CareTrust REIT, Inc. $CTRE Stake Lifted by Renaissance Group LLC

Renaissance Group LLC increased its position in shares of CareTrust REIT, Inc. (NASDAQ:CTRE) by 2,802.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 243,414 shares of the real estate investment trust’s stock after purchasing an additional 235,028 shares during the period. Renaissance Group LLC owned 0.11% of CareTrust REIT worth $8,442,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CTRE. Royal Bank of Canada raised its stake in shares of CareTrust REIT by 36.4% in the 1st quarter. Royal Bank of Canada now owns 179,501 shares of the real estate investment trust’s stock worth $5,129,000 after buying an additional 47,936 shares in the last quarter. NewEdge Advisors LLC raised its position in CareTrust REIT by 11.3% in the first quarter. NewEdge Advisors LLC now owns 33,628 shares of the real estate investment trust’s stock worth $961,000 after acquiring an additional 3,408 shares in the last quarter. KLP Kapitalforvaltning AS lifted its holdings in CareTrust REIT by 10.5% in the 2nd quarter. KLP Kapitalforvaltning AS now owns 40,000 shares of the real estate investment trust’s stock valued at $1,235,000 after acquiring an additional 3,800 shares during the last quarter. Louisiana State Employees Retirement System boosted its position in shares of CareTrust REIT by 1.4% during the 2nd quarter. Louisiana State Employees Retirement System now owns 89,600 shares of the real estate investment trust’s stock valued at $2,742,000 after purchasing an additional 1,200 shares in the last quarter. Finally, Maryland State Retirement & Pension System grew its stake in shares of CareTrust REIT by 2.8% in the 2nd quarter. Maryland State Retirement & Pension System now owns 56,334 shares of the real estate investment trust’s stock worth $1,724,000 after purchasing an additional 1,533 shares during the last quarter. 87.77% of the stock is owned by institutional investors.

CareTrust REIT Stock Performance

Shares of CareTrust REIT stock opened at $38.86 on Friday. CareTrust REIT, Inc. has a 12 month low of $24.79 and a 12 month high of $39.27. The company has a quick ratio of 3.82, a current ratio of 3.82 and a debt-to-equity ratio of 0.14. The stock has a market cap of $8.68 billion, a PE ratio of 49.19, a price-to-earnings-growth ratio of 1.25 and a beta of 0.75. The business has a fifty day simple moving average of $36.97 and a 200-day simple moving average of $35.26.

CareTrust REIT Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 15th. Investors of record on Wednesday, December 31st were given a dividend of $0.335 per share. The ex-dividend date of this dividend was Wednesday, December 31st. This represents a $1.34 dividend on an annualized basis and a yield of 3.4%. CareTrust REIT’s payout ratio is presently 100.00%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. KeyCorp increased their target price on shares of CareTrust REIT from $36.00 to $40.00 and gave the company an “overweight” rating in a research note on Thursday, December 4th. Jefferies Financial Group increased their price objective on CareTrust REIT from $41.00 to $43.00 and gave the company a “buy” rating in a research report on Monday, December 15th. Royal Bank Of Canada lifted their target price on CareTrust REIT from $36.00 to $41.00 and gave the stock an “outperform” rating in a report on Monday, November 10th. The Goldman Sachs Group set a $44.00 target price on CareTrust REIT in a report on Thursday, January 22nd. Finally, Citizens Jmp started coverage on CareTrust REIT in a research report on Thursday, January 22nd. They issued a “market outperform” rating and a $44.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company 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.