Flatrock Wealth Partners LLC Acquires Shares of 276,651 CareTrust REIT, Inc. $CTRE

Flatrock Wealth Partners LLC bought a new position in CareTrust REIT, Inc. (NYSE:CTRE) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 276,651 shares of the company’s stock, valued at approximately $10,247,000. CareTrust REIT comprises approximately 4.6% of Flatrock Wealth Partners LLC’s holdings, making the stock its 5th largest holding. Flatrock Wealth Partners LLC owned approximately 0.12% of CareTrust REIT as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in CareTrust REIT by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 33,184,181 shares of the company’s stock valued at $1,199,940,000 after acquiring an additional 210,965 shares in the last quarter. State Street Corp raised its stake in shares of CareTrust REIT by 1.8% in the fourth quarter. State Street Corp now owns 12,426,213 shares of the company’s stock worth $453,411,000 after purchasing an additional 219,641 shares during the last quarter. Wellington Management Group LLP raised its stake in shares of CareTrust REIT by 18.1% in the fourth quarter. Wellington Management Group LLP now owns 12,355,966 shares of the company’s stock worth $446,792,000 after purchasing an additional 1,893,143 shares during the last quarter. T. Rowe Price Investment Management Inc. lifted its holdings in shares of CareTrust REIT by 108.5% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 6,493,898 shares of the company’s stock valued at $234,820,000 after purchasing an additional 3,379,732 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of CareTrust REIT by 7.2% during the fourth quarter. Geode Capital Management LLC now owns 6,092,398 shares of the company’s stock valued at $220,332,000 after buying an additional 409,411 shares during the last quarter. Hedge funds and other institutional investors own 87.77% of the company’s stock.

CareTrust REIT Stock Up 1.0%

CTRE opened at $41.80 on Wednesday. The firm’s 50 day simple moving average is $39.69 and its two-hundred day simple moving average is $38.76. The company has a market capitalization of $9.87 billion, a PE ratio of 26.79, a PEG ratio of 1.86 and a beta of 0.76. CareTrust REIT, Inc. has a 1-year low of $30.21 and a 1-year high of $43.08. The company has a current ratio of 2.38, a quick ratio of 2.37 and a debt-to-equity ratio of 0.22.

CareTrust REIT Announces Dividend

The business 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 dividend of $0.39 per share. The ex-dividend date is Tuesday, June 30th. This represents a $1.56 annualized dividend and a yield of 3.7%. CareTrust REIT’s payout ratio is 100.00%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Citigroup reissued a “market outperform” rating on shares of CareTrust REIT in a research report on Wednesday, June 10th. Wells Fargo & Company raised their price target on shares of CareTrust REIT from $42.00 to $47.00 and gave the company an “overweight” rating in a report on Monday, June 1st. KeyCorp reiterated an “overweight” rating and issued a $46.00 price target on shares of CareTrust REIT in a research note on Friday, May 29th. Raymond James Financial started coverage on shares of CareTrust REIT in a research report on Tuesday, June 16th. They set an “outperform” rating and a $43.00 price objective on the stock. Finally, Weiss Ratings upgraded shares of CareTrust REIT from a “buy (b+)” rating to a “buy (a-)” rating in a report on Monday. Two investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, CareTrust REIT presently has a consensus rating of “Buy” and an average price target of $44.82.

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.