Commonwealth of Pennsylvania Public School Empls Retrmt SYS Grows Stock Holdings in CareTrust REIT, Inc. $CTRE

Key Points

• Institutional buying increased: Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its CareTrust REIT stake by 22.7% in the first quarter, bringing its holdings to 157,152 shares worth about $5.76 million.
• Dividend outlook remains attractive: CareTrust REIT announced a quarterly dividend of $0.39 per share, equal to an annualized payout of $1.56 and a yield of 3.8%.
• Wall Street is still upbeat: Several analysts raised or reaffirmed bullish ratings, and the consensus price target now stands at $44.82, above the stock’s recent price of $40.52.

Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in CareTrust REIT, Inc. (NYSE:CTRE - Free Report) by 22.7% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 157,152 shares of the company's stock after acquiring an additional 29,095 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS owned 0.07% of CareTrust REIT worth $5,760,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in CTRE. Kemnay Advisory Services Inc. purchased a new stake in shares of CareTrust REIT in the fourth quarter valued at $27,000. Transamerica Financial Advisors LLC lifted its position in 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 buying an additional 728 shares during the period. Allworth Financial LP grew its holdings in CareTrust REIT by 114.0% in the 3rd quarter. Allworth Financial LP now owns 1,042 shares of the company's stock valued at $36,000 after buying an additional 555 shares during the period. Mcguire Capital Advisors Inc. purchased a new stake in CareTrust REIT in the 4th quarter valued at about $40,000. Finally, EverSource Wealth Advisors LLC increased its stake 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. Hedge funds and other institutional investors own 87.77% of the company's stock.

CareTrust REIT Price Performance

CareTrust REIT stock opened at $40.52 on Wednesday. CareTrust REIT, Inc. has a 52-week low of $30.21 and a 52-week high of $43.08. The firm has a fifty day moving average of $39.83 and a 200-day moving average of $38.90. The firm has a market capitalization of $9.57 billion, a P/E ratio of 25.98, a PEG ratio of 1.82 and a beta of 0.76. The company has a quick ratio of 2.37, a current ratio of 2.38 and a debt-to-equity ratio of 0.22.

CareTrust REIT Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be given a $0.39 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $1.56 annualized dividend and a yield of 3.8%. CareTrust REIT's dividend payout ratio (DPR) is 100.00%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on CTRE. BMO Capital Markets increased their price objective 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. KeyCorp reaffirmed an "overweight" rating and set a $46.00 price target on shares of CareTrust REIT in a research report on Friday, May 29th. Mizuho set a $45.00 price target on shares of CareTrust REIT in a research note on Friday, May 22nd. Citigroup reiterated a "market outperform" rating on shares of CareTrust REIT in a report on Wednesday, June 10th. Finally, Wells Fargo & Company boosted their price objective 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. Two research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat.com, CareTrust REIT has an average rating of "Buy" and a consensus price target 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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