CareTrust REIT, Inc. $CTRE Shares Bought by Principal Financial Group Inc.

Principal Financial Group Inc. increased its holdings in CareTrust REIT, Inc. (NASDAQ:CTRE) by 30.0% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 1,235,559 shares of the real estate investment trust’s stock after buying an additional 285,209 shares during the period. Principal Financial Group Inc. owned about 0.57% of CareTrust REIT worth $42,849,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. AlphaQuest LLC raised its stake in CareTrust REIT by 99.3% during the third quarter. AlphaQuest LLC now owns 26,273 shares of the real estate investment trust’s stock worth $911,000 after acquiring an additional 13,090 shares during the period. Arizona State Retirement System raised its position in shares of CareTrust REIT by 19.0% during the 3rd quarter. Arizona State Retirement System now owns 65,189 shares of the real estate investment trust’s stock worth $2,261,000 after purchasing an additional 10,422 shares during the period. Knights of Columbus Asset Advisors LLC raised its position in shares of CareTrust REIT by 3.3% during the 3rd quarter. Knights of Columbus Asset Advisors LLC now owns 57,391 shares of the real estate investment trust’s stock worth $1,990,000 after purchasing an additional 1,838 shares during the period. Foundations Investment Advisors LLC lifted its holdings in shares of CareTrust REIT by 8.3% in the 3rd quarter. Foundations Investment Advisors LLC now owns 16,414 shares of the real estate investment trust’s stock worth $569,000 after purchasing an additional 1,256 shares during the last quarter. Finally, Archer Investment Corp boosted its position in CareTrust REIT by 6.8% during the 3rd quarter. Archer Investment Corp now owns 6,089 shares of the real estate investment trust’s stock valued at $211,000 after purchasing an additional 389 shares during the period. Institutional investors own 87.77% of the company’s stock.

CareTrust REIT Price Performance

Shares of NASDAQ CTRE opened at $36.50 on Thursday. The stock has a market cap of $8.15 billion, a P/E ratio of 46.20, a P/E/G ratio of 1.25 and a beta of 0.75. The firm’s 50-day simple moving average is $36.92 and its 200 day simple moving average is $35.18. CareTrust REIT, Inc. has a fifty-two week low of $24.79 and a fifty-two week high of $38.32. The company has a quick ratio of 3.82, a current ratio of 3.82 and a debt-to-equity ratio of 0.14.

CareTrust REIT Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 15th. Investors of record on Wednesday, December 31st were paid a dividend of $0.335 per share. This represents a $1.34 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date was Wednesday, December 31st. CareTrust REIT’s dividend payout ratio (DPR) is currently 100.00%.

Analyst Ratings Changes

Several brokerages have weighed in on CTRE. Jefferies Financial Group increased their target price on CareTrust REIT from $41.00 to $43.00 and gave the stock a “buy” rating in a research report on Monday, December 15th. Wells Fargo & Company upped their price target on shares of CareTrust REIT from $38.00 to $41.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 25th. KeyCorp lifted their price objective on shares of CareTrust REIT from $36.00 to $40.00 and gave the company an “overweight” rating in a research report on Thursday, December 4th. Royal Bank Of Canada upped their target price on shares of CareTrust REIT from $36.00 to $41.00 and gave the stock an “outperform” rating in a research report on Monday, November 10th. Finally, Citigroup initiated coverage on shares of CareTrust REIT in a research note on Thursday, January 22nd. They issued a “market outperform” rating on the stock. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $39.00.

About CareTrust REIT

CareTrust REIT, Inc is a healthcare-focused real estate investment trust that acquires and manages net-leased properties serving the senior housing and medical markets. The company’s portfolio spans skilled nursing facilities, assisted living communities, independent living properties, medical office buildings and life science facilities. By structuring leases on a triple-net basis, CareTrust REIT offers long-term, stable rental income streams while allowing its tenants to operate and maintain their specialized healthcare facilities.

The company’s assets are geographically diversified across the United States, with a concentration in regions experiencing aging demographics and growing demand for senior care services.