SG Americas Securities LLC Has $31.18 Million Stock Position in CareTrust REIT, Inc. $CTRE

SG Americas Securities LLC lowered its position in CareTrust REIT, Inc. (NYSE:CTRE) by 1.6% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 850,861 shares of the company’s stock after selling 14,268 shares during the period. SG Americas Securities LLC owned about 0.38% of CareTrust REIT worth $31,184,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. T. Rowe Price Investment Management Inc. increased its holdings in shares of CareTrust REIT by 108.5% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 6,493,898 shares of the company’s stock worth $234,820,000 after acquiring an additional 3,379,732 shares in the last quarter. Norges Bank bought a new position in shares of CareTrust REIT during the 4th quarter valued at about $114,810,000. Hudson Bay Capital Management LP grew its position in shares of CareTrust REIT by 713.4% in the 3rd quarter. Hudson Bay Capital Management LP now owns 1,710,528 shares of the company’s stock valued at $59,321,000 after purchasing an additional 1,989,394 shares during the period. Wellington Management Group LLP grew its position in shares of CareTrust REIT by 18.1% in the 4th quarter. Wellington Management Group LLP now owns 12,355,966 shares of the company’s stock valued at $446,792,000 after purchasing an additional 1,893,143 shares during the period. Finally, Daiwa Securities Group Inc. increased its stake in CareTrust REIT by 114.4% during the 3rd 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. Institutional investors and hedge funds own 87.77% of the company’s stock.

Wall Street Analysts Forecast Growth

CTRE has been the topic of several research analyst reports. Zacks Research upgraded shares of CareTrust REIT from a “strong sell” rating to a “hold” rating in a report on Monday, May 25th. Weiss Ratings downgraded shares of CareTrust REIT from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Thursday, June 11th. BMO Capital Markets raised their price objective on shares of CareTrust REIT from $46.00 to $47.00 and gave the stock an “outperform” rating in a report on Monday, June 15th. Royal Bank Of Canada upped their target price on shares of CareTrust REIT from $41.00 to $44.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 24th. Finally, KeyCorp reiterated an “overweight” rating and set a $46.00 target price on shares of CareTrust REIT in a report on Friday, May 29th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $44.82.

CareTrust REIT Trading Up 3.4%

CareTrust REIT stock opened at $38.77 on Wednesday. The company has a market cap of $9.16 billion, a price-to-earnings ratio of 24.85, a P/E/G ratio of 1.69 and a beta of 0.76. The firm has a 50-day moving average of $39.28 and a 200-day moving average of $38.48. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.38 and a quick ratio of 2.37. CareTrust REIT, Inc. has a one year low of $29.91 and a one year high of $43.08.

CareTrust REIT Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be given a dividend of $0.39 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $1.56 annualized dividend and a yield of 4.0%. CareTrust REIT’s dividend payout ratio is 100.00%.

CareTrust REIT 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.