Maryland State Retirement & Pension System Raises Stock Position in CareTrust REIT, Inc. (NASDAQ:CTRE)

Maryland State Retirement & Pension System lifted its stake in CareTrust REIT, Inc. (NASDAQ:CTRE) by 18.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 43,290 shares of the real estate investment trust’s stock after buying an additional 6,650 shares during the period. Maryland State Retirement & Pension System’s holdings in CareTrust REIT were worth $969,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Global Retirement Partners LLC increased its position in shares of CareTrust REIT by 113.9% during the fourth quarter. Global Retirement Partners LLC now owns 1,388 shares of the real estate investment trust’s stock worth $31,000 after purchasing an additional 739 shares in the last quarter. ORG Partners LLC acquired a new stake in shares of CareTrust REIT in the third quarter valued at approximately $31,000. AlphaMark Advisors LLC grew its position in shares of CareTrust REIT by 245.2% during the fourth quarter. AlphaMark Advisors LLC now owns 3,625 shares of the real estate investment trust’s stock worth $81,000 after acquiring an additional 2,575 shares during the last quarter. Ninepoint Partners LP acquired a new position in shares of CareTrust REIT in the 3rd quarter valued at $113,000. Finally, M&T Bank Corp purchased a new stake in CareTrust REIT in the 4th quarter valued at $236,000. 87.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. KeyCorp lifted their price objective on shares of CareTrust REIT from $25.00 to $27.00 and gave the company an “overweight” rating in a research note on Thursday. Deutsche Bank Aktiengesellschaft started coverage on CareTrust REIT in a research note on Tuesday, January 30th. They issued a “hold” rating and a $23.00 target price on the stock. Finally, Royal Bank of Canada lowered their price objective on shares of CareTrust REIT from $25.00 to $24.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 31st. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $23.86.

CareTrust REIT Stock Down 1.1 %

CTRE stock opened at $24.55 on Friday. The company has a current ratio of 12.80, a quick ratio of 12.80 and a debt-to-equity ratio of 0.36. The company’s 50-day moving average price is $24.03 and its 200 day moving average price is $22.86. CareTrust REIT, Inc. has a 52 week low of $18.18 and a 52 week high of $26.43. The company has a market cap of $3.49 billion, a P/E ratio of 47.21 and a beta of 1.03.

CareTrust REIT Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were given a $0.29 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 4.73%. This is a boost from CareTrust REIT’s previous quarterly dividend of $0.28. CareTrust REIT’s dividend payout ratio (DPR) is currently 223.08%.

CareTrust REIT Company Profile

CareTrust REIT, Inc is a self-administered, publicly-traded real estate investment trust engaged in the ownership, acquisition, development and leasing of skilled nursing, seniors housing and other healthcare-related properties. With a nationwide portfolio of long-term net-leased properties, and a growing portfolio of quality operators leasing them, CareTrust REIT is pursuing both external and organic growth opportunities across the United States.