Public Sector Pension Investment Board Increases Position in CareTrust REIT, Inc. $CTRE

Public Sector Pension Investment Board raised its holdings in shares of CareTrust REIT, Inc. (NASDAQ:CTRE) by 31.5% in the third quarter, Holdings Channel.com reports. The firm owned 859,256 shares of the real estate investment trust’s stock after purchasing an additional 205,757 shares during the period. Public Sector Pension Investment Board’s holdings in CareTrust REIT were worth $29,799,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. EverSource Wealth Advisors LLC increased its position in CareTrust REIT by 134.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,124 shares of the real estate investment trust’s stock valued at $34,000 after buying an additional 644 shares in the last quarter. Farther Finance Advisors LLC boosted its holdings in CareTrust REIT by 75.1% in the third quarter. Farther Finance Advisors LLC now owns 1,492 shares of the real estate investment trust’s stock worth $52,000 after acquiring an additional 640 shares in the last quarter. Salomon & Ludwin LLC purchased a new stake in shares of CareTrust REIT in the third quarter worth $54,000. State of Wyoming purchased a new stake in shares of CareTrust REIT in the third quarter worth $65,000. Finally, Private Trust Co. NA raised its position in shares of CareTrust REIT by 1,328.3% in the 2nd quarter. Private Trust Co. NA now owns 2,828 shares of the real estate investment trust’s stock worth $87,000 after purchasing an additional 2,630 shares during the last quarter. 87.77% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently commented on CTRE shares. KeyCorp increased their price objective on shares of CareTrust REIT from $36.00 to $40.00 and gave the company an “overweight” rating in a research report on Thursday, December 4th. Royal Bank Of Canada increased their price target on shares of CareTrust REIT from $36.00 to $41.00 and gave the company an “outperform” rating in a report on Monday, November 10th. UBS Group boosted their price objective on shares of CareTrust REIT from $42.00 to $43.00 and gave the stock a “buy” rating in a report on Thursday, January 8th. The Goldman Sachs Group set a $44.00 price objective on CareTrust REIT in a research report on Thursday, January 22nd. Finally, Jefferies Financial Group increased their target price on CareTrust REIT from $41.00 to $43.00 and gave the company a “buy” rating in a research note on Monday, December 15th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $39.00.

CareTrust REIT Stock Down 0.3%

CTRE opened at $40.02 on Friday. The stock has a market capitalization of $8.94 billion, a price-to-earnings ratio of 50.65, a PEG ratio of 1.25 and a beta of 0.75. The firm has a 50 day moving average price of $37.15 and a 200-day moving average price of $35.55. CareTrust REIT, Inc. has a twelve month low of $24.79 and a twelve month high of $40.50. The company has a quick ratio of 3.82, a current ratio of 3.82 and a debt-to-equity ratio of 0.14.

CareTrust REIT Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st were issued a dividend of $0.335 per share. This represents a $1.34 annualized dividend and a dividend yield of 3.3%. The ex-dividend date of this dividend was Wednesday, December 31st. CareTrust REIT’s dividend payout ratio is presently 100.00%.

About CareTrust REIT

CareTrust REIT, Inc is a healthcare-focused real estate investment trust that acquires and manages net-leased properties serving the senior housing and medical markets. The company’s portfolio spans skilled nursing facilities, assisted living communities, independent living properties, medical office buildings and life science facilities. By structuring leases on a triple-net basis, CareTrust REIT offers long-term, stable rental income streams while allowing its tenants to operate and maintain their specialized healthcare facilities.

The company’s assets are geographically diversified across the United States, with a concentration in regions experiencing aging demographics and growing demand for senior care services.