Bellars Harris Wealth Management LLC Invests $9.33 Million in CareTrust REIT, Inc. $CTRE

Key Points

• Bellars Harris Wealth Management purchased 231,313 CareTrust REIT shares worth approximately $9.33 million, making CTRE its 16th-largest holding and representing 1.9% of its portfolio.
• Institutional investors own 87.77% of CTRE, while the stock recently traded at $38.81. CareTrust REIT maintains a quarterly dividend of $0.39, equivalent to a 4.0% annualized yield.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $44.82; recent targets range from $43 to $46, despite an RBC downgrade to “sector perform.”

Bellars Harris Wealth Management LLC bought a new stake in CareTrust REIT, Inc. (NYSE:CTRE - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 231,313 shares of the company's stock, valued at approximately $9,333,000. CareTrust REIT makes up 1.9% of Bellars Harris Wealth Management LLC's holdings, making the stock its 16th largest position. Bellars Harris Wealth Management LLC owned 0.10% of CareTrust REIT at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the stock. Kemnay Advisory Services Inc. purchased a new stake in CareTrust REIT in the fourth quarter valued at $27,000. Transamerica Financial Advisors LLC grew its holdings in shares of CareTrust REIT by 520.0% during the fourth quarter. Transamerica Financial Advisors LLC now owns 868 shares of the company's stock worth $32,000 after purchasing an additional 728 shares during the last quarter. EverSource Wealth Advisors LLC increased its position 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 in the last quarter. Mcguire Capital Advisors Inc. purchased a new stake in shares of CareTrust REIT in the 4th quarter valued at about $40,000. Finally, Eurizon Capital SGR S.p.A. purchased a new stake in shares of CareTrust REIT in the 4th quarter valued at about $44,000. 87.77% of the stock is owned by hedge funds and other institutional investors.

CareTrust REIT Stock Down 0.0%

Shares of NYSE:CTRE opened at $38.81 on Friday. The company has a market cap of $9.17 billion, a price-to-earnings ratio of 24.41, a PEG ratio of 1.75 and a beta of 0.75. The firm's 50-day simple moving average is $40.20 and its 200-day simple moving average is $39.60. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 0.27. CareTrust REIT, Inc. has a fifty-two week low of $32.79 and a fifty-two week high of $43.62.

CareTrust REIT Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were issued a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date of this dividend was Tuesday, June 30th. CareTrust REIT's payout ratio is currently 98.11%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on CTRE shares. Royal Bank Of Canada downgraded CareTrust REIT from an "outperform" rating to a "sector perform" rating and dropped their price target for the stock from $44.00 to $43.00 in a research note on Friday. 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. Zacks Research raised shares of CareTrust REIT from a "strong sell" rating to a "hold" rating in a report on Monday, May 25th. Cantor Fitzgerald upped their price target on shares of CareTrust REIT from $42.00 to $43.00 and gave the company a "neutral" rating in a research report on Monday, August 10th. Finally, Raymond James Financial began coverage on shares of CareTrust REIT in a research note on Tuesday, June 16th. They set an "outperform" rating and a $43.00 price target for the company. Two analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $44.82.

CareTrust REIT 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.

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