CareTrust REIT, Inc. $CTRE Shares Acquired by The Manufacturers Life Insurance Company

Key Points

• The Manufacturers Life Insurance Company increased its CareTrust REIT stake by 79.6% in the first quarter, adding 112,484 shares to own 253,730 shares valued at approximately $9.3 million. Institutional investors collectively hold 87.77% of CTRE’s stock.
• CareTrust REIT shares opened at $41.25, down 1.7%, with a market capitalization of $9.74 billion and a 12-month trading range of $31.92 to $43.62.
• The company maintains a quarterly dividend of $0.39 per share, representing an annualized dividend of $1.56 and a 3.8% yield. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $44.82.

The Manufacturers Life Insurance Company grew its stake in CareTrust REIT, Inc. (NYSE:CTRE - Free Report) by 79.6% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 253,730 shares of the company's stock after purchasing an additional 112,484 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.11% of CareTrust REIT worth $9,299,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in CTRE. Kemnay Advisory Services Inc. acquired a new position in CareTrust REIT during the fourth quarter worth $27,000. Transamerica Financial Advisors LLC increased its stake in shares of CareTrust REIT by 520.0% in the 4th quarter. Transamerica Financial Advisors LLC now owns 868 shares of the company's stock worth $32,000 after acquiring an additional 728 shares during the last quarter. Mcguire Capital Advisors Inc. purchased a new position in shares of CareTrust REIT during the 4th quarter worth $40,000. EverSource Wealth Advisors LLC boosted its position in shares of CareTrust REIT by 134.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,124 shares of the company's stock valued at $34,000 after acquiring an additional 644 shares during the last quarter. Finally, Eurizon Capital SGR S.p.A. acquired a new position in shares of CareTrust REIT during the 4th quarter valued at about $44,000. Institutional investors and hedge funds own 87.77% of the company's stock.

CareTrust REIT Stock Down 1.7%

Shares of NYSE:CTRE opened at $41.25 on Tuesday. The company has a market capitalization of $9.74 billion, a price-to-earnings ratio of 26.44, a PEG ratio of 1.89 and a beta of 0.75. CareTrust REIT, Inc. has a 12-month low of $31.92 and a 12-month high of $43.62. The business has a 50-day moving average price of $40.14 and a 200 day moving average price of $39.44. 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 Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were given a dividend of $0.39 per share. The ex-dividend date was Tuesday, June 30th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 3.8%. CareTrust REIT's dividend payout ratio (DPR) is currently 100.00%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on CTRE. Zacks Research upgraded shares of CareTrust REIT from a "strong sell" rating to a "hold" rating in a research report on Monday, May 25th. Citigroup reissued a "market outperform" rating on shares of CareTrust REIT in a research note on Wednesday, June 10th. BMO Capital Markets raised their price target on shares of CareTrust REIT from $46.00 to $47.00 and gave the stock an "outperform" rating in a report on Monday, June 15th. Weiss Ratings downgraded shares of CareTrust REIT from a "buy (a-)" rating to a "buy (b+)" rating in a report on Tuesday, July 21st. Finally, Mizuho set a $45.00 price target on shares of CareTrust REIT in a research report on Friday, May 22nd. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $44.82.

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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