Nuveen Asset Management LLC purchased a new stake in Caretrust REIT Inc (NASDAQ:CTRE) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 53,175 shares of the real estate investment trust’s stock, valued at approximately $713,000. Nuveen Asset Management LLC owned approximately 0.07% of Caretrust REIT as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds have also made changes to their positions in CTRE. SG Americas Securities LLC increased its holdings in Caretrust REIT by 83.6% during the first quarter. SG Americas Securities LLC now owns 12,555 shares of the real estate investment trust’s stock worth $168,000 after buying an additional 5,716 shares during the last quarter. Xact Kapitalforvaltning AB bought a new stake in Caretrust REIT during the fourth quarter worth about $175,000. Ellington Management Group LLC bought a new position in shares of Caretrust REIT in the fourth quarter worth about $183,000. Ramsey Quantitative Systems bought a new position in shares of Caretrust REIT in the fourth quarter worth about $215,000. Finally, Sterling Capital Management LLC bought a new position in shares of Caretrust REIT in the fourth quarter worth about $248,000. 89.51% of the stock is currently owned by institutional investors and hedge funds.
Shares of Caretrust REIT traded down $0.13, reaching $16.82, during midday trading on Thursday, Marketbeat Ratings reports. 6,518 shares of the company’s stock traded hands, compared to its average volume of 683,646. The company has a market cap of $1.30 billion, a P/E ratio of 14.61, a PEG ratio of 2.62 and a beta of 0.79. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.34 and a quick ratio of 1.34. Caretrust REIT Inc has a one year low of $12.73 and a one year high of $19.82.
The business also recently declared a quarterly dividend, which will be paid on Friday, July 13th. Shareholders of record on Friday, June 29th will be given a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a yield of 4.88%. The ex-dividend date of this dividend is Thursday, June 28th. Caretrust REIT’s payout ratio is 70.69%.
A number of analysts have weighed in on the stock. TheStreet raised shares of Caretrust REIT from a “c+” rating to a “b-” rating in a research report on Friday, May 25th. BMO Capital Markets reaffirmed a “hold” rating and set a $15.00 price objective on shares of Caretrust REIT in a research report on Tuesday, March 27th. BidaskClub upgraded Caretrust REIT from a “strong sell” rating to a “sell” rating in a report on Wednesday, May 2nd. Cantor Fitzgerald started coverage on Caretrust REIT in a research note on Monday, March 5th. They set an “overweight” rating and a $16.00 price objective on the stock. Finally, Royal Bank of Canada reaffirmed a “hold” rating and set a $15.00 target price on shares of Caretrust REIT in a research report on Tuesday, March 6th. Six research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Caretrust REIT currently has an average rating of “Hold” and a consensus target price of $17.78.
About Caretrust REIT
CareTrust REIT, Inc is a self-administered, publicly-traded real estate investment trust engaged in the ownership, acquisition and leasing of seniors housing and healthcare-related properties. With 186 net leased healthcare properties and three operated seniors housing properties in 24 states, CareTrust is pursuing opportunities across the nation to acquire properties that will be leased to a diverse group of local, regional and national seniors housing operators, healthcare services providers, and other healthcare-related businesses.
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