Strs Ohio Raises Stake in CareTrust REIT, Inc. $CTRE

Strs Ohio lifted its position in shares of CareTrust REIT, Inc. (NYSE:CTRE) by 125.7% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 89,600 shares of the company’s stock after buying an additional 49,900 shares during the quarter. Strs Ohio’s holdings in CareTrust REIT were worth $3,284,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the business. D.A. Davidson & CO. boosted its stake in shares of CareTrust REIT by 0.7% in the fourth quarter. D.A. Davidson & CO. now owns 40,781 shares of the company’s stock worth $1,475,000 after acquiring an additional 282 shares during the period. Swiss Life Asset Management Ltd raised its stake in CareTrust REIT by 2.9% during the 4th quarter. Swiss Life Asset Management Ltd now owns 10,309 shares of the company’s stock valued at $373,000 after purchasing an additional 291 shares during the period. Kestra Private Wealth Services LLC raised its stake in CareTrust REIT by 1.1% during the 1st quarter. Kestra Private Wealth Services LLC now owns 27,684 shares of the company’s stock valued at $1,015,000 after purchasing an additional 297 shares during the period. Tocqueville Asset Management L.P. lifted its holdings in CareTrust REIT by 2.8% in the 3rd quarter. Tocqueville Asset Management L.P. now owns 10,900 shares of the company’s stock worth $378,000 after purchasing an additional 300 shares in the last quarter. Finally, UMB Bank n.a. lifted its holdings in CareTrust REIT by 25.3% in the 4th quarter. UMB Bank n.a. now owns 1,525 shares of the company’s stock worth $55,000 after purchasing an additional 308 shares in the last quarter. Hedge funds and other institutional investors own 87.77% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on CTRE. KeyCorp restated an “overweight” rating and set a $46.00 target price on shares of CareTrust REIT in a research report on Friday, May 29th. Raymond James Financial assumed coverage on shares of CareTrust REIT in a report on Tuesday, June 16th. They issued an “outperform” rating and a $43.00 price target on the stock. Mizuho set a $45.00 price target on shares of CareTrust REIT in a research note on Friday, May 22nd. Weiss Ratings downgraded shares of CareTrust REIT from a “buy (a-)” rating to a “buy (b+)” rating in a report on Thursday, June 11th. Finally, Citigroup restated a “market outperform” rating on shares of CareTrust REIT in a research report on Wednesday, June 10th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $44.82.

CareTrust REIT Trading Up 1.4%

CTRE traded up $0.60 during trading on Tuesday, reaching $41.99. The company had a trading volume of 101,569 shares, compared to its average volume of 2,656,190. The company has a quick ratio of 2.37, a current ratio of 2.38 and a debt-to-equity ratio of 0.22. The business has a 50 day simple moving average of $39.61 and a 200-day simple moving average of $38.72. The stock has a market cap of $9.92 billion, a P/E ratio of 26.89, a PEG ratio of 1.88 and a beta of 0.76. CareTrust REIT, Inc. has a 52 week low of $30.21 and a 52 week high of $43.08.

CareTrust REIT Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be issued a $0.39 dividend. The ex-dividend date is Tuesday, June 30th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 3.7%. CareTrust REIT’s dividend payout ratio 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.