Kestra Advisory Services LLC Acquires 28,055 Shares of CareTrust REIT, Inc. $CTRE

Kestra Advisory Services LLC raised its holdings in shares of CareTrust REIT, Inc. (NYSE:CTRE) by 141.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 47,832 shares of the company’s stock after purchasing an additional 28,055 shares during the quarter. Kestra Advisory Services LLC’s holdings in CareTrust REIT were worth $1,753,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Royal Bank of Canada boosted its holdings in shares of CareTrust REIT by 36.4% during the 1st quarter. Royal Bank of Canada now owns 179,501 shares of the company’s stock worth $5,129,000 after buying an additional 47,936 shares during the period. NewEdge Advisors LLC increased its position in CareTrust REIT by 11.3% during the 1st quarter. NewEdge Advisors LLC now owns 33,628 shares of the company’s stock worth $961,000 after buying an additional 3,408 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in shares of CareTrust REIT by 134.2% during the second quarter. EverSource Wealth Advisors LLC now owns 1,124 shares of the company’s stock worth $34,000 after buying an additional 644 shares in the last quarter. First Trust Advisors LP grew its stake in shares of CareTrust REIT by 67.6% in the second quarter. First Trust Advisors LP now owns 245,154 shares of the company’s stock valued at $7,502,000 after acquiring an additional 98,850 shares in the last quarter. Finally, Cerity Partners LLC grew its stake in shares of CareTrust REIT by 310.1% in the second quarter. Cerity Partners LLC now owns 36,640 shares of the company’s stock valued at $1,121,000 after acquiring an additional 27,706 shares in the last quarter. 87.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on CTRE. Wells Fargo & Company lifted their price objective on shares of CareTrust REIT from $42.00 to $47.00 and gave the stock an “overweight” rating in a research note on Monday, June 1st. Zacks Research raised shares of CareTrust REIT from a “strong sell” rating to a “hold” rating in a report on Monday, May 25th. BMO Capital Markets boosted their price target on CareTrust REIT from $46.00 to $47.00 and gave the company an “outperform” rating in a research note on Monday, June 15th. Weiss Ratings upgraded CareTrust REIT from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Monday, July 6th. Finally, KeyCorp restated an “overweight” rating and set a $46.00 price objective on shares of CareTrust REIT in a research note on Friday, May 29th. Two research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, CareTrust REIT presently has an average rating of “Buy” and an average price target of $44.82.

CareTrust REIT Price Performance

Shares of CTRE stock opened at $42.39 on Tuesday. The company has a quick ratio of 2.37, a current ratio of 2.38 and a debt-to-equity ratio of 0.22. CareTrust REIT, Inc. has a twelve month low of $30.26 and a twelve month high of $43.10. The company has a market cap of $10.01 billion, a P/E ratio of 27.17, a P/E/G ratio of 1.93 and a beta of 0.76. The business has a fifty day simple moving average of $39.95 and a 200 day simple moving average of $39.04.

CareTrust REIT Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were paid 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 3.7%. CareTrust REIT’s dividend payout ratio is presently 100.00%.

CareTrust REIT Profile

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.