CareTrust REIT, Inc. $CTRE Shares Purchased by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. boosted its position in shares of CareTrust REIT, Inc. (NASDAQ:CTRE) by 15.2% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 240,735 shares of the real estate investment trust’s stock after acquiring an additional 31,756 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 0.11% of CareTrust REIT worth $8,349,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Royal Bank of Canada grew its stake in shares of CareTrust REIT by 36.4% during the first quarter. Royal Bank of Canada now owns 179,501 shares of the real estate investment trust’s stock worth $5,129,000 after purchasing an additional 47,936 shares in the last quarter. NewEdge Advisors LLC lifted its holdings in CareTrust REIT by 11.3% during the 1st quarter. NewEdge Advisors LLC now owns 33,628 shares of the real estate investment trust’s stock worth $961,000 after buying an additional 3,408 shares during the last quarter. Parallel Advisors LLC boosted its position in shares of CareTrust REIT by 109.5% during the 2nd quarter. Parallel Advisors LLC now owns 1,100 shares of the real estate investment trust’s stock worth $34,000 after acquiring an additional 575 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in shares of CareTrust REIT by 6.4% in the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 39,764 shares of the real estate investment trust’s stock valued at $1,217,000 after acquiring an additional 2,384 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC acquired a new stake in shares of CareTrust REIT during the 2nd quarter worth about $343,000. 87.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Cantor Fitzgerald began coverage on shares of CareTrust REIT in a report on Wednesday, October 1st. They set a “neutral” rating and a $37.00 price objective on the stock. KeyCorp lifted their price target on shares of CareTrust REIT from $36.00 to $40.00 and gave the stock an “overweight” rating in a research note on Thursday, December 4th. Jefferies Financial Group upped their price objective on shares of CareTrust REIT from $41.00 to $43.00 and gave the company a “buy” rating in a research note on Monday, December 15th. Royal Bank Of Canada lifted their target price on CareTrust REIT from $36.00 to $41.00 and gave the stock an “outperform” rating in a research report on Monday, November 10th. Finally, Wells Fargo & Company raised their price target on CareTrust REIT from $38.00 to $41.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 25th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, CareTrust REIT presently has a consensus rating of “Moderate Buy” and an average target price of $37.89.

CareTrust REIT Price Performance

NASDAQ:CTRE opened at $37.74 on Friday. CareTrust REIT, Inc. has a 52 week low of $24.79 and a 52 week high of $38.32. The company has a debt-to-equity ratio of 0.14, a quick ratio of 3.82 and a current ratio of 3.82. The firm’s 50-day simple moving average is $36.83 and its 200 day simple moving average is $34.63. The firm has a market cap of $8.43 billion, a price-to-earnings ratio of 47.77, a P/E/G ratio of 1.25 and a beta of 0.75.

CareTrust REIT Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, January 15th. Investors of record on Wednesday, December 31st were paid a $0.335 dividend. This represents a $1.34 annualized dividend and a dividend yield of 3.6%. The ex-dividend date was Wednesday, December 31st. CareTrust REIT’s payout ratio is 100.00%.

CareTrust REIT Profile

CareTrust REIT, Inc is a healthcare-focused real estate investment trust that acquires and manages net-leased properties serving the senior housing and medical markets. The company’s portfolio spans skilled nursing facilities, assisted living communities, independent living properties, medical office buildings and life science facilities. By structuring leases on a triple-net basis, CareTrust REIT offers long-term, stable rental income streams while allowing its tenants to operate and maintain their specialized healthcare facilities.

The company’s assets are geographically diversified across the United States, with a concentration in regions experiencing aging demographics and growing demand for senior care services.