CareTrust REIT, Inc. $CTRE Shares Bought by Geode Capital Management LLC

Geode Capital Management LLC raised its stake in CareTrust REIT, Inc. (NYSE:CTRE) by 7.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,092,398 shares of the company’s stock after buying an additional 409,411 shares during the quarter. Geode Capital Management LLC owned about 2.73% of CareTrust REIT worth $220,332,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in CTRE. Vanguard Group Inc. lifted its position in shares of CareTrust REIT by 14.1% during the third quarter. Vanguard Group Inc. now owns 32,973,216 shares of the company’s stock worth $1,143,511,000 after purchasing an additional 4,067,975 shares in the last quarter. Hudson Bay Capital Management LP lifted its position in shares of CareTrust REIT by 713.4% during the third quarter. Hudson Bay Capital Management LP now owns 1,710,528 shares of the company’s stock worth $59,321,000 after purchasing an additional 1,989,394 shares in the last quarter. Daiwa Securities Group Inc. lifted its position in shares of CareTrust REIT by 114.4% during the third quarter. Daiwa Securities Group Inc. now owns 3,238,307 shares of the company’s stock worth $112,305,000 after purchasing an additional 1,728,043 shares in the last quarter. State Street Corp lifted its position in shares of CareTrust REIT by 11.7% during the third quarter. State Street Corp now owns 12,206,572 shares of the company’s stock worth $427,336,000 after purchasing an additional 1,277,378 shares in the last quarter. Finally, Life Cycle Investment Partners Ltd acquired a new stake in shares of CareTrust REIT during the fourth quarter worth about $39,742,000. Institutional investors and hedge funds own 87.77% of the company’s stock.

CareTrust REIT Stock Down 1.6%

CTRE stock opened at $38.73 on Wednesday. The company’s 50 day moving average price is $39.39 and its 200 day moving average price is $38.41. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.37 and a current ratio of 2.38. CareTrust REIT, Inc. has a fifty-two week low of $27.81 and a fifty-two week high of $43.08. The firm has a market capitalization of $9.15 billion, a price-to-earnings ratio of 24.82, a PEG ratio of 1.78 and a beta of 0.76.

CareTrust REIT Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st were paid a dividend of $0.39 per share. The ex-dividend date was Tuesday, March 31st. This is a positive change from CareTrust REIT’s previous quarterly dividend of $0.34. This represents a $1.56 dividend on an annualized basis and a dividend yield of 4.0%. CareTrust REIT’s payout ratio is currently 100.00%.

Analysts Set New Price Targets

CTRE has been the topic of several research reports. Zacks Research raised shares of CareTrust REIT from a “strong sell” rating to a “hold” rating in a research report on Monday, May 25th. Mizuho set a $45.00 price target on shares of CareTrust REIT in a research report on Friday, May 22nd. UBS Group increased their price target on shares of CareTrust REIT from $44.00 to $48.00 and gave the stock a “buy” rating in a research report on Wednesday, February 18th. Royal Bank Of Canada increased their price target on shares of CareTrust REIT from $41.00 to $44.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 24th. Finally, Wells Fargo & Company increased their price target on shares of CareTrust REIT from $42.00 to $47.00 and gave the stock an “overweight” rating in a research report on Monday. Three investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, CareTrust REIT presently has a consensus rating of “Buy” and a consensus price target of $44.09.

About CareTrust REIT

CareTrust REIT, Inc is a real estate investment trust based in Deerfield Beach, Florida, specializing in the ownership, acquisition and management of net-leased healthcare properties. The company primarily focuses on seniors housing and post-acute care facilities, entering into long-term, triple-net lease agreements with leading operators in the skilled nursing, assisted living, memory care, inpatient rehabilitation and specialty hospital sectors. Through its portfolio, CareTrust REIT aims to provide investors with stable and predictable rental income while supporting the ongoing demand for quality healthcare real estate across the United States.

Since its initial public offering in September 2013, CareTrust REIT has pursued a disciplined acquisition strategy, targeting properties in primary and select secondary markets.