Louisiana State Employees Retirement System Acquires Shares of 64,800 CareTrust REIT, Inc. $CTRE

Louisiana State Employees Retirement System bought a new position in CareTrust REIT, Inc. (NYSE:CTRE) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 64,800 shares of the company’s stock, valued at approximately $2,375,000.

A number of other large investors have also recently made changes to their positions in the company. D.A. Davidson & CO. raised its position in CareTrust REIT by 0.7% in the 4th quarter. D.A. Davidson & CO. now owns 40,781 shares of the company’s stock worth $1,475,000 after purchasing an additional 282 shares during the period. Swiss Life Asset Management Ltd lifted its stake in CareTrust REIT by 2.9% in the fourth quarter. Swiss Life Asset Management Ltd now owns 10,309 shares of the company’s stock worth $373,000 after purchasing an additional 291 shares during the last quarter. Kestra Private Wealth Services LLC boosted its position in shares of CareTrust REIT by 1.1% during the first quarter. Kestra Private Wealth Services LLC now owns 27,684 shares of the company’s stock valued at $1,015,000 after buying an additional 297 shares during the period. Heritage Wealth Advisors boosted its position 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 valued at $35,000 after buying an additional 300 shares during the period. Finally, Tocqueville Asset Management L.P. grew its stake in shares of CareTrust REIT by 2.8% during the third quarter. Tocqueville Asset Management L.P. now owns 10,900 shares of the company’s stock valued at $378,000 after buying an additional 300 shares during the last quarter. 87.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CTRE has been the subject of a number of research analyst reports. Mizuho set a $45.00 price target on CareTrust REIT in a research note on Friday, May 22nd. 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. Zacks Research upgraded CareTrust REIT from a “strong sell” rating to a “hold” rating in a research note on Monday, May 25th. Weiss Ratings downgraded CareTrust REIT from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Thursday, June 11th. Finally, Citigroup reissued a “market outperform” rating on shares of CareTrust REIT in a research note on Wednesday, June 10th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $44.82.

CareTrust REIT Stock Down 1.0%

Shares of NYSE CTRE opened at $40.40 on Tuesday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.37 and a current ratio of 2.38. The firm has a market capitalization of $9.54 billion, a price-to-earnings ratio of 25.90, a PEG ratio of 1.84 and a beta of 0.76. The stock has a 50 day moving average price of $39.34 and a 200 day moving average price of $38.55. CareTrust REIT, Inc. has a 52-week low of $29.91 and a 52-week high of $43.08.

CareTrust REIT Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be issued a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 3.9%. The ex-dividend date is Tuesday, June 30th. CareTrust REIT’s dividend 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.