Bank of New York Mellon Corp Has $87.90 Million Stock Position in CareTrust REIT, Inc. $CTRE

Bank of New York Mellon Corp reduced its holdings in shares of CareTrust REIT, Inc. (NYSE:CTRE) by 2.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,430,966 shares of the company’s stock after selling 67,458 shares during the quarter. Bank of New York Mellon Corp’s holdings in CareTrust REIT were worth $87,904,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in CTRE. Nomura Asset Management Co. Ltd. boosted its holdings in CareTrust REIT by 4.2% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 333,160 shares of the company’s stock worth $12,047,000 after purchasing an additional 13,300 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in CareTrust REIT by 2.2% during the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 128,057 shares of the company’s stock worth $4,631,000 after purchasing an additional 2,751 shares during the last quarter. Norges Bank purchased a new position in CareTrust REIT during the fourth quarter worth about $114,810,000. Eurizon Capital SGR S.p.A. purchased a new position in CareTrust REIT during the fourth quarter worth about $44,000. Finally, Pasadena Private Wealth LLC purchased a new position in CareTrust REIT during the fourth quarter worth about $301,000. 87.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

CTRE has been the topic of several research reports. Wells Fargo & Company lifted their price objective on shares of CareTrust REIT from $42.00 to $47.00 and gave the stock an “overweight” rating in a research report on Monday, June 1st. Cantor Fitzgerald lifted their price objective on shares of CareTrust REIT from $37.00 to $42.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 17th. Royal Bank Of Canada lifted their price objective 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. Mizuho set a $45.00 price objective on shares of CareTrust REIT in a research report on Friday, May 22nd. Finally, KeyCorp reaffirmed an “overweight” rating and issued a $46.00 price objective on shares of CareTrust REIT in a research report on Friday, May 29th. Three investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $44.09.

CareTrust REIT Price Performance

Shares of NYSE:CTRE opened at $36.93 on Tuesday. The company has a 50 day moving average of $39.45 and a 200 day moving average of $38.47. The stock has a market cap of $8.72 billion, a P/E ratio of 23.67, a P/E/G ratio of 1.72 and a beta of 0.76. CareTrust REIT, Inc. has a 12 month low of $27.81 and a 12 month high of $43.08. The company has a current ratio of 2.38, a quick ratio of 2.37 and a debt-to-equity ratio of 0.22.

CareTrust REIT Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st were paid a $0.39 dividend. This is a positive change 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 dividend payout ratio is currently 100.00%.

CareTrust REIT Company Profile

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.