Concurrent Investment Advisors LLC Acquires New Shares in CareTrust REIT, Inc. $CTRE

Concurrent Investment Advisors LLC bought a new stake in CareTrust REIT, Inc. (NASDAQ:CTRE) during the 3rd quarter, HoldingsChannel reports. The fund bought 14,747 shares of the real estate investment trust’s stock, valued at approximately $511,000.

Several other institutional investors have also modified their holdings of CTRE. Sumitomo Mitsui Trust Group Inc. raised its position in shares of CareTrust REIT by 15.2% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 240,735 shares of the real estate investment trust’s stock worth $8,349,000 after purchasing an additional 31,756 shares during the period. New York State Teachers Retirement System lifted its position in shares of CareTrust REIT by 5.1% in the third quarter. New York State Teachers Retirement System now owns 233,658 shares of the real estate investment trust’s stock worth $8,103,000 after buying an additional 11,302 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in CareTrust REIT by 20.9% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 48,065 shares of the real estate investment trust’s stock worth $1,667,000 after purchasing an additional 8,301 shares during the period. Oregon Public Employees Retirement Fund grew its stake in CareTrust REIT by 13.8% in the 3rd quarter. Oregon Public Employees Retirement Fund now owns 49,612 shares of the real estate investment trust’s stock valued at $1,721,000 after buying an additional 6,000 shares during the last quarter. Finally, State of Alaska Department of Revenue grew its position in shares of CareTrust REIT by 4.1% in the third quarter. State of Alaska Department of Revenue now owns 214,192 shares of the real estate investment trust’s stock valued at $7,427,000 after purchasing an additional 8,495 shares during the last quarter. Institutional investors and hedge funds own 87.77% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on CTRE shares. Royal Bank Of Canada lifted their price target on shares of CareTrust REIT from $36.00 to $41.00 and gave the stock an “outperform” rating in a research note on Monday, November 10th. UBS Group upped their price target on shares of CareTrust REIT from $42.00 to $43.00 and gave the stock a “buy” rating in a research report on Thursday, January 8th. Cantor Fitzgerald began coverage on CareTrust REIT in a report on Wednesday, October 1st. They set a “neutral” rating and a $37.00 price objective for the company. Jefferies Financial Group raised their target price on CareTrust REIT from $41.00 to $43.00 and gave the stock a “buy” rating in a report on Monday, December 15th. Finally, Wells Fargo & Company raised their price objective 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 assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $37.89.

CareTrust REIT Trading Up 0.7%

CareTrust REIT stock opened at $37.74 on Tuesday. The stock has a market capitalization of $8.43 billion, a P/E ratio of 47.77, a PEG ratio of 1.25 and a beta of 0.75. The stock has a 50-day simple moving average of $36.85 and a 200 day simple moving average of $34.70. 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.

CareTrust REIT Announces Dividend

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

CareTrust REIT Company 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.