Pacer Advisors Inc. Buys New Shares in CareTrust REIT, Inc. $CTRE

Pacer Advisors Inc. purchased a new stake in shares of CareTrust REIT, Inc. (NYSE:CTRE) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 26,528 shares of the company’s stock, valued at approximately $972,000.

A number of other large investors have also recently bought and sold shares of the business. T. Rowe Price Investment Management Inc. boosted its position in shares of CareTrust REIT by 108.5% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 6,493,898 shares of the company’s stock valued at $234,820,000 after purchasing an additional 3,379,732 shares in the last quarter. Norges Bank bought a new stake in CareTrust REIT in the fourth quarter worth approximately $114,810,000. Wellington Management Group LLP increased its holdings in CareTrust REIT by 18.1% in the fourth quarter. Wellington Management Group LLP now owns 12,355,966 shares of the company’s stock worth $446,792,000 after purchasing an additional 1,893,143 shares in the last quarter. Daiwa Securities Group Inc. lifted its stake in CareTrust REIT by 114.4% in the third quarter. Daiwa Securities Group Inc. now owns 3,238,307 shares of the company’s stock valued at $112,305,000 after buying an additional 1,728,043 shares during the period. Finally, State Street Corp boosted its holdings in shares of CareTrust REIT by 11.7% during the 3rd quarter. State Street Corp now owns 12,206,572 shares of the company’s stock worth $427,336,000 after buying an additional 1,277,378 shares in the last quarter. 87.77% of the stock is currently owned by institutional investors and hedge funds.

CareTrust REIT Trading Down 0.0%

NYSE CTRE opened at $41.22 on Monday. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 0.27. CareTrust REIT, Inc. has a 52 week low of $32.25 and a 52 week high of $43.62. The business has a 50 day moving average price of $40.11 and a 200-day moving average price of $39.54. The company has a market cap of $9.74 billion, a price-to-earnings ratio of 25.92, a P/E/G ratio of 1.85 and a beta of 0.75.

CareTrust REIT Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were given a $0.39 dividend. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $1.56 annualized dividend and a yield of 3.8%. CareTrust REIT’s dividend payout ratio (DPR) is presently 98.11%.

Analyst Ratings Changes

Several research firms have recently weighed in on CTRE. BMO Capital Markets lifted their price objective on shares of CareTrust REIT from $46.00 to $47.00 and gave the company an “outperform” rating in a research note on Monday, June 15th. Wells Fargo & Company raised their price target on shares of CareTrust REIT from $42.00 to $47.00 and gave the stock an “overweight” rating in a report on Monday, June 1st. 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 price target for the company. Zacks Research upgraded shares of CareTrust REIT from a “strong sell” rating to a “hold” rating in a report on Monday, May 25th. Finally, Weiss Ratings raised shares of CareTrust REIT from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Wednesday. 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’s stock. Based on data from MarketBeat, CareTrust REIT presently has a consensus rating of “Buy” and a consensus 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.