CareTrust REIT, Inc. $CTRE Shares Acquired by JPMorgan Chase & Co.

JPMorgan Chase & Co. boosted its stake in CareTrust REIT, Inc. (NASDAQ:CTRE) by 1.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,442,168 shares of the real estate investment trust’s stock after purchasing an additional 20,580 shares during the period. JPMorgan Chase & Co.’s holdings in CareTrust REIT were worth $50,014,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. EverSource Wealth Advisors LLC boosted its holdings in CareTrust REIT by 134.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,124 shares of the real estate investment trust’s stock worth $34,000 after acquiring an additional 644 shares during the period. Farther Finance Advisors LLC boosted its stake in shares of 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 valued at $52,000 after purchasing an additional 640 shares during the period. Salomon & Ludwin LLC acquired a new stake in CareTrust REIT during the 3rd quarter valued at $54,000. State of Wyoming purchased a new stake in CareTrust REIT during the 3rd quarter worth $65,000. Finally, CWM LLC lifted its holdings in CareTrust REIT by 47.6% in the 2nd quarter. CWM LLC now owns 2,955 shares of the real estate investment trust’s stock worth $90,000 after buying an additional 953 shares in the last quarter. Institutional investors and hedge funds own 87.77% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on CTRE shares. Cantor Fitzgerald boosted their price target on CareTrust REIT from $37.00 to $42.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 17th. Royal Bank Of Canada increased their target price on CareTrust REIT from $41.00 to $44.00 and gave the company an “outperform” rating in a research note on Tuesday. Wells Fargo & Company lifted their price target on shares of CareTrust REIT from $38.00 to $41.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 25th. 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 note on Thursday, December 4th. Finally, The Goldman Sachs Group set a $44.00 price objective on shares of CareTrust REIT in a report on Thursday, January 22nd. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $40.18.

CareTrust REIT Stock Performance

Shares of NASDAQ CTRE opened at $40.92 on Thursday. CareTrust REIT, Inc. has a 12-month low of $25.48 and a 12-month high of $41.36. The company has a market cap of $9.13 billion, a PE ratio of 51.80, a P/E/G ratio of 1.25 and a beta of 0.75. The stock has a 50 day simple moving average of $37.74 and a 200-day simple moving average of $36.03. The company has a current ratio of 3.82, a quick ratio of 3.82 and a debt-to-equity ratio of 0.14.

CareTrust REIT Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st were paid a $0.335 dividend. The ex-dividend date of this dividend was Wednesday, December 31st. This represents a $1.34 annualized dividend and a dividend yield of 3.3%. CareTrust REIT’s dividend payout ratio is presently 86.45%.

CareTrust REIT Company Profile

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.