VIRGINIA RETIREMENT SYSTEMS ET Al Grows Holdings in CareTrust REIT, Inc. $CTRE

VIRGINIA RETIREMENT SYSTEMS ET Al raised its position in CareTrust REIT, Inc. (NYSE:CTRE) by 39.8% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 317,400 shares of the company’s stock after buying an additional 90,400 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al owned about 0.14% of CareTrust REIT worth $11,477,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Heritage Wealth Advisors raised its position in shares of CareTrust REIT by 42.9% during the 3rd quarter. Heritage Wealth Advisors now owns 1,000 shares of the company’s stock worth $35,000 after purchasing an additional 300 shares during the last quarter. Allworth Financial LP raised its position 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 purchasing an additional 555 shares during the last quarter. EverSource Wealth Advisors LLC raised its position 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 purchasing an additional 644 shares during the last quarter. Groesbeck Investment Management Corp NJ acquired a new position in shares of CareTrust REIT during the 4th quarter worth about $43,000. Finally, USA Financial Formulas acquired a new position in shares of CareTrust REIT during the 4th quarter worth about $52,000. Institutional investors and hedge funds own 87.77% of the company’s stock.

CareTrust REIT Stock Performance

CTRE opened at $42.40 on Thursday. The firm has a market capitalization of $10.02 billion, a PE ratio of 27.18, a PEG ratio of 2.78 and a beta of 0.77. CareTrust REIT, Inc. has a twelve month low of $27.72 and a twelve month high of $42.45. The firm’s 50-day moving average price is $39.02 and its 200 day moving average price is $37.88. 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 (NYSE:CTRE) last posted its quarterly earnings results on Thursday, February 12th. The company reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.47 by $0.03. The firm had revenue of $134.86 million for the quarter. CareTrust REIT had a net margin of 64.10% and a return on equity of 8.65%. As a group, sell-side analysts expect that CareTrust REIT, Inc. will post 2 EPS for the current fiscal year.

CareTrust REIT Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st were issued a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 3.7%. The ex-dividend date was Tuesday, March 31st. This is a positive change from CareTrust REIT’s previous quarterly dividend of $0.34. CareTrust REIT’s dividend payout ratio (DPR) is presently 85.90%.

Wall Street Analyst Weigh In

CTRE has been the subject of several research analyst reports. UBS Group upped their price target on shares of CareTrust REIT from $44.00 to $48.00 and gave the stock a “buy” rating in a research report on Wednesday, February 18th. Citizens Jmp initiated coverage on shares of CareTrust REIT in a research report on Thursday, January 22nd. They set a “market outperform” rating and a $44.00 price target for the company. Wells Fargo & Company upped their price target on shares of CareTrust REIT from $41.00 to $42.00 and gave the stock an “overweight” rating in a research report on Thursday, March 26th. Citigroup assumed coverage on shares of CareTrust REIT in a research report on Thursday, January 22nd. They set a “market outperform” rating for the company. Finally, Weiss Ratings upgraded shares of CareTrust REIT from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Monday, January 26th. Three analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $42.82.

CareTrust REIT Company Profile

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.