Strs Ohio Sells 245,600 Shares of CareTrust REIT, Inc. (NASDAQ:CTRE)

Strs Ohio decreased its holdings in shares of CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) by 61.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 154,960 shares of the real estate investment trust's stock after selling 245,600 shares during the quarter. Strs Ohio owned approximately 0.13% of CareTrust REIT worth $3,468,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the business. Graham Capital Management L.P. acquired a new position in shares of CareTrust REIT during the 3rd quarter worth approximately $943,000. Wellington Management Group LLP raised its position in CareTrust REIT by 8.1% during the third quarter. Wellington Management Group LLP now owns 7,211,404 shares of the real estate investment trust's stock worth $147,834,000 after acquiring an additional 542,832 shares in the last quarter. Econ Financial Services Corp bought a new stake in CareTrust REIT during the third quarter worth $544,000. Deutsche Bank AG lifted its stake in CareTrust REIT by 26.3% in the third quarter. Deutsche Bank AG now owns 167,060 shares of the real estate investment trust's stock valued at $3,425,000 after acquiring an additional 34,768 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. grew its position in shares of CareTrust REIT by 466.7% in the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 425,000 shares of the real estate investment trust's stock valued at $8,712,000 after acquiring an additional 350,000 shares during the period. Institutional investors own 87.77% of the company's stock.

CareTrust REIT Stock Performance

NASDAQ CTRE traded down $0.05 on Friday, reaching $23.69. The stock had a trading volume of 783,682 shares, compared to its average volume of 1,389,500. CareTrust REIT, Inc. has a 1-year low of $18.18 and a 1-year high of $24.62. The company has a debt-to-equity ratio of 0.42, a current ratio of 8.67 and a quick ratio of 8.67. The company has a market cap of $3.20 billion, a P/E ratio of 48.35 and a beta of 1.05. The firm has a fifty day moving average of $23.56 and a two-hundred day moving average of $22.55.

CareTrust REIT Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were paid a $0.29 dividend. The ex-dividend date was Wednesday, March 27th. This is an increase from CareTrust REIT's previous quarterly dividend of $0.28. This represents a $1.16 annualized dividend and a dividend yield of 4.90%. CareTrust REIT's dividend payout ratio is 236.73%.

Analyst Upgrades and Downgrades

CTRE has been the subject of several recent analyst reports. KeyCorp raised their target price on shares of CareTrust REIT from $22.00 to $25.00 and gave the company an "overweight" rating in a research note on Friday, January 5th. Deutsche Bank Aktiengesellschaft started coverage on CareTrust REIT in a report on Tuesday, January 30th. They set a "hold" rating and a $23.00 target price on the stock. Finally, Royal Bank of Canada cut their price target on CareTrust REIT from $25.00 to $24.00 and set an "outperform" rating for the company in a report on Wednesday, January 31st. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat, CareTrust REIT presently has a consensus rating of "Moderate Buy" and a consensus price target of $23.57.

About CareTrust REIT

CareTrust REIT, Inc is a self-administered, publicly-traded real estate investment trust engaged in the ownership, acquisition, development and leasing of skilled nursing, seniors housing and other healthcare-related properties. With a nationwide portfolio of long-term net-leased properties, and a growing portfolio of quality operators leasing them, CareTrust REIT is pursuing both external and organic growth opportunities across the United States.