Monashee Investment Management LLC Makes New Investment in CareTrust REIT, Inc. $CTRE

Monashee Investment Management LLC acquired a new position in shares of CareTrust REIT, Inc. (NASDAQ:CTRE) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 60,000 shares of the real estate investment trust’s stock, valued at approximately $2,081,000.

Several other institutional investors and hedge funds have also modified their holdings of CTRE. EverSource Wealth Advisors LLC increased its holdings 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 purchasing an additional 644 shares in the last quarter. Farther Finance Advisors LLC grew its holdings in shares of CareTrust REIT by 75.1% during the third quarter. Farther Finance Advisors LLC now owns 1,492 shares of the real estate investment trust’s stock worth $52,000 after purchasing an additional 640 shares during the last quarter. Salomon & Ludwin LLC bought a new stake in shares of CareTrust REIT during the third quarter worth $54,000. State of Wyoming acquired a new stake in shares of CareTrust REIT in the third quarter valued at $65,000. Finally, Jones Financial Companies Lllp raised its holdings in shares of CareTrust REIT by 13.4% in the third quarter. Jones Financial Companies Lllp now owns 2,615 shares of the real estate investment trust’s stock valued at $91,000 after buying an additional 309 shares during the last quarter. 87.77% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. The Goldman Sachs Group set a $44.00 price target on shares of CareTrust REIT in a research report on Thursday, January 22nd. Citigroup initiated coverage on shares of CareTrust REIT in a research report on Thursday, January 22nd. They set a “market outperform” rating on the stock. UBS Group increased their price target on shares of CareTrust REIT from $44.00 to $48.00 and gave the company a “buy” rating in a research note on Wednesday, February 18th. Citizens Jmp assumed coverage on shares of CareTrust REIT in a report on Thursday, January 22nd. They issued a “market outperform” rating and a $44.00 price target for the company. Finally, Jefferies Financial Group upped their price objective on CareTrust REIT from $41.00 to $43.00 and gave the stock a “buy” rating in a report on Monday, December 15th. One investment 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 issued a Sell rating to the stock. Based on data from MarketBeat, CareTrust REIT has an average rating of “Moderate Buy” and a consensus price target of $40.18.

CareTrust REIT Stock Down 1.2%

Shares of NASDAQ CTRE opened at $40.65 on Friday. CareTrust REIT, Inc. has a 1 year low of $25.48 and a 1 year high of $41.72. The firm’s 50-day moving average is $37.92 and its 200-day moving average is $36.14. The company has a current ratio of 3.82, a quick ratio of 3.82 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $9.07 billion, a PE ratio of 51.46, a price-to-earnings-growth ratio of 1.25 and a beta of 0.75.

CareTrust REIT Announces Dividend

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

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.