OVERSEA CHINESE BANKING Corp Ltd purchased a new position in shares of CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 218,028 shares of the real estate investment trust's stock, valued at approximately $4,879,000. OVERSEA CHINESE BANKING Corp Ltd owned 0.18% of CareTrust REIT as of its most recent SEC filing.
Other hedge funds and other institutional investors have also modified their holdings of the company. Norges Bank acquired a new stake in shares of CareTrust REIT in the fourth quarter valued at $24,217,000. Morgan Stanley raised its stake in shares of CareTrust REIT by 89.7% in the third quarter. Morgan Stanley now owns 2,197,841 shares of the real estate investment trust's stock valued at $45,056,000 after acquiring an additional 1,039,019 shares in the last quarter. Millennium Management LLC raised its stake in shares of CareTrust REIT by 405.3% in the fourth quarter. Millennium Management LLC now owns 1,140,243 shares of the real estate investment trust's stock valued at $21,186,000 after acquiring an additional 914,588 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of CareTrust REIT by 123.0% in the first quarter. JPMorgan Chase & Co. now owns 1,610,401 shares of the real estate investment trust's stock valued at $31,531,000 after acquiring an additional 888,167 shares in the last quarter. Finally, Balyasny Asset Management L.P. raised its stake in shares of CareTrust REIT by 1,029.4% in the first quarter. Balyasny Asset Management L.P. now owns 939,926 shares of the real estate investment trust's stock valued at $18,404,000 after acquiring an additional 856,702 shares in the last quarter. 87.77% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several brokerages have recently issued reports on CTRE. Deutsche Bank Aktiengesellschaft began coverage on CareTrust REIT in a research note on Tuesday, January 30th. They issued a "hold" rating and a $23.00 price objective on the stock. Royal Bank of Canada cut their price target on CareTrust REIT from $25.00 to $24.00 and set an "outperform" rating on the stock in a research note on Wednesday, January 31st. Finally, KeyCorp raised their price target on CareTrust REIT from $22.00 to $25.00 and gave the company an "overweight" rating in a research note on Friday, January 5th. 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 MarketBeat, CareTrust REIT has an average rating of "Moderate Buy" and a consensus target price of $23.57.
Check Out Our Latest Stock Analysis on CTRE
CareTrust REIT Stock Performance
Shares of CTRE stock traded down $0.05 during mid-day trading on Friday, hitting $23.69. 784,108 shares of the stock were exchanged, compared to its average volume of 955,244. The stock's fifty day simple moving average is $23.56 and its two-hundred day simple moving average is $22.58. The stock has a market capitalization of $3.20 billion, a price-to-earnings ratio of 48.35 and a beta of 1.05. CareTrust REIT, Inc. has a 12-month low of $18.18 and a 12-month high of $24.62. The company has a debt-to-equity ratio of 0.42, a quick ratio of 8.67 and a current ratio of 8.67.
CareTrust REIT Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were issued a dividend of $0.29 per share. This is a positive change from CareTrust REIT's previous quarterly dividend of $0.28. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $1.16 annualized dividend and a dividend yield of 4.90%. CareTrust REIT's dividend payout ratio (DPR) is presently 236.73%.
About CareTrust REIT
(
Free Report)
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.
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