Knights of Columbus Asset Advisors LLC Sells 68,046 Shares of CareTrust REIT, Inc. $CTRE

Knights of Columbus Asset Advisors LLC lessened its holdings in shares of CareTrust REIT, Inc. (NYSE:CTRE) by 58.9% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 47,498 shares of the company’s stock after selling 68,046 shares during the period. Knights of Columbus Asset Advisors LLC’s holdings in CareTrust REIT were worth $1,737,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of CareTrust REIT during the second quarter worth approximately $8,231,000. Greenland Capital Management LP bought a new stake in shares of CareTrust REIT in the second quarter valued at approximately $9,684,000. Corient Private Wealth LP boosted its position in shares of CareTrust REIT by 76.2% in the second quarter. Corient Private Wealth LP now owns 166,828 shares of the company’s stock valued at $6,732,000 after acquiring an additional 72,137 shares during the period. Hsbc Holdings PLC boosted its position in shares of CareTrust REIT by 17.2% in the second quarter. Hsbc Holdings PLC now owns 478,410 shares of the company’s stock valued at $19,334,000 after acquiring an additional 70,243 shares during the period. Finally, William Blair Investment Management LLC acquired a new stake in shares of CareTrust REIT in the second quarter worth $23,025,000. Institutional investors own 87.77% of the company’s stock.

CareTrust REIT Price Performance

Shares of NYSE:CTRE opened at $38.62 on Thursday. CareTrust REIT, Inc. has a 1-year low of $34.74 and a 1-year high of $43.62. The firm has a market capitalization of $9.95 billion, a PE ratio of 24.29, a PEG ratio of 1.38 and a beta of 0.77. The business’s 50 day moving average is $37.25 and its 200-day moving average is $39.01. The company has a current ratio of 3.08, a quick ratio of 3.08 and a debt-to-equity ratio of 0.39.

CareTrust REIT (NYSE:CTRE) last released its quarterly earnings data on Thursday, November 5th. The company reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.02. The business had revenue of $176.36 million for the quarter. CareTrust REIT had a return on equity of 8.08% and a net margin of 59.18%. Sell-side analysts predict that CareTrust REIT, Inc. will post 2.08 earnings per share for the current year.

CareTrust REIT Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th were paid a $0.39 dividend. The ex-dividend date was Wednesday, September 30th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 4.0%. CareTrust REIT’s dividend payout ratio is currently 98.11%.

Key CareTrust REIT News

These are some of the CTRE news items that stood out recently:

• Positive Sentiment: UBS raised its price target to $46 from $44 and reiterated a Buy rating, signaling a more optimistic view of CTRE’s prospects. UBS analyst recommendation
• Negative Sentiment: CareTrust launched an underwritten public offering of 17 million common shares tied to forward sale agreements. The additional share supply may create dilution concerns and near-term selling pressure; the offering remains subject to market and other conditions. Offering announcement

Wall Street Analyst Weigh In

Several research firms recently commented on CTRE. Wells Fargo & Company cut their target price on shares of CareTrust REIT from $44.00 to $43.00 and set an “overweight” rating for the company in a research note on Monday, October 19th. BMO Capital Markets decreased their price target on shares of CareTrust REIT from $47.00 to $45.00 and set an “outperform” rating on the stock in a research report on Monday, October 5th. Wall Street Zen lowered shares of CareTrust REIT from a “hold” rating to a “sell” rating in a research report on Saturday, November 7th. Huntington started coverage on shares of CareTrust REIT in a report on Thursday, September 10th. They set an “outperform” rating and a $44.00 price objective on the stock. Finally, Raymond James Financial reaffirmed an “outperform” rating and set a $41.00 price objective on shares of CareTrust REIT in a research report on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, CareTrust REIT currently has a consensus rating of “Moderate Buy” and an average price target of $43.71.

CareTrust REIT Profile

CareTrust REIT, Inc. is a real estate investment trust that owns and invests in healthcare-related properties, with a focus on skilled nursing facilities and senior housing. Its portfolio also includes assisted living and other properties that serve older adults and people requiring healthcare services. The company primarily works with healthcare operators through long-term property leases and other real estate investments. CareTrust’s properties are located across the United States, and the company has expanded its investments into the United Kingdom.