Janney Montgomery Scott LLC Sells 14,363 Shares of CareTrust REIT, Inc. $CTRE

Janney Montgomery Scott LLC lessened its stake in CareTrust REIT, Inc. (NYSE:CTRE) by 20.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 57,206 shares of the company’s stock after selling 14,363 shares during the period. Janney Montgomery Scott LLC’s holdings in CareTrust REIT were worth $2,097,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in CTRE. Kemnay Advisory Services Inc. purchased a new stake in shares of CareTrust REIT during the fourth quarter valued at about $27,000. Transamerica Financial Advisors LLC grew its position in shares of CareTrust REIT by 520.0% in the 4th quarter. Transamerica Financial Advisors LLC now owns 868 shares of the company’s stock worth $32,000 after buying an additional 728 shares during the last quarter. Allworth Financial LP raised 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 in the last quarter. 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 lifted its position in CareTrust REIT by 134.2% during 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 currently owned by institutional investors.

Wall Street Analysts Forecast Growth

CTRE has been the subject of several recent analyst reports. Raymond James Financial assumed 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. KeyCorp reiterated an “overweight” rating and set a $46.00 price objective on shares of CareTrust REIT in a report on Friday, May 29th. BMO Capital Markets increased their price objective on CareTrust REIT from $46.00 to $47.00 and gave the company an “outperform” rating in a report on Monday, June 15th. Citigroup reissued a “market outperform” rating on shares of CareTrust REIT in a research report on Wednesday, June 10th. Finally, Zacks Research upgraded CareTrust REIT from a “strong sell” rating to a “hold” rating in a research note on Monday, May 25th. Two 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 company. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $44.82.

CareTrust REIT Stock Down 1.0%

CTRE stock opened at $41.37 on Thursday. The stock has a market capitalization of $9.77 billion, a PE ratio of 26.52, a price-to-earnings-growth ratio of 1.88 and a beta of 0.76. CareTrust REIT, Inc. has a 52 week low of $30.21 and a 52 week high of $43.08. The company has a quick ratio of 2.37, a current ratio of 2.38 and a debt-to-equity ratio of 0.22. The firm has a 50 day moving average of $39.74 and a 200 day moving average of $38.79.

CareTrust REIT Announces Dividend

The business also recently declared 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. 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 dividend payout ratio (DPR) 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.