Vestcor Inc Reduces Stock Position in CareTrust REIT, Inc. $CTRE

Vestcor Inc reduced its position in shares of CareTrust REIT, Inc. (NYSE:CTRE) by 30.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 179,451 shares of the company’s stock after selling 77,255 shares during the period. Vestcor Inc owned 0.08% of CareTrust REIT worth $6,489,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of CTRE. EverSource Wealth Advisors LLC boosted its holdings in shares of CareTrust REIT by 134.2% during the second quarter. EverSource Wealth Advisors LLC now owns 1,124 shares of the company’s stock worth $34,000 after purchasing an additional 644 shares during the period. Heritage Wealth Advisors boosted its holdings in shares of CareTrust REIT by 42.9% during the third quarter. Heritage Wealth Advisors now owns 1,000 shares of the company’s stock worth $35,000 after purchasing an additional 300 shares during the period. Allworth Financial LP boosted its holdings in shares of CareTrust REIT by 114.0% during the third quarter. Allworth Financial LP now owns 1,042 shares of the company’s stock worth $36,000 after purchasing an additional 555 shares during the period. Groesbeck Investment Management Corp NJ purchased a new stake in shares of CareTrust REIT during the fourth quarter worth about $43,000. Finally, Eurizon Capital SGR S.p.A. purchased a new stake in shares of CareTrust REIT during the fourth quarter worth about $44,000. 87.77% of the stock is currently owned by hedge funds and other institutional investors.

CareTrust REIT Stock Performance

Shares of CTRE opened at $38.01 on Friday. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.38 and a quick ratio of 2.37. CareTrust REIT, Inc. has a one year low of $27.81 and a one year high of $43.08. The company has a 50-day simple moving average of $39.46 and a two-hundred day simple moving average of $38.45. The firm has a market capitalization of $8.98 billion, a PE ratio of 24.36, a price-to-earnings-growth ratio of 1.70 and a beta of 0.76.

CareTrust REIT Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st were issued a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 4.1%. This is a boost from CareTrust REIT’s previous quarterly dividend of $0.34. The ex-dividend date was Tuesday, March 31st. CareTrust REIT’s dividend payout ratio (DPR) is 100.00%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on CTRE. Zacks Research upgraded shares of CareTrust REIT from a “strong sell” rating to a “hold” rating in a report on Monday, May 25th. Wells Fargo & Company increased their target price on shares of CareTrust REIT from $42.00 to $47.00 and gave the stock an “overweight” rating in a report on Monday, June 1st. Weiss Ratings lowered shares of CareTrust REIT from a “buy (a)” rating to a “buy (a-)” rating in a report on Tuesday, May 26th. Royal Bank Of Canada raised their price objective on shares of CareTrust REIT from $41.00 to $44.00 and gave the stock an “outperform” rating in a report on Tuesday, February 24th. Finally, KeyCorp restated an “overweight” rating and issued a $46.00 price objective on shares of CareTrust REIT in a report on Friday, May 29th. Three research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $44.09.

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.