Teachers Retirement System of The State of Kentucky boosted its position in shares of CareTrust REIT, Inc. (NYSE:CTRE – Free Report) by 11.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 150,751 shares of the company’s stock after buying an additional 15,950 shares during the period. Teachers Retirement System of The State of Kentucky owned approximately 0.07% of CareTrust REIT worth $5,525,000 as of its most recent SEC filing.
Other institutional investors have also added to or reduced their stakes in the company. Principal Financial Group Inc. raised its stake in CareTrust REIT by 7.5% during the fourth quarter. Principal Financial Group Inc. now owns 1,328,660 shares of the company’s stock valued at $48,044,000 after purchasing an additional 93,101 shares in the last quarter. Sound Income Strategies LLC grew its stake in shares of CareTrust REIT by 6.4% in the 4th quarter. Sound Income Strategies LLC now owns 621,732 shares of the company’s stock worth $23,477,000 after buying an additional 37,503 shares in the last quarter. B&I Capital AG purchased a new position in shares of CareTrust REIT in the 4th quarter worth $10,989,000. Mirabella Financial Services LLP increased its holdings in shares of CareTrust REIT by 119.3% in the 3rd quarter. Mirabella Financial Services LLP now owns 75,297 shares of the company’s stock worth $2,606,000 after buying an additional 40,962 shares during the last quarter. Finally, M&T Bank Corp bought a new stake in shares of CareTrust REIT in the 4th quarter worth about $894,000. Hedge funds and other institutional investors own 87.77% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of research analysts recently commented on CTRE shares. KeyCorp reaffirmed an “overweight” rating and issued a $46.00 price target on shares of CareTrust REIT in a report on Friday, May 29th. Wells Fargo & Company boosted their price objective on CareTrust REIT from $42.00 to $47.00 and gave the stock an “overweight” rating in a research note on Monday, June 1st. Weiss Ratings upgraded CareTrust REIT from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Monday, July 6th. Citigroup reaffirmed a “market outperform” rating on shares of CareTrust REIT in a research note on Wednesday, June 10th. Finally, Zacks Research raised CareTrust REIT from a “strong sell” rating to a “hold” rating in a research report on Monday, May 25th. Two research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, CareTrust REIT currently has an average rating of “Buy” and an average price target of $44.82.
CareTrust REIT Price Performance
CTRE opened at $40.35 on Tuesday. The business has a fifty day moving average of $39.80 and a 200 day moving average of $38.88. CareTrust REIT, Inc. has a 52-week low of $30.21 and a 52-week high of $43.08. The company has a quick ratio of 2.37, a current ratio of 2.38 and a debt-to-equity ratio of 0.22. The stock has a market cap of $9.53 billion, a P/E ratio of 25.86, a PEG ratio of 1.81 and a beta of 0.76.
CareTrust REIT Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be issued a $0.39 dividend. The ex-dividend date is Tuesday, June 30th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 3.9%. CareTrust REIT’s dividend payout ratio is presently 100.00%.
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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