First Trust Advisors LP Acquires 223,799 Shares of CareTrust REIT, Inc. $CTRE

First Trust Advisors LP increased its holdings in CareTrust REIT, Inc. (NYSE:CTRE) by 69.0% in the first quarter, Holdings Channel.com reports. The firm owned 547,997 shares of the company’s stock after acquiring an additional 223,799 shares during the period. First Trust Advisors LP’s holdings in CareTrust REIT were worth $20,084,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the business. Kemnay Advisory Services Inc. purchased a new stake in CareTrust REIT during the fourth quarter valued at about $27,000. Transamerica Financial Advisors LLC grew its stake in shares of CareTrust REIT by 520.0% during the fourth quarter. Transamerica Financial Advisors LLC now owns 868 shares of the company’s stock valued at $32,000 after buying an additional 728 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings in shares of CareTrust REIT by 134.2% in 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 during the period. Allworth Financial LP increased its holdings in shares of CareTrust REIT by 114.0% in the third quarter. Allworth Financial LP now owns 1,042 shares of the company’s stock worth $36,000 after buying an additional 555 shares during the period. Finally, Mcguire Capital Advisors Inc. bought a new stake in shares of CareTrust REIT in the 4th quarter valued at about $40,000. Hedge funds and other institutional investors own 87.77% of the company’s stock.

Analyst Ratings Changes

CTRE has been the subject of several analyst reports. Zacks Research upgraded CareTrust REIT from a “strong sell” rating to a “hold” rating in a report on Monday, May 25th. KeyCorp reaffirmed an “overweight” rating and issued a $46.00 price target on shares of CareTrust REIT in a research note on Friday, May 29th. Wells Fargo & Company boosted their price objective on CareTrust REIT from $42.00 to $47.00 and gave the company an “overweight” rating in a research report on Monday, June 1st. Citigroup reissued a “market outperform” rating on shares of CareTrust REIT in a research note on Wednesday, June 10th. Finally, Weiss Ratings cut shares of CareTrust REIT from a “buy (a-)” rating to a “buy (b+)” rating in a report on Tuesday, July 21st. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $44.82.

CareTrust REIT Price Performance

CTRE stock opened at $42.31 on Thursday. The stock has a market capitalization of $10.00 billion, a price-to-earnings ratio of 27.12, a PEG ratio of 1.92 and a beta of 0.76. The firm’s 50-day moving average price is $40.11 and its two-hundred day moving average price is $39.35. The company has a current ratio of 2.38, a quick ratio of 2.37 and a debt-to-equity ratio of 0.22. CareTrust REIT, Inc. has a 12-month low of $31.18 and a 12-month high of $43.62.

CareTrust REIT Announces Dividend

The firm also recently announced 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 dividend yield of 3.7%. CareTrust REIT’s dividend payout ratio (DPR) is presently 100.00%.

CareTrust REIT Company 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.