Hsbc Holdings PLC Sells 35,041 Shares of CareTrust REIT, Inc. $CTRE

Hsbc Holdings PLC trimmed its stake in CareTrust REIT, Inc. (NYSE:CTRE) by 5.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 609,127 shares of the company’s stock after selling 35,041 shares during the period. Hsbc Holdings PLC owned about 0.27% of CareTrust REIT worth $21,999,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of CTRE. Kemnay Advisory Services Inc. acquired a new stake in shares of CareTrust REIT in the fourth quarter valued at about $27,000. Transamerica Financial Advisors LLC lifted its stake in shares of CareTrust REIT by 520.0% in the fourth quarter. Transamerica Financial Advisors LLC now owns 868 shares of the company’s stock worth $32,000 after acquiring an additional 728 shares during the period. Allworth Financial LP lifted its stake in shares of CareTrust REIT by 114.0% in the third quarter. Allworth Financial LP now owns 1,042 shares of the company’s stock worth $36,000 after acquiring an additional 555 shares during the period. Mcguire Capital Advisors Inc. bought a new stake in CareTrust REIT in the fourth quarter valued at approximately $40,000. Finally, EverSource Wealth Advisors LLC boosted its holdings in CareTrust REIT by 134.2% in the second quarter. EverSource Wealth Advisors LLC now owns 1,124 shares of the company’s stock valued at $34,000 after acquiring an additional 644 shares during the last quarter. 87.77% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Citigroup restated a “market outperform” rating on shares of CareTrust REIT in a report on Wednesday, June 10th. BMO Capital Markets increased their price objective on shares of CareTrust REIT from $46.00 to $47.00 and gave the stock an “outperform” rating in a research report on Monday, June 15th. KeyCorp reissued an “overweight” rating and set a $46.00 target price on shares of CareTrust REIT in a research note on Friday, May 29th. Zacks Research upgraded shares of CareTrust REIT from a “strong sell” rating to a “hold” rating in a report on Monday, May 25th. Finally, 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, June 1st. Two analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Buy” and an average price target of $44.82.

CareTrust REIT Stock Performance

Shares of CTRE stock opened at $41.80 on Wednesday. The firm has a 50 day moving average of $39.69 and a 200-day moving average of $38.76. The company has a market cap of $9.87 billion, a price-to-earnings ratio of 26.79, a price-to-earnings-growth ratio of 1.86 and a beta of 0.76. The company has a quick ratio of 2.37, a current ratio of 2.38 and a debt-to-equity ratio of 0.22. CareTrust REIT, Inc. has a 52 week low of $30.21 and a 52 week high of $43.08.

CareTrust REIT Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be given a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date of this dividend is Tuesday, June 30th. CareTrust REIT’s payout ratio is presently 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.