First Trust Advisors LP Purchases 223,799 Shares of CareTrust REIT, Inc. $CTRE

Key Points

• First Trust Advisors increased its CareTrust REIT position by 69% in the first quarter, purchasing 223,799 additional shares for a total of 547,997 shares valued at approximately $20.1 million.
• Institutional investors own 87.77% of CTRE, while analysts maintain a consensus “Moderate Buy” rating with an average price target of $44.82.
• CareTrust REIT recently paid a quarterly dividend of $0.39 per share, equivalent to an annualized $1.56 dividend and a 3.7% yield; shares opened at $42.31, near their 12-month high.

First Trust Advisors LP grew its position in shares of CareTrust REIT, Inc. (NYSE:CTRE - Free Report) by 69.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 547,997 shares of the company's stock after purchasing an additional 223,799 shares during the period. First Trust Advisors LP owned approximately 0.23% of CareTrust REIT worth $20,084,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in CTRE. Royal Bank of Canada boosted its stake in CareTrust REIT by 36.4% during the first quarter. Royal Bank of Canada now owns 179,501 shares of the company's stock valued at $5,129,000 after buying an additional 47,936 shares during the period. NewEdge Advisors LLC increased its stake in CareTrust REIT by 11.3% in the 1st quarter. NewEdge Advisors LLC now owns 33,628 shares of the company's stock worth $961,000 after acquiring an additional 3,408 shares during the last quarter. 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 company's stock valued at $34,000 after acquiring an additional 644 shares in the last quarter. Cerity Partners LLC raised its holdings in shares of CareTrust REIT by 310.1% in the 2nd quarter. Cerity Partners LLC now owns 36,640 shares of the company's stock valued at $1,121,000 after acquiring an additional 27,706 shares in the last quarter. Finally, State Street Corp boosted its position in shares of CareTrust REIT by 2.1% during the 2nd quarter. State Street Corp now owns 10,929,194 shares of the company's stock valued at $338,026,000 after acquiring an additional 225,460 shares during the last quarter. Institutional investors own 87.77% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on CTRE shares. BMO Capital Markets boosted their price objective on CareTrust REIT from $46.00 to $47.00 and gave the stock an "outperform" rating in a report on Monday, June 15th. Zacks Research raised shares of CareTrust REIT from a "strong sell" rating to a "hold" rating in a research note on Monday, May 25th. Weiss Ratings lowered shares of CareTrust REIT from a "buy (a-)" rating to a "buy (b+)" rating in a research report on Tuesday, July 21st. Raymond James Financial assumed coverage on shares of CareTrust REIT in a research note on Tuesday, June 16th. They issued an "outperform" rating and a $43.00 price target for the company. Finally, KeyCorp reissued an "overweight" rating and issued a $46.00 price target on shares of CareTrust REIT in a report on Friday, May 29th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $44.82.

CareTrust REIT Trading Down 1.0%

Shares of CTRE stock opened at $42.31 on Thursday. The company has a quick ratio of 2.37, a current ratio of 2.38 and a debt-to-equity ratio of 0.22. The business has a 50-day moving average price of $40.11 and a two-hundred day moving average price of $39.35. CareTrust REIT, Inc. has a 12-month low of $31.18 and a 12-month high of $43.62. The firm has a market cap of $10.00 billion, a P/E ratio of 27.12, a price-to-earnings-growth ratio of 1.92 and a beta of 0.76.

CareTrust REIT Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were issued a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date of this dividend was Tuesday, June 30th. CareTrust REIT's dividend payout ratio (DPR) is currently 100.00%.

CareTrust REIT 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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