Segall Bryant & Hamill LLC Has $16.34 Million Stock Position in CareTrust REIT, Inc. $CTRE

Key Points

• Segall Bryant & Hamill reduced its CareTrust REIT stake by 16.4% in the first quarter, selling 87,166 shares and retaining 445,732 shares valued at approximately $16.34 million. Institutional investors collectively own 87.77% of CTRE.
• CareTrust REIT shares opened at $42.04, near their 12-month high of $43.62, with a $9.93 billion market capitalization. The company recently paid a quarterly dividend of $0.39 per share, representing a 3.7% annualized yield.
• Analysts remain broadly optimistic, with a consensus “Moderate Buy” rating and an average price target of $44.82; several firms recently set or raised targets between $43 and $47.

Segall Bryant & Hamill LLC lowered its stake in shares of CareTrust REIT, Inc. (NYSE:CTRE - Free Report) by 16.4% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 445,732 shares of the company's stock after selling 87,166 shares during the period. Segall Bryant & Hamill LLC owned 0.19% of CareTrust REIT worth $16,336,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in CTRE. Vanguard Group Inc. increased its holdings in CareTrust REIT by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 33,184,181 shares of the company's stock worth $1,199,940,000 after buying an additional 210,965 shares during the last quarter. State Street Corp lifted its stake in CareTrust REIT by 1.8% in the fourth quarter. State Street Corp now owns 12,426,213 shares of the company's stock valued at $453,411,000 after acquiring an additional 219,641 shares during the last quarter. Wellington Management Group LLP lifted its stake in CareTrust REIT by 18.1% in the fourth quarter. Wellington Management Group LLP now owns 12,355,966 shares of the company's stock valued at $446,792,000 after acquiring an additional 1,893,143 shares during the last quarter. T. Rowe Price Investment Management Inc. lifted its stake in CareTrust REIT by 108.5% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 6,493,898 shares of the company's stock valued at $234,820,000 after acquiring an additional 3,379,732 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in shares of CareTrust REIT by 7.2% in the 4th quarter. Geode Capital Management LLC now owns 6,092,398 shares of the company's stock valued at $220,332,000 after acquiring an additional 409,411 shares during the period. Institutional investors and hedge funds own 87.77% of the company's stock.

CareTrust REIT Price Performance

Shares of CareTrust REIT stock opened at $42.04 on Friday. CareTrust REIT, Inc. has a twelve month low of $31.33 and a twelve month high of $43.62. 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 company has a 50-day simple moving average of $40.14 and a two-hundred day simple moving average of $39.40. The stock has a market capitalization of $9.93 billion, a price-to-earnings ratio of 26.95, a price-to-earnings-growth ratio of 1.89 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. Stockholders of record on Tuesday, June 30th were issued a dividend of $0.39 per share. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $1.56 annualized dividend and a dividend yield of 3.7%. CareTrust REIT's dividend payout ratio (DPR) is currently 100.00%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on CTRE. Wells Fargo & Company boosted their price objective on shares of CareTrust REIT from $42.00 to $47.00 and gave the stock an "overweight" rating in a research note on Monday, June 1st. Mizuho set a $45.00 target price on shares of CareTrust REIT in a research note on Friday, May 22nd. Raymond James Financial assumed coverage on CareTrust REIT in a report on Tuesday, June 16th. They set an "outperform" rating and a $43.00 price target for the company. BMO Capital Markets boosted their price target on CareTrust REIT from $46.00 to $47.00 and gave the stock an "outperform" rating in a research report on Monday, June 15th. Finally, Citigroup restated a "market outperform" rating on shares of CareTrust REIT in a research note on Wednesday, June 10th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $44.82.

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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