bank acquired a new stake in CareTrust REIT in the 4th quarter valued at about $114,810,000. Hudson Bay Capital Management LP grew its holdings in CareTrust REIT by 713.4% during the third quarter. Hudson Bay Capital Management LP now owns 1,710,528 shares of the company’s stock worth $59,321,000 after purchasing an additional 1,989,394 shares during the period. Wellington Management Group LLP grew its holdings in CareTrust REIT by 18.1% during the fourth quarter. Wellington Management Group LLP now owns 12,355,966 shares of the company’s stock worth $446,792,000 after purchasing an additional 1,893,143 shares during the period. Finally, Daiwa Securities Group Inc. increased its position in CareTrust REIT by 114.4% during the third quarter. Daiwa Securities Group Inc. now owns 3,238,307 shares of the company’s stock worth $112,305,000 after buying an additional 1,728,043 shares during the last quarter. Institutional investors own 87.77% of the company’s stock.
CareTrust REIT Stock Up 3.4%
CTRE stock opened at $38.77 on Wednesday. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.38 and a quick ratio of 2.37. The stock has a market capitalization of $9.16 billion, a price-to-earnings ratio of 24.85, a PEG ratio of 1.69 and a beta of 0.76. The business’s fifty day moving average price is $39.28 and its two-hundred day moving average price is $38.48. CareTrust REIT, Inc. has a fifty-two week low of $29.91 and a fifty-two week high of $43.08.
CareTrust REIT Dividend Announcement
Wall Street Analyst Weigh In
Several analysts have issued reports on CTRE shares. Royal Bank Of Canada upped their price objective on CareTrust REIT from $41.00 to $44.00 and gave the company an “outperform” rating in a research note on Tuesday, February 24th. Raymond James Financial began coverage on CareTrust REIT in a report on Tuesday, June 16th. They set an “outperform” rating and a $43.00 target price on the stock. KeyCorp restated an “overweight” rating and issued a $46.00 price target on shares of CareTrust REIT in a research note on Friday, May 29th. Zacks Research raised CareTrust REIT from a “strong sell” rating to a “hold” rating in a report on Monday, May 25th. Finally, Wells Fargo & Company lifted their price objective on shares of CareTrust REIT from $42.00 to $47.00 and gave the stock an “overweight” rating in a research report on Monday, June 1st. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, CareTrust REIT presently has a consensus rating of “Moderate Buy” and a consensus target price of $44.82.
Get Our Latest Analysis on CareTrust REIT
CareTrust REIT Company Profile
CareTrust REIT, Inc is a real estate investment trust based in Deerfield Beach, Florida, specializing in the ownership, acquisition and management of net-leased healthcare properties. The company primarily focuses on seniors housing and post-acute care facilities, entering into long-term, triple-net lease agreements with leading operators in the skilled nursing, assisted living, memory care, inpatient rehabilitation and specialty hospital sectors. Through its portfolio, CareTrust REIT aims to provide investors with stable and predictable rental income while supporting the ongoing demand for quality healthcare real estate across the United States.
Since its initial public offering in September 2013, CareTrust REIT has pursued a disciplined acquisition strategy, targeting properties in primary and select secondary markets.
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