Bailard Inc. Lowers Holdings in CareTrust REIT, Inc. (NASDAQ:CTRE)

Bailard Inc. lowered its stake in shares of CareTrust REIT, Inc. (NASDAQ:CTRE) by 41.1% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 10,838 shares of the real estate investment trust’s stock after selling 7,562 shares during the period. Bailard Inc.’s holdings in CareTrust REIT were worth $243,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of CTRE. Mackenzie Financial Corp grew its holdings in CareTrust REIT by 3.1% during the fourth quarter. Mackenzie Financial Corp now owns 16,317 shares of the real estate investment trust’s stock worth $365,000 after acquiring an additional 484 shares during the period. Van ECK Associates Corp increased its holdings in shares of CareTrust REIT by 4.3% during the 3rd quarter. Van ECK Associates Corp now owns 11,730 shares of the real estate investment trust’s stock valued at $240,000 after purchasing an additional 486 shares in the last quarter. Exchange Traded Concepts LLC increased its holdings in shares of CareTrust REIT by 0.8% during the 4th quarter. Exchange Traded Concepts LLC now owns 65,569 shares of the real estate investment trust’s stock valued at $1,467,000 after purchasing an additional 516 shares in the last quarter. Daiwa Securities Group Inc. lifted its stake in shares of CareTrust REIT by 2.2% in the 3rd quarter. Daiwa Securities Group Inc. now owns 31,537 shares of the real estate investment trust’s stock valued at $647,000 after purchasing an additional 668 shares during the period. Finally, Global Retirement Partners LLC boosted its holdings in CareTrust REIT by 113.9% during the fourth quarter. Global Retirement Partners LLC now owns 1,388 shares of the real estate investment trust’s stock worth $31,000 after buying an additional 739 shares in the last quarter. Hedge funds and other institutional investors own 87.77% of the company’s stock.

CareTrust REIT Stock Up 1.5 %

CTRE opened at $24.67 on Tuesday. The company has a market cap of $3.33 billion, a PE ratio of 50.35 and a beta of 1.05. CareTrust REIT, Inc. has a twelve month low of $18.18 and a twelve month high of $24.71. The company has a 50-day moving average price of $23.72 and a 200 day moving average price of $22.70. The company has a quick ratio of 8.67, a current ratio of 8.67 and a debt-to-equity ratio of 0.42.

CareTrust REIT Increases Dividend

The company also recently announced 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. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 4.70%. This is a boost from CareTrust REIT’s previous quarterly dividend of $0.28. CareTrust REIT’s dividend payout ratio is presently 236.73%.

Analyst Upgrades and Downgrades

Several research firms recently commented on CTRE. Royal Bank of Canada dropped their price target on shares of CareTrust REIT from $25.00 to $24.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 31st. KeyCorp raised their target price on CareTrust REIT from $22.00 to $25.00 and gave the company an “overweight” rating in a research report on Friday, January 5th. Finally, Deutsche Bank Aktiengesellschaft began coverage on CareTrust REIT in a report on Tuesday, January 30th. They issued a “hold” rating and a $23.00 price target for the company. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price 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.