Sound Income Strategies LLC lowered its position in CareTrust REIT, Inc. (NYSE:CTRE – Free Report) by 96.6% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 21,482 shares of the company’s stock after selling 606,789 shares during the period. Sound Income Strategies LLC’s holdings in CareTrust REIT were worth $769,000 at the end of the most recent reporting period.
Other institutional investors have also recently added to or reduced their stakes in the company. Kestra Private Wealth Services LLC raised its holdings in shares of CareTrust REIT by 1.1% during the 1st quarter. Kestra Private Wealth Services LLC now owns 27,684 shares of the company’s stock valued at $1,015,000 after purchasing an additional 297 shares in the last quarter. Anchor Investment Management LLC raised its holdings in CareTrust REIT by 4.3% during the second quarter. Anchor Investment Management LLC now owns 7,260 shares of the company’s stock valued at $293,000 after buying an additional 297 shares in the last quarter. Farther Finance Advisors LLC lifted its position in shares of CareTrust REIT by 6.0% in the third quarter. Farther Finance Advisors LLC now owns 5,330 shares of the company’s stock worth $195,000 after buying an additional 303 shares during the last quarter. IFM Investors Pty Ltd boosted its stake in shares of CareTrust REIT by 1.0% during the 1st quarter. IFM Investors Pty Ltd now owns 36,608 shares of the company’s stock worth $1,342,000 after acquiring an additional 345 shares in the last quarter. Finally, NewEdge Advisors LLC boosted its stake in shares of CareTrust REIT by 1.0% during the 2nd quarter. NewEdge Advisors LLC now owns 37,934 shares of the company’s stock worth $1,531,000 after acquiring an additional 362 shares in the last quarter. 87.77% of the stock is currently owned by institutional investors and hedge funds.
CareTrust REIT Stock Up 0.6%
Shares of CTRE stock opened at $35.99 on Friday. CareTrust REIT, Inc. has a one year low of $32.79 and a one year high of $43.62. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.57 and a quick ratio of 0.57. The stock has a fifty day moving average price of $38.61 and a 200 day moving average price of $39.33. The stock has a market cap of $8.51 billion, a P/E ratio of 22.64, a price-to-earnings-growth ratio of 1.40 and a beta of 0.75.
CareTrust REIT Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Wednesday, September 30th will be given a dividend of $0.39 per share. The ex-dividend date is Wednesday, September 30th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 4.3%. CareTrust REIT’s dividend payout ratio (DPR) is 98.11%.
Analyst Upgrades and Downgrades
CTRE has been the topic of a number of recent analyst reports. Huntington started coverage on CareTrust REIT in a research note on Thursday, September 10th. They issued an “outperform” rating and a $44.00 price objective on the stock. BMO Capital Markets lowered their price target on CareTrust REIT from $47.00 to $45.00 and set an “outperform” rating on the stock in a report on Monday, October 5th. Cantor Fitzgerald lifted their price objective on CareTrust REIT from $42.00 to $43.00 and gave the stock a “neutral” rating in a research note on Monday, August 10th. Raymond James Financial dropped their target price on shares of CareTrust REIT from $45.00 to $42.00 and set an “outperform” rating on the stock in a research report on Monday. Finally, KeyCorp reiterated an “overweight” rating on shares of CareTrust REIT in a research note on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $44.25.
Get Our Latest Research Report on CareTrust REIT
About CareTrust REIT
CareTrust REIT, Inc is a real estate investment trust that owns, acquires, develops, and leases healthcare-related properties. Its portfolio is primarily focused on skilled nursing facilities, assisted living communities, and other post-acute care properties operated by third-party healthcare providers.
The company generally leases its properties under long-term agreements, including triple-net leases, under which tenants are typically responsible for property-level expenses such as taxes, insurance, and maintenance.
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