Public Employees Retirement System of Ohio Sells 50,103 Shares of CareTrust REIT, Inc. $CTRE

Key Points

• Public Employees Retirement System of Ohio reduced its CareTrust REIT stake by 16%, selling 50,103 shares and retaining 262,449 shares worth approximately $9.6 million. Institutional investors collectively own 87.77% of CTRE.
• Analysts remain broadly positive, with CTRE carrying a consensus “Moderate Buy” rating and an average price target of $44.82. Recent targets range from $45 to $47.
• CareTrust REIT shares opened at $42.93, near their 52-week high of $43.60. The company pays a quarterly dividend of $0.39, or $1.56 annualized, yielding about 3.6%.

Public Employees Retirement System of Ohio lessened its stake in shares of CareTrust REIT, Inc. (NYSE:CTRE - Free Report) by 16.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 262,449 shares of the company's stock after selling 50,103 shares during the quarter. Public Employees Retirement System of Ohio owned 0.11% of CareTrust REIT worth $9,619,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. Royal Bank of Canada lifted its holdings in shares of 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 acquiring an additional 47,936 shares during the period. NewEdge Advisors LLC grew its holdings in shares of 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 purchasing an additional 3,408 shares during the last quarter. EverSource Wealth Advisors LLC increased 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 worth $34,000 after purchasing an additional 644 shares in the last quarter. First Trust Advisors LP increased its position in shares of CareTrust REIT by 67.6% during the 2nd quarter. First Trust Advisors LP now owns 245,154 shares of the company's stock worth $7,502,000 after purchasing an additional 98,850 shares in the last quarter. Finally, Cerity Partners LLC lifted its holdings in CareTrust REIT by 310.1% during the 2nd quarter. Cerity Partners LLC now owns 36,640 shares of the company's stock valued at $1,121,000 after purchasing an additional 27,706 shares during the last quarter. Institutional investors and hedge funds own 87.77% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on CTRE shares. Weiss Ratings cut shares of CareTrust REIT from a "buy (a-)" rating to a "buy (b+)" rating in a research note on Tuesday, July 21st. KeyCorp reiterated an "overweight" rating and issued a $46.00 target price on shares of CareTrust REIT in a research note on Friday, May 29th. Wells Fargo & Company increased their price target on CareTrust REIT from $42.00 to $47.00 and gave the stock an "overweight" rating in a research report on Monday, June 1st. BMO Capital Markets lifted their price objective on CareTrust REIT from $46.00 to $47.00 and gave the company an "outperform" rating in a research report on Monday, June 15th. Finally, Mizuho set a $45.00 target price on CareTrust REIT in a report on Friday, May 22nd. One investment 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's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $44.82.

CareTrust REIT Price Performance

CTRE opened at $42.93 on Tuesday. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.38 and a quick ratio of 2.37. The stock has a market capitalization of $10.14 billion, a P/E ratio of 27.52, a price-to-earnings-growth ratio of 1.95 and a beta of 0.76. The company's 50 day simple moving average is $40.06 and its 200-day simple moving average is $39.27. CareTrust REIT, Inc. has a one year low of $30.51 and a one year high of $43.60.

CareTrust REIT Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were given a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date was Tuesday, June 30th. CareTrust REIT's dividend payout ratio (DPR) is presently 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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