Bank of New York Mellon Corp Grows Stock Holdings in CareTrust REIT, Inc. $CTRE

Bank of New York Mellon Corp boosted its stake in CareTrust REIT, Inc. (NYSE:CTRE) by 5.2% during the 1st quarter, HoldingsChannel.com reports. The fund owned 2,558,104 shares of the company’s stock after purchasing an additional 127,138 shares during the period. Bank of New York Mellon Corp’s holdings in CareTrust REIT were worth $93,755,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. D.A. Davidson & CO. lifted its position in CareTrust REIT by 0.7% during the 4th quarter. D.A. Davidson & CO. now owns 40,781 shares of the company’s stock worth $1,475,000 after acquiring an additional 282 shares during the period. Swiss Life Asset Management Ltd increased its holdings in shares of CareTrust REIT by 2.9% in the fourth quarter. Swiss Life Asset Management Ltd now owns 10,309 shares of the company’s stock valued at $373,000 after purchasing an additional 291 shares during the period. Kestra Private Wealth Services LLC increased its holdings in shares of CareTrust REIT by 1.1% in the first quarter. Kestra Private Wealth Services LLC now owns 27,684 shares of the company’s stock valued at $1,015,000 after purchasing an additional 297 shares during the period. Tocqueville Asset Management L.P. raised 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 worth $378,000 after purchasing an additional 300 shares during the last quarter. Finally, UMB Bank n.a. raised its stake in shares of CareTrust REIT by 25.3% during the fourth quarter. UMB Bank n.a. now owns 1,525 shares of the company’s stock worth $55,000 after purchasing an additional 308 shares during the last quarter. 87.77% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on CTRE shares. Zacks Research upgraded shares of CareTrust REIT from a “strong sell” rating to a “hold” rating in a research report on Monday, May 25th. Weiss Ratings upgraded shares of CareTrust REIT from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Monday, July 6th. Citigroup restated a “market outperform” rating on shares of CareTrust REIT in a research note on Wednesday, June 10th. Raymond James Financial initiated coverage on shares of CareTrust REIT in a research note on Tuesday, June 16th. They issued an “outperform” rating and a $43.00 target price for the company. Finally, BMO Capital Markets lifted their target price on shares of CareTrust REIT from $46.00 to $47.00 and gave the company an “outperform” rating in a report on Monday, June 15th. Two investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $44.82.

CareTrust REIT Stock Down 1.1%

CTRE opened at $42.39 on Tuesday. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.38 and a quick ratio of 2.37. The business has a 50 day simple moving average of $39.95 and a 200-day simple moving average of $39.04. The stock has a market capitalization of $10.01 billion, a P/E ratio of 27.17, a P/E/G ratio of 1.93 and a beta of 0.76. CareTrust REIT, Inc. has a 12 month low of $30.26 and a 12 month high of $43.10.

CareTrust REIT Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were given a $0.39 dividend. The ex-dividend date was Tuesday, June 30th. This represents a $1.56 annualized dividend and a yield of 3.7%. CareTrust REIT’s dividend 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.