Copeland Capital Management LLC reduced its stake in shares of CareTrust REIT, Inc. (NYSE:CTRE – Free Report) by 2.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,764,855 shares of the company’s stock after selling 37,988 shares during the quarter. CareTrust REIT makes up approximately 1.4% of Copeland Capital Management LLC’s portfolio, making the stock its 20th largest position. Copeland Capital Management LLC owned about 0.79% of CareTrust REIT worth $64,682,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Kemnay Advisory Services Inc. acquired a new stake in shares of CareTrust REIT during the 4th quarter valued at $27,000. Transamerica Financial Advisors LLC raised its holdings in shares of CareTrust REIT by 520.0% during the fourth quarter. Transamerica Financial Advisors LLC now owns 868 shares of the company’s stock worth $32,000 after acquiring an additional 728 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in CareTrust REIT by 134.2% during the second quarter. EverSource Wealth Advisors LLC now owns 1,124 shares of the company’s stock valued at $34,000 after purchasing an additional 644 shares during the last quarter. Allworth Financial LP boosted its position in CareTrust REIT by 114.0% during the third quarter. Allworth Financial LP now owns 1,042 shares of the company’s stock valued at $36,000 after purchasing an additional 555 shares during the last quarter. Finally, Mcguire Capital Advisors Inc. purchased a new position in CareTrust REIT in the fourth quarter valued at about $40,000. 87.77% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of research firms have recently weighed in on CTRE. BMO Capital Markets raised their price target on CareTrust REIT from $46.00 to $47.00 and gave the stock an “outperform” rating in a research note on Monday, June 15th. Weiss Ratings upgraded CareTrust REIT from a “buy (b+)” rating to a “buy (a-)” rating in a report on Monday, July 6th. Zacks Research raised shares of CareTrust REIT from a “strong sell” rating to a “hold” rating in a research report on Monday, May 25th. Citigroup reiterated a “market outperform” rating on shares of CareTrust REIT in a research note on Wednesday, June 10th. Finally, Raymond James Financial initiated coverage on shares of CareTrust REIT in a research report on Tuesday, June 16th. They issued an “outperform” rating and a $43.00 target price for the company. Two analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $44.82.
CareTrust REIT Stock Performance
CTRE opened at $42.88 on Friday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.37 and a current ratio of 2.38. The company has a market cap of $10.13 billion, a PE ratio of 27.49, a price-to-earnings-growth ratio of 1.89 and a beta of 0.76. The stock has a 50-day moving average of $39.92 and a 200-day moving average of $38.99. CareTrust REIT, Inc. has a 52-week low of $30.21 and a 52-week high of $43.10.
CareTrust REIT Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were paid a $0.39 dividend. The ex-dividend date was Tuesday, June 30th. This represents a $1.56 dividend on an annualized basis and a yield of 3.6%. CareTrust REIT’s dividend payout ratio (DPR) is presently 100.00%.
About CareTrust REIT
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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