Advisors Asset Management Inc. Boosts Stake in CareTrust REIT, Inc. $CTRE

Advisors Asset Management Inc. lifted its holdings in shares of CareTrust REIT, Inc. (NASDAQ:CTRE) by 222.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,058 shares of the real estate investment trust’s stock after buying an additional 13,151 shares during the period. Advisors Asset Management Inc.’s holdings in CareTrust REIT were worth $661,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. EverSource Wealth Advisors LLC boosted its holdings in shares of CareTrust REIT by 134.2% during 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 acquiring an additional 644 shares during the last quarter. Farther Finance Advisors LLC lifted its position in CareTrust REIT by 75.1% during 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 purchasing an additional 640 shares during the period. Salomon & Ludwin LLC purchased a new stake in CareTrust REIT in the third quarter worth approximately $54,000. State of Wyoming bought a new stake in CareTrust REIT in the 3rd quarter worth approximately $65,000. Finally, Jones Financial Companies Lllp grew its position in CareTrust REIT by 13.4% in the 3rd quarter. Jones Financial Companies Lllp now owns 2,615 shares of the real estate investment trust’s stock worth $91,000 after purchasing an additional 309 shares during the period. Hedge funds and other institutional investors own 87.77% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on CTRE. Cantor Fitzgerald increased their price target on CareTrust REIT from $37.00 to $42.00 and gave the company a “neutral” rating in a report on Tuesday. Citigroup assumed coverage on CareTrust REIT in a report on Thursday, January 22nd. They issued a “market outperform” rating on the stock. The Goldman Sachs Group set a $44.00 price target on CareTrust REIT in a research note on Thursday, January 22nd. Wells Fargo & Company upped their price target on shares of CareTrust REIT from $38.00 to $41.00 and gave the company an “overweight” rating in a research report on Tuesday, November 25th. Finally, Citizens Jmp started coverage on shares of CareTrust REIT in a report on Thursday, January 22nd. They issued a “market outperform” rating and a $44.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, CareTrust REIT currently has an average rating of “Moderate Buy” and an average target price of $39.91.

CareTrust REIT Stock Performance

Shares of CTRE opened at $40.20 on Thursday. The business has a 50-day simple moving average of $37.33 and a two-hundred day simple moving average of $35.76. The company has a quick ratio of 3.82, a current ratio of 3.82 and a debt-to-equity ratio of 0.14. CareTrust REIT, Inc. has a 52 week low of $24.79 and a 52 week high of $41.36. The stock has a market cap of $8.98 billion, a price-to-earnings ratio of 50.88, a PEG ratio of 1.25 and a beta of 0.75.

CareTrust REIT Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st were issued a dividend of $0.335 per share. The ex-dividend date of this dividend was Wednesday, December 31st. This represents a $1.34 annualized dividend and a yield of 3.3%. CareTrust REIT’s payout ratio is currently 86.45%.

About CareTrust REIT

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.