Elevation Point Wealth Partners LLC Buys Shares of 14,244 CareTrust REIT, Inc. $CTRE

Elevation Point Wealth Partners LLC purchased a new position in shares of CareTrust REIT, Inc. (NYSE:CTRE) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 14,244 shares of the company’s stock, valued at approximately $523,000.

A number of other hedge funds have also added to or reduced their stakes in the business. Kemnay Advisory Services Inc. bought a new position in CareTrust REIT in the fourth quarter valued at approximately $27,000. Transamerica Financial Advisors LLC lifted its position 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 valued at $32,000 after buying an additional 728 shares during the last quarter. Allworth Financial LP boosted its stake in shares of CareTrust REIT by 114.0% during the 3rd 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 position in shares of CareTrust REIT during the 4th quarter worth approximately $40,000. Finally, EverSource Wealth Advisors LLC increased its holdings in shares of CareTrust REIT by 134.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,124 shares of the company’s stock worth $34,000 after acquiring an additional 644 shares during the last quarter. Institutional investors own 87.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on CTRE. Raymond James Financial assumed coverage on CareTrust REIT in a report on Tuesday, June 16th. They set an “outperform” rating and a $43.00 price target for the company. Citigroup restated a “market outperform” rating on shares of CareTrust REIT in a research note on Wednesday, June 10th. Weiss Ratings upgraded shares of CareTrust REIT from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Monday. Mizuho set a $45.00 price target on shares of CareTrust REIT in a report on Friday, May 22nd. Finally, KeyCorp reaffirmed an “overweight” rating and issued a $46.00 price objective on shares of CareTrust REIT in a report on Friday, May 29th. Two analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $44.82.

CareTrust REIT Stock Performance

Shares of NYSE:CTRE opened at $41.37 on Thursday. CareTrust REIT, Inc. has a 1 year low of $30.21 and a 1 year high of $43.08. The stock has a market capitalization of $9.77 billion, a price-to-earnings ratio of 26.52, a price-to-earnings-growth ratio of 1.88 and a beta of 0.76. 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 company’s 50 day simple moving average is $39.74 and its 200 day simple moving average is $38.79.

CareTrust REIT Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be issued a dividend of $0.39 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 3.8%. CareTrust REIT’s payout ratio is 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.