CareTrust REIT, Inc. $CTRE Shares Acquired by Bessemer Group Inc.

Key Points

• Bessemer Group Inc. dramatically increased its stake in CareTrust REIT, boosting holdings by 4,131.1% in the first quarter to 522,120 shares worth about $19.1 million.
• Institutional ownership remains very high, with hedge funds and other institutions holding about 87.77% of the company’s stock, and several firms recently adding to their positions.
• CareTrust REIT continues to show solid fundamentals and income appeal, with shares trading near their 52-week high at $42.88 and offering a quarterly dividend of $0.39, or a 3.6% annualized yield.

Bessemer Group Inc. increased its position in CareTrust REIT, Inc. (NYSE:CTRE - Free Report) by 4,131.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 522,120 shares of the company's stock after buying an additional 509,780 shares during the quarter. Bessemer Group Inc. owned about 0.23% of CareTrust REIT worth $19,134,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. increased its position in CareTrust REIT by 7.5% during the 4th quarter. Principal Financial Group Inc. now owns 1,328,660 shares of the company's stock worth $48,044,000 after purchasing an additional 93,101 shares in the last quarter. Sound Income Strategies LLC grew its stake in CareTrust REIT by 6.4% during the fourth quarter. Sound Income Strategies LLC now owns 621,732 shares of the company's stock worth $23,477,000 after buying an additional 37,503 shares during the period. B&I Capital AG acquired a new stake in shares of CareTrust REIT in the fourth quarter worth $10,989,000. M&T Bank Corp acquired a new stake in shares of CareTrust REIT in the fourth quarter worth $894,000. Finally, Vanderbilt University purchased a new position in shares of CareTrust REIT in the 4th quarter valued at $1,125,000. Institutional investors and hedge funds own 87.77% of the company's stock.

CareTrust REIT Price Performance

Shares of CTRE stock opened at $42.88 on Friday. The company has a market capitalization of $10.13 billion, a PE ratio of 27.49, a price-to-earnings-growth ratio of 1.93 and a beta of 0.76. The firm has a fifty day simple moving average of $39.92 and a 200-day simple moving average of $38.99. 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, Inc. has a twelve month low of $30.21 and a twelve month high of $43.10.

CareTrust REIT Dividend Announcement

The company 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. The ex-dividend date was Tuesday, June 30th. This represents a $1.56 dividend on an annualized basis and a yield of 3.6%. CareTrust REIT's payout ratio is currently 100.00%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on CTRE. Raymond James Financial started coverage on shares of CareTrust REIT in a report on Tuesday, June 16th. They set an "outperform" rating and a $43.00 target price on the stock. Zacks Research upgraded CareTrust REIT from a "strong sell" rating to a "hold" rating in a report on Monday, May 25th. BMO Capital Markets raised their price objective on CareTrust REIT from $46.00 to $47.00 and gave the company an "outperform" rating in a research report on Monday, June 15th. Wells Fargo & Company boosted their price objective on CareTrust REIT from $42.00 to $47.00 and gave the stock an "overweight" rating in a research note on Monday, June 1st. Finally, Mizuho set a $45.00 target price on CareTrust REIT in a research report on Friday, May 22nd. Two analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of $44.82.

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.

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