IndexIQ Advisors LLC Has $564,000 Stake in CareTrust REIT, Inc. (NASDAQ:CTRE)

IndexIQ Advisors LLC trimmed its position in shares of CareTrust REIT, Inc. (NASDAQ:CTREGet Rating) by 5.4% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 29,225 shares of the real estate investment trust’s stock after selling 1,671 shares during the quarter. IndexIQ Advisors LLC’s holdings in CareTrust REIT were worth $564,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of CTRE. New York State Common Retirement Fund raised its position in CareTrust REIT by 48.1% in the 1st quarter. New York State Common Retirement Fund now owns 103,087 shares of the real estate investment trust’s stock valued at $1,990,000 after buying an additional 33,479 shares during the last quarter. Victory Capital Management Inc. raised its position in CareTrust REIT by 5.1% in the 1st quarter. Victory Capital Management Inc. now owns 1,012,204 shares of the real estate investment trust’s stock valued at $19,469,000 after buying an additional 49,415 shares during the last quarter. Envestnet Asset Management Inc. raised its position in CareTrust REIT by 15.2% in the 1st quarter. Envestnet Asset Management Inc. now owns 18,759 shares of the real estate investment trust’s stock valued at $362,000 after buying an additional 2,480 shares during the last quarter. Versor Investments LP purchased a new stake in CareTrust REIT in the 1st quarter valued at $230,000. Finally, HGK Asset Management Inc. raised its position in CareTrust REIT by 53.6% in the 1st quarter. HGK Asset Management Inc. now owns 39,989 shares of the real estate investment trust’s stock valued at $772,000 after buying an additional 13,956 shares during the last quarter. 85.43% of the stock is owned by institutional investors and hedge funds.

CareTrust REIT Stock Up 0.9 %

CTRE stock opened at $21.08 on Friday. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.16 and a current ratio of 1.16. The company has a market capitalization of $2.05 billion, a price-to-earnings ratio of 13.84 and a beta of 1.13. CareTrust REIT, Inc. has a fifty-two week low of $15.90 and a fifty-two week high of $23.97. The stock has a fifty day moving average of $18.97 and a 200-day moving average of $18.57.

CareTrust REIT Announces Dividend

The company also recently declared a dividend, which was paid on Friday, July 15th. Stockholders of record on Thursday, June 30th were paid a dividend of $0.275 per share. The ex-dividend date of this dividend was Wednesday, June 29th. This represents a dividend yield of 6.29%. CareTrust REIT’s payout ratio is 1,571.43%.

Analysts Set New Price Targets

A number of brokerages have issued reports on CTRE. Capital One Financial began coverage on CareTrust REIT in a research note on Friday, June 3rd. They issued an “equal weight” rating and a $21.50 price objective for the company. Barclays downgraded CareTrust REIT from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $22.00 to $17.00 in a research note on Monday, April 18th. Finally, KeyCorp reduced their price objective on CareTrust REIT from $23.00 to $21.00 and set an “overweight” rating for the company in a research note on Thursday, July 7th. Six equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $21.19.

CareTrust REIT Profile

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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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Institutional Ownership by Quarter for CareTrust REIT (NASDAQ:CTRE)

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