Russell Investments Group Ltd. Purchases 432,984 Shares of CareTrust REIT, Inc. (NASDAQ:CTRE)

Russell Investments Group Ltd. increased its stake in CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) by 335.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 562,193 shares of the real estate investment trust's stock after purchasing an additional 432,984 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.47% of CareTrust REIT worth $12,595,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of CTRE. Wellington Management Group LLP raised its stake in shares of CareTrust REIT by 8.1% in the third quarter. Wellington Management Group LLP now owns 7,211,404 shares of the real estate investment trust's stock valued at $147,834,000 after buying an additional 542,832 shares during the period. Victory Capital Management Inc. lifted its holdings in CareTrust REIT by 1.8% during the third quarter. Victory Capital Management Inc. now owns 1,065,483 shares of the real estate investment trust's stock valued at $21,842,000 after purchasing an additional 19,046 shares during the last quarter. Raymond James & Associates boosted its position in CareTrust REIT by 16.0% during the fourth quarter. Raymond James & Associates now owns 663,887 shares of the real estate investment trust's stock worth $14,858,000 after purchasing an additional 91,670 shares during the period. Invesco Ltd. boosted its position in CareTrust REIT by 4.0% during the third quarter. Invesco Ltd. now owns 632,967 shares of the real estate investment trust's stock worth $12,976,000 after purchasing an additional 24,171 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in shares of CareTrust REIT by 6.1% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 527,438 shares of the real estate investment trust's stock worth $11,804,000 after purchasing an additional 30,280 shares in the last quarter. Hedge funds and other institutional investors own 87.77% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on CTRE. Royal Bank of Canada cut their price objective on shares of CareTrust REIT from $25.00 to $24.00 and set an "outperform" rating for the company in a report on Wednesday, January 31st. Deutsche Bank Aktiengesellschaft assumed coverage on CareTrust REIT in a research report on Tuesday, January 30th. They issued a "hold" rating and a $23.00 price target for the company. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $23.57.

CareTrust REIT Price Performance

NASDAQ:CTRE traded down $0.34 during trading hours on Friday, hitting $24.97. The stock had a trading volume of 1,749,540 shares, compared to its average volume of 882,624. The company has a 50 day simple moving average of $23.87 and a two-hundred day simple moving average of $22.79. The firm has a market capitalization of $3.37 billion, a price-to-earnings ratio of 48.02 and a beta of 1.03. The company has a debt-to-equity ratio of 0.42, a current ratio of 8.67 and a quick ratio of 8.67. CareTrust REIT, Inc. has a one year low of $18.18 and a one year high of $26.43.

CareTrust REIT Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were paid 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 was Wednesday, March 27th. This represents a $1.16 annualized dividend and a yield of 4.65%. CareTrust REIT's dividend payout ratio (DPR) is currently 223.08%.

CareTrust REIT Profile

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.