Gagnon Securities LLC Sells 14,863 Shares of CareTrust REIT, Inc. $CTRE

Gagnon Securities LLC trimmed its position in CareTrust REIT, Inc. (NASDAQ:CTRE) by 9.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 135,685 shares of the real estate investment trust’s stock after selling 14,863 shares during the quarter. Gagnon Securities LLC owned 0.06% of CareTrust REIT worth $4,706,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CTRE. EverSource Wealth Advisors LLC increased its stake in shares of CareTrust REIT by 134.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,124 shares of the real estate investment trust’s stock valued at $34,000 after purchasing an additional 644 shares during the last quarter. Farther Finance Advisors LLC boosted its stake in CareTrust REIT by 75.1% in the third quarter. Farther Finance Advisors LLC now owns 1,492 shares of the real estate investment trust’s stock valued at $52,000 after buying an additional 640 shares in the last quarter. Salomon & Ludwin LLC bought a new position in CareTrust REIT in the third quarter valued at about $54,000. Private Trust Co. NA grew its position in CareTrust REIT by 1,328.3% in the second quarter. Private Trust Co. NA now owns 2,828 shares of the real estate investment trust’s stock valued at $87,000 after acquiring an additional 2,630 shares during the last quarter. Finally, CWM LLC raised its stake in CareTrust REIT by 47.6% during the second quarter. CWM LLC now owns 2,955 shares of the real estate investment trust’s stock worth $90,000 after acquiring an additional 953 shares in the last quarter. 87.77% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

CTRE has been the topic of a number of research analyst reports. The Goldman Sachs Group set a $44.00 target price on shares of CareTrust REIT in a research report on Thursday, January 22nd. UBS Group lifted their price target on CareTrust REIT from $42.00 to $43.00 and gave the company a “buy” rating in a research note on Thursday, January 8th. KeyCorp boosted their price target on CareTrust REIT from $36.00 to $40.00 and gave the stock an “overweight” rating in a report on Thursday, December 4th. Citigroup assumed coverage on shares of CareTrust REIT in a report on Thursday, January 22nd. They issued a “market outperform” rating for the company. Finally, Citizens Jmp began coverage on shares of CareTrust REIT in a research report on Thursday, January 22nd. They set a “market outperform” rating and a $44.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $39.00.

CareTrust REIT Trading Up 1.5%

Shares of CTRE stock opened at $37.07 on Friday. CareTrust REIT, Inc. has a 1-year low of $24.79 and a 1-year high of $38.32. The company has a current ratio of 3.82, a quick ratio of 3.82 and a debt-to-equity ratio of 0.14. The stock has a market cap of $8.28 billion, a price-to-earnings ratio of 46.93, a PEG ratio of 1.25 and a beta of 0.75. The stock has a 50-day moving average of $36.94 and a 200-day moving average of $34.98.

CareTrust REIT Announces Dividend

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