Handelsbanken Fonder AB Raises Stock Holdings in CareTrust REIT, Inc. (NASDAQ:CTRE)

Handelsbanken Fonder AB lifted its holdings in shares of CareTrust REIT, Inc. (NASDAQ:CTRE) by 10.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 17,346 shares of the real estate investment trust’s stock after acquiring an additional 1,600 shares during the quarter. Handelsbanken Fonder AB’s holdings in CareTrust REIT were worth $388,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of CTRE. Graham Capital Management L.P. bought a new position in CareTrust REIT during the third quarter valued at $943,000. Wellington Management Group LLP grew its holdings 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 valued at $147,834,000 after purchasing an additional 542,832 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in CareTrust REIT by 17.4% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 19,137 shares of the real estate investment trust’s stock valued at $428,000 after purchasing an additional 2,842 shares during the period. OVERSEA CHINESE BANKING Corp Ltd bought a new position in CareTrust REIT during the fourth quarter valued at $4,879,000. Finally, Econ Financial Services Corp bought a new position in CareTrust REIT during the third quarter valued at $544,000. 87.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CTRE has been the subject of several research reports. Royal Bank of Canada reduced their price objective on 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 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. Finally, KeyCorp raised their price target on CareTrust REIT from $22.00 to $25.00 and gave the stock an “overweight” rating in a report on Friday, January 5th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, CareTrust REIT presently has a consensus rating of “Moderate Buy” and an average target price of $23.57.

CareTrust REIT Price Performance

NASDAQ:CTRE opened at $24.90 on Thursday. The firm has a market capitalization of $3.36 billion, a price-to-earnings ratio of 50.82 and a beta of 1.05. CareTrust REIT, Inc. has a 52-week low of $18.18 and a 52-week high of $25.25. The stock has a fifty day moving average of $23.79 and a 200 day moving average of $22.74. 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 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 of this dividend was Wednesday, March 27th. This represents a $1.16 annualized dividend and a yield of 4.66%. CareTrust REIT’s dividend payout ratio (DPR) is currently 236.73%.

CareTrust REIT Company 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.