Legal & General Group Plc Grows Stock Holdings in CareTrust REIT, Inc. $CTRE

Legal & General Group Plc lifted its position in shares of CareTrust REIT, Inc. (NYSE:CTRE) by 10.6% during the fourth quarter, Holdings Channel reports. The institutional investor owned 1,558,522 shares of the company’s stock after purchasing an additional 149,633 shares during the period. Legal & General Group Plc’s holdings in CareTrust REIT were worth $56,356,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of CTRE. EverSource Wealth Advisors LLC lifted its stake in shares of CareTrust REIT by 134.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,124 shares of the company’s stock valued at $34,000 after buying an additional 644 shares in the last quarter. Heritage Wealth Advisors lifted its stake in shares of CareTrust REIT by 42.9% during the 3rd quarter. Heritage Wealth Advisors now owns 1,000 shares of the company’s stock valued at $35,000 after buying an additional 300 shares in the last quarter. Allworth Financial LP lifted its stake in shares of CareTrust REIT by 114.0% during the 3rd quarter. Allworth Financial LP now owns 1,042 shares of the company’s stock valued at $36,000 after buying an additional 555 shares in the last quarter. Groesbeck Investment Management Corp NJ purchased a new position in shares of CareTrust REIT during the 4th quarter valued at $43,000. Finally, USA Financial Formulas bought a new stake in CareTrust REIT in the 4th quarter valued at $52,000. Hedge funds and other institutional investors own 87.77% of the company’s stock.

CareTrust REIT Stock Performance

CareTrust REIT stock opened at $40.81 on Friday. The company’s 50-day moving average price is $39.39 and its 200-day moving average price is $38.38. CareTrust REIT, Inc. has a twelve month low of $27.81 and a twelve month high of $43.08. The company has a quick ratio of 2.37, a current ratio of 2.38 and a debt-to-equity ratio of 0.22. The company has a market cap of $9.64 billion, a PE ratio of 26.16, a price-to-earnings-growth ratio of 1.87 and a beta of 0.76.

CareTrust REIT Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st were issued a $0.39 dividend. This is a boost from CareTrust REIT’s previous quarterly dividend of $0.34. The ex-dividend date was Tuesday, March 31st. This represents a $1.56 dividend on an annualized basis and a dividend yield of 3.8%. CareTrust REIT’s payout ratio is presently 100.00%.

Wall Street Analyst Weigh In

CTRE has been the topic of a number of research reports. UBS Group lifted their price target on shares of CareTrust REIT from $44.00 to $48.00 and gave the company a “buy” rating in a report on Wednesday, February 18th. Zacks Research upgraded shares of CareTrust REIT from a “strong sell” rating to a “hold” rating in a report on Monday, May 25th. Royal Bank Of Canada lifted their price target on shares of CareTrust REIT from $41.00 to $44.00 and gave the company an “outperform” rating in a report on Tuesday, February 24th. KeyCorp reiterated an “overweight” rating and issued a $46.00 price target on shares of CareTrust REIT in a report on Friday. Finally, Weiss Ratings downgraded shares of CareTrust REIT from a “buy (a)” rating to a “buy (a-)” rating in a report on Tuesday. Three investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $43.64.

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.