Inceptionr LLC acquired a new position in shares of CareTrust REIT, Inc. (NYSE:CTRE - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 24,071 shares of the company's stock, valued at approximately $882,000.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Kemnay Advisory Services Inc. bought a new position in shares of CareTrust REIT in the fourth quarter valued at about $27,000. Transamerica Financial Advisors LLC boosted its holdings in shares of CareTrust REIT by 520.0% during the 4th 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. EverSource Wealth Advisors LLC boosted its holdings 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 worth $34,000 after buying an additional 644 shares during the period. Allworth Financial LP boosted its holdings in shares of CareTrust REIT by 114.0% during the 3rd quarter. Allworth Financial LP now owns 1,042 shares of the company's stock worth $36,000 after buying an additional 555 shares during the period. Finally, Mcguire Capital Advisors Inc. acquired a new position in CareTrust REIT in the 4th quarter valued at about $40,000. 87.77% of the stock is owned by institutional investors.
CareTrust REIT Price Performance
NYSE:CTRE opened at $43.27 on Friday. CareTrust REIT, Inc. has a 52 week low of $30.51 and a 52 week high of $43.60. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.37 and a current ratio of 2.38. The firm's 50-day simple moving average is $40.03 and its 200 day simple moving average is $39.21. The firm has a market cap of $10.22 billion, a price-to-earnings ratio of 27.73, a P/E/G ratio of 1.91 and a beta of 0.76.
CareTrust REIT Dividend Announcement
The firm also recently announced 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. This represents a $1.56 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date was Tuesday, June 30th. CareTrust REIT's dividend payout ratio is presently 100.00%.
Wall Street Analyst Weigh In
Several research analysts have weighed in on the stock. Citigroup reissued a "market outperform" rating on shares of CareTrust REIT in a report on Wednesday, June 10th. Weiss Ratings cut CareTrust REIT from a "buy (a-)" rating to a "buy (b+)" rating in a report on Tuesday. Wells Fargo & Company upped their target price on CareTrust REIT from $42.00 to $47.00 and gave the company an "overweight" rating in a research report on Monday, June 1st. Zacks Research upgraded CareTrust REIT from a "strong sell" rating to a "hold" rating in a research note on Monday, May 25th. Finally, Mizuho set a $45.00 target price on CareTrust REIT in a research note on Friday, May 22nd. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $44.82.
Check Out Our Latest Stock Analysis on CareTrust REIT
About CareTrust REIT
(
Free Report)
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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