CareTrust REIT, Inc. $CTRE Shares Sold by CPC Advisors LLC

CPC Advisors LLC lessened its position in shares of CareTrust REIT, Inc. (NYSE:CTRE) by 54.7% during the 1st quarter, Holdings Channel reports. The institutional investor owned 74,153 shares of the company’s stock after selling 89,417 shares during the period. CPC Advisors LLC’s holdings in CareTrust REIT were worth $2,718,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Kemnay Advisory Services Inc. acquired a new position in shares of CareTrust REIT in the fourth quarter worth about $27,000. Transamerica Financial Advisors LLC grew its position in shares of CareTrust REIT by 520.0% during the 4th quarter. Transamerica Financial Advisors LLC now owns 868 shares of the company’s stock valued at $32,000 after acquiring an additional 728 shares during the period. 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 company’s stock valued at $34,000 after purchasing an additional 644 shares in the last quarter. Heritage Wealth Advisors increased its stake in shares of CareTrust REIT by 42.9% in the 3rd quarter. Heritage Wealth Advisors now owns 1,000 shares of the company’s stock valued at $35,000 after purchasing an additional 300 shares in the last quarter. Finally, Allworth Financial LP raised its holdings in CareTrust REIT by 114.0% in the 3rd quarter. Allworth Financial LP now owns 1,042 shares of the company’s stock worth $36,000 after purchasing an additional 555 shares during the period. Hedge funds and other institutional investors own 87.77% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Mizuho set a $45.00 price target on CareTrust REIT in a research report on Friday, May 22nd. Wells Fargo & Company boosted their price objective on CareTrust REIT from $42.00 to $47.00 and gave the company an “overweight” rating in a research report on Monday, June 1st. Citigroup reaffirmed a “market outperform” rating on shares of CareTrust REIT in a research note on Wednesday, June 10th. Raymond James Financial started coverage on CareTrust REIT in a research report on Tuesday, June 16th. They set an “outperform” rating and a $43.00 target price on the stock. Finally, KeyCorp reiterated an “overweight” rating and set a $46.00 target price on shares of CareTrust REIT in a research report on Friday, May 29th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, CareTrust REIT has a consensus rating of “Moderate Buy” and an average price target of $44.82.

CareTrust REIT Stock Down 0.1%

CTRE opened at $37.02 on Monday. CareTrust REIT, Inc. has a twelve month low of $29.52 and a twelve month high of $43.08. The company has a quick ratio of 2.37, a current ratio of 2.38 and a debt-to-equity ratio of 0.22. The company has a 50-day moving average price of $39.34 and a 200 day moving average price of $38.47. The company has a market cap of $8.75 billion, a PE ratio of 23.73, a price-to-earnings-growth ratio of 1.67 and a beta of 0.76.

CareTrust REIT Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be paid a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 4.2%. The ex-dividend date is Tuesday, June 30th. CareTrust REIT’s payout ratio is 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.