Cohen & Steers Inc. Sells 1,774,852 Shares of CareTrust REIT, Inc. $CTRE

Cohen & Steers Inc. lowered its holdings in CareTrust REIT, Inc. (NYSE:CTRE) by 9.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 16,476,922 shares of the company’s stock after selling 1,774,852 shares during the period. CareTrust REIT makes up about 1.1% of Cohen & Steers Inc.’s holdings, making the stock its 26th biggest position. Cohen & Steers Inc. owned about 0.07% of CareTrust REIT worth $595,881,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. EverSource Wealth Advisors LLC raised its position in shares of CareTrust REIT by 134.2% in 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 period. Heritage Wealth Advisors raised its position in shares of CareTrust REIT by 42.9% in the third quarter. Heritage Wealth Advisors now owns 1,000 shares of the company’s stock valued at $35,000 after purchasing an additional 300 shares during the period. Allworth Financial LP raised its position in shares of CareTrust REIT by 114.0% in 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 period. Groesbeck Investment Management Corp NJ bought a new stake in shares of CareTrust REIT in the fourth quarter valued at approximately $43,000. Finally, Eurizon Capital SGR S.p.A. bought a new stake in shares of CareTrust REIT in the fourth quarter valued at approximately $44,000. Institutional investors own 87.77% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on CTRE. Zacks Research raised shares of CareTrust REIT from a “strong sell” rating to a “hold” rating in a research report on Monday, May 25th. Weiss Ratings lowered shares of CareTrust REIT from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Thursday. KeyCorp reaffirmed an “overweight” rating and set a $46.00 price objective on shares of CareTrust REIT in a research note on Friday, May 29th. UBS Group boosted their price objective on shares of CareTrust REIT from $44.00 to $48.00 and gave the company a “buy” rating in a research note on Wednesday, February 18th. Finally, Citigroup reaffirmed a “market outperform” rating on shares of CareTrust REIT in a research note on Wednesday. Two research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $44.09.

CareTrust REIT Price Performance

Shares of NYSE:CTRE opened at $36.76 on Friday. The company has a 50 day moving average of $39.48 and a 200 day moving average of $38.48. The stock has a market cap of $8.68 billion, a P/E ratio of 23.56, a P/E/G ratio of 1.66 and a beta of 0.76. CareTrust REIT, Inc. has a 12 month low of $27.81 and a 12 month high of $43.08. The company has a current ratio of 2.38, a quick ratio of 2.37 and a debt-to-equity ratio of 0.22.

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.