California Public Employees Retirement System Lowers Holdings in CareTrust REIT, Inc. $CTRE

California Public Employees Retirement System decreased its position in shares of CareTrust REIT, Inc. (NYSE:CTRE) by 4.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 504,771 shares of the company’s stock after selling 26,286 shares during the quarter. California Public Employees Retirement System’s holdings in CareTrust REIT were worth $18,500,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Advisortrust Partners LLC increased its stake in shares of CareTrust REIT by 10.6% during the first quarter. Advisortrust Partners LLC now owns 7,042 shares of the company’s stock valued at $258,000 after buying an additional 673 shares during the period. Assetmark Inc. lifted its stake in CareTrust REIT by 5.5% in the first quarter. Assetmark Inc. now owns 44,533 shares of the company’s stock worth $1,632,000 after acquiring an additional 2,303 shares during the period. Bessemer Group Inc. lifted its stake in CareTrust REIT by 4,131.1% in the first quarter. Bessemer Group Inc. now owns 522,120 shares of the company’s stock worth $19,134,000 after acquiring an additional 509,780 shares during the period. B&I Capital AG lifted its stake in CareTrust REIT by 0.7% in the first quarter. B&I Capital AG now owns 305,900 shares of the company’s stock worth $11,211,000 after acquiring an additional 2,000 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its holdings in CareTrust REIT by 38.2% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 649,559 shares of the company’s stock worth $24,118,000 after acquiring an additional 179,499 shares in the last quarter. Institutional investors own 87.77% of the company’s stock.

CareTrust REIT Stock Performance

Shares of CTRE opened at $42.35 on Friday. The company has a current ratio of 2.38, a quick ratio of 2.37 and a debt-to-equity ratio of 0.22. The firm has a market cap of $10.00 billion, a PE ratio of 27.15, a P/E/G ratio of 1.91 and a beta of 0.76. CareTrust REIT, Inc. has a 12 month low of $30.51 and a 12 month high of $43.60. The stock has a fifty day moving average price of $39.99 and a 200-day moving average price of $39.18.

CareTrust REIT Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were given a dividend of $0.39 per share. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $1.56 dividend on an annualized basis and a yield of 3.7%. CareTrust REIT’s payout ratio is currently 100.00%.

Wall Street Analyst Weigh In

CTRE has been the topic of a number of research reports. Citigroup reissued a “market outperform” rating on shares of CareTrust REIT in a research report on Wednesday, June 10th. Weiss Ratings cut shares of CareTrust REIT from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Tuesday. KeyCorp reiterated an “overweight” rating and set a $46.00 price objective on shares of CareTrust REIT in a research note on Friday, May 29th. Wells Fargo & Company boosted their price objective on shares of CareTrust REIT from $42.00 to $47.00 and gave the stock an “overweight” rating in a research note on Monday, June 1st. Finally, Raymond James Financial assumed coverage on CareTrust REIT in a report on Tuesday, June 16th. They set an “outperform” rating and a $43.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price 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.