CareTrust REIT, Inc. $CTRE Position Lessened by Edgestream Partners L.P.

Key Points

• Edgestream Partners reduced its CareTrust REIT stake by 60.3% in the first quarter, selling 59,863 shares and retaining 39,451 shares valued at approximately $1.45 million. Institutional investors collectively own 87.77% of CTRE.
• Analysts remain broadly positive, with CareTrust REIT receiving a “Moderate Buy” consensus rating and an average price target of $44.82. Wells Fargo raised its target to $47, while KeyCorp and Mizuho set targets of $46 and $45, respectively.
• CTRE recently traded at $41.25 and pays a quarterly dividend of $0.39, equivalent to an annualized $1.56 dividend and a 3.8% yield. Its payout ratio is currently 100%.

Edgestream Partners L.P. lowered its stake in shares of CareTrust REIT, Inc. (NYSE:CTRE - Free Report) by 60.3% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 39,451 shares of the company's stock after selling 59,863 shares during the quarter. Edgestream Partners L.P.'s holdings in CareTrust REIT were worth $1,446,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. D.A. Davidson & CO. lifted its stake in CareTrust REIT by 0.7% in the fourth quarter. D.A. Davidson & CO. now owns 40,781 shares of the company's stock valued at $1,475,000 after buying an additional 282 shares during the last quarter. Swiss Life Asset Management Ltd boosted its holdings in shares of CareTrust REIT by 2.9% during the fourth quarter. Swiss Life Asset Management Ltd now owns 10,309 shares of the company's stock valued at $373,000 after acquiring an additional 291 shares during the period. Kestra Private Wealth Services LLC grew its position in shares of CareTrust REIT by 1.1% during the first quarter. Kestra Private Wealth Services LLC now owns 27,684 shares of the company's stock worth $1,015,000 after acquiring an additional 297 shares during the last quarter. Tocqueville Asset Management L.P. grew its position in shares of CareTrust REIT by 2.8% during the third quarter. Tocqueville Asset Management L.P. now owns 10,900 shares of the company's stock worth $378,000 after acquiring an additional 300 shares during the last quarter. Finally, UMB Bank n.a. increased its holdings in shares of 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 acquiring an additional 308 shares during the period. 87.77% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently weighed in on CTRE shares. Zacks Research upgraded shares of CareTrust REIT from a "strong sell" rating to a "hold" rating in a research report on Monday, May 25th. Weiss Ratings cut shares of CareTrust REIT from a "buy (a-)" rating to a "buy (b+)" rating in a research report on Tuesday, July 21st. Wells Fargo & Company raised their price target on shares of CareTrust REIT from $42.00 to $47.00 and gave the company an "overweight" rating in a research note on Monday, June 1st. KeyCorp reaffirmed an "overweight" rating and set a $46.00 price target on shares of CareTrust REIT in a report on Friday, May 29th. Finally, Mizuho set a $45.00 price target on CareTrust REIT in a report on Friday, May 22nd. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, CareTrust REIT presently has an average rating of "Moderate Buy" and an average price target of $44.82.

CareTrust REIT Trading Down 1.7%

NYSE:CTRE opened at $41.25 on Tuesday. The stock has a market cap of $9.74 billion, a price-to-earnings ratio of 26.44, a PEG ratio of 1.89 and a beta of 0.75. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.37 and a current ratio of 2.38. CareTrust REIT, Inc. has a 1 year low of $31.92 and a 1 year high of $43.62. The business has a fifty day moving average of $40.14 and a 200-day moving average of $39.44.

CareTrust REIT Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were issued a $0.39 dividend. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $1.56 annualized dividend and a yield of 3.8%. CareTrust REIT's dividend payout ratio is presently 100.00%.

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.

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