CareTrust REIT, Inc. $CTRE Stake Reduced by Victory Capital Management Inc.

Key Points

• Victory Capital Management trimmed its stake in CareTrust REIT by 5.8% in Q3, selling 62,890 shares and ending the quarter with 1,021,192 shares valued at about $35.4 million (≈0.46% of the company).
• Wall Street is generally positive on CTRE with a consensus rating of "Moderate Buy" and an average target of $40.18, as several analysts (Jefferies, RBC, KeyCorp, Wells Fargo, Goldman) recently raised price targets.
• CareTrust trades near $39.89 with a market cap of $8.9B and a P/E around 50.5; it pays a quarterly dividend of $0.335 (annualized $1.34) for about a 3.4% yield

Victory Capital Management Inc. trimmed its holdings in CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) by 5.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,021,192 shares of the real estate investment trust's stock after selling 62,890 shares during the quarter. Victory Capital Management Inc. owned 0.46% of CareTrust REIT worth $35,415,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the business. EverSource Wealth Advisors LLC raised its holdings in shares of CareTrust REIT by 134.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,124 shares of the real estate investment trust's stock worth $34,000 after purchasing an additional 644 shares in the last quarter. Farther Finance Advisors LLC grew its position in CareTrust REIT by 75.1% in the third quarter. Farther Finance Advisors LLC now owns 1,492 shares of the real estate investment trust's stock worth $52,000 after buying an additional 640 shares during the last quarter. Salomon & Ludwin LLC bought a new position in shares of CareTrust REIT in the third quarter valued at $54,000. State of Wyoming acquired a new stake in shares of CareTrust REIT during the 3rd quarter valued at $65,000. Finally, Jones Financial Companies Lllp boosted its stake in shares of CareTrust REIT by 13.4% during the 3rd quarter. Jones Financial Companies Lllp now owns 2,615 shares of the real estate investment trust's stock worth $91,000 after acquiring an additional 309 shares in the last quarter. Institutional investors own 87.77% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Jefferies Financial Group lifted their target price on CareTrust REIT from $41.00 to $43.00 and gave the stock a "buy" rating in a report on Monday, December 15th. KeyCorp increased their price target on CareTrust REIT from $36.00 to $40.00 and gave the company an "overweight" rating in a research report on Thursday, December 4th. Royal Bank Of Canada lifted their price target on CareTrust REIT from $41.00 to $44.00 and gave the stock an "outperform" rating in a research note on Tuesday, February 24th. Wells Fargo & Company upped their price objective on shares of CareTrust REIT from $38.00 to $41.00 and gave the company an "overweight" rating in a research note on Tuesday, November 25th. Finally, The Goldman Sachs Group set a $44.00 target price on shares of CareTrust REIT in a report on Thursday, January 22nd. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $40.18.

CareTrust REIT Stock Up 1.3%

CareTrust REIT stock opened at $39.89 on Monday. CareTrust REIT, Inc. has a twelve month low of $25.50 and a twelve month high of $41.72. The company has a debt-to-equity ratio of 0.14, a quick ratio of 3.82 and a current ratio of 3.82. The firm has a market cap of $8.90 billion, a PE ratio of 50.49, a P/E/G ratio of 1.25 and a beta of 0.74. The firm's 50 day moving average price is $38.24 and its two-hundred day moving average price is $36.37.

CareTrust REIT Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 15th. Investors of record on Wednesday, December 31st were given a dividend of $0.335 per share. This represents a $1.34 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend was Wednesday, December 31st. CareTrust REIT's dividend payout ratio (DPR) is presently 86.45%.

CareTrust REIT Company Profile

CareTrust REIT, Inc is a healthcare-focused real estate investment trust that acquires and manages net-leased properties serving the senior housing and medical markets. The company's portfolio spans skilled nursing facilities, assisted living communities, independent living properties, medical office buildings and life science facilities. By structuring leases on a triple-net basis, CareTrust REIT offers long-term, stable rental income streams while allowing its tenants to operate and maintain their specialized healthcare facilities.

The company’s assets are geographically diversified across the United States, with a concentration in regions experiencing aging demographics and growing demand for senior care services.

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