Mitsubishi UFJ Asset Management Co. Ltd. Has $5.77 Million Position in CareTrust REIT, Inc. $CTRE

Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in CareTrust REIT, Inc. (NASDAQ:CTRE) by 20.6% during the third quarter, HoldingsChannel reports. The institutional investor owned 166,296 shares of the real estate investment trust’s stock after acquiring an additional 28,409 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in CareTrust REIT were worth $5,767,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. World Investment Advisors lifted its stake in shares of CareTrust REIT by 1.3% in the third quarter. World Investment Advisors now owns 23,104 shares of the real estate investment trust’s stock worth $801,000 after acquiring an additional 306 shares during the period. Jones Financial Companies Lllp raised its holdings in CareTrust REIT by 13.4% during the 3rd quarter. Jones Financial Companies Lllp now owns 2,615 shares of the real estate investment trust’s stock worth $91,000 after purchasing an additional 309 shares during the last quarter. SageView Advisory Group LLC lifted its position in shares of CareTrust REIT by 2.9% in the 2nd quarter. SageView Advisory Group LLC now owns 11,900 shares of the real estate investment trust’s stock worth $364,000 after purchasing an additional 332 shares during the period. GF Fund Management CO. LTD. lifted its position in shares of CareTrust REIT by 10.8% in the 3rd quarter. GF Fund Management CO. LTD. now owns 3,668 shares of the real estate investment trust’s stock worth $127,000 after purchasing an additional 358 shares during the period. Finally, WealthShield Partners LLC boosted its stake in shares of CareTrust REIT by 0.8% in the 3rd quarter. WealthShield Partners LLC now owns 48,374 shares of the real estate investment trust’s stock valued at $1,678,000 after purchasing an additional 379 shares during the last quarter. 87.77% of the stock is currently owned by institutional investors.

CareTrust REIT Price Performance

Shares of NASDAQ CTRE opened at $40.85 on Tuesday. The firm has a market capitalization of $9.12 billion, a P/E ratio of 51.70, a P/E/G ratio of 1.25 and a beta of 0.75. The firm’s 50-day moving average price is $38.01 and its 200-day moving average price is $36.21. 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, Inc. has a 1-year low of $25.48 and a 1-year high of $41.72.

CareTrust REIT Dividend Announcement

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

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Citigroup initiated coverage on shares of CareTrust REIT in a research note on Thursday, January 22nd. They set a “market outperform” rating for the company. Jefferies Financial Group increased their price target on CareTrust REIT from $41.00 to $43.00 and gave the stock a “buy” rating in a report on Monday, December 15th. The Goldman Sachs Group set a $44.00 price objective on CareTrust REIT in a research note on Thursday, January 22nd. Wells Fargo & Company upped their target price on CareTrust REIT from $38.00 to $41.00 and gave the company an “overweight” rating in a research report on Tuesday, November 25th. Finally, Cantor Fitzgerald lifted their target price on CareTrust REIT from $37.00 to $42.00 and gave the stock a “neutral” rating in a report on Tuesday, February 17th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, CareTrust REIT has a consensus rating of “Moderate Buy” and a consensus target price of $40.18.

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.