Daiwa Securities Group Inc. Has $83.78 Million Stock Position in CareTrust REIT, Inc. $CTRE

Daiwa Securities Group Inc. reduced its position in shares of CareTrust REIT, Inc. (NYSE:CTRE) by 28.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,316,967 shares of the company’s stock after selling 921,340 shares during the period. Daiwa Securities Group Inc. owned approximately 1.04% of CareTrust REIT worth $83,782,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Heritage Wealth Advisors increased its holdings in shares of CareTrust REIT by 42.9% during the third quarter. Heritage Wealth Advisors now owns 1,000 shares of the company’s stock worth $35,000 after buying an additional 300 shares in the last quarter. Allworth Financial LP increased its holdings in shares of CareTrust REIT by 114.0% during the third quarter. Allworth Financial LP now owns 1,042 shares of the company’s stock worth $36,000 after buying an additional 555 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of CareTrust REIT by 134.2% in the second quarter. EverSource Wealth Advisors LLC now owns 1,124 shares of the company’s stock worth $34,000 after purchasing an additional 644 shares during the last quarter. Eurizon Capital SGR S.p.A. bought a new stake in shares of CareTrust REIT in the fourth quarter worth $44,000. Finally, Groesbeck Investment Management Corp NJ bought a new stake in shares of CareTrust REIT in the fourth quarter worth $43,000. 87.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on CTRE. Mizuho set a $45.00 price objective on shares of CareTrust REIT in a research note on Friday, May 22nd. Zacks Research raised shares of CareTrust REIT from a “strong sell” rating to a “hold” rating in a research note on Monday, May 25th. Cantor Fitzgerald upped their price target on shares of CareTrust REIT from $37.00 to $42.00 and gave the company a “neutral” rating in a research report on Tuesday, February 17th. Wells Fargo & Company upped their price target on shares of CareTrust REIT from $42.00 to $47.00 and gave the company an “overweight” rating in a research report on Monday. Finally, KeyCorp reaffirmed an “overweight” rating and set a $46.00 price target on shares of CareTrust REIT in a research report on Friday, May 29th. Three equities research 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. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $44.09.

CareTrust REIT Stock Performance

Shares of CTRE opened at $37.38 on Friday. The company has a current ratio of 2.38, a quick ratio of 2.37 and a debt-to-equity ratio of 0.22. The stock has a market capitalization of $8.83 billion, a P/E ratio of 23.96, a price-to-earnings-growth ratio of 1.72 and a beta of 0.76. The firm’s fifty day simple moving average is $39.45 and its two-hundred day simple moving average is $38.46. CareTrust REIT, Inc. has a 12 month low of $27.81 and a 12 month high of $43.08.

CareTrust REIT Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st were given a dividend of $0.39 per share. This is a boost from CareTrust REIT’s previous quarterly dividend of $0.34. The ex-dividend date of this dividend was Tuesday, March 31st. This represents a $1.56 dividend on an annualized basis and a dividend yield of 4.2%. CareTrust REIT’s payout ratio is currently 100.00%.

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.