Cohen & Steers Inc. Sells 1,774,852 Shares of CareTrust REIT, Inc. $CTRE

Cohen & Steers Inc. lowered its holdings in shares of CareTrust REIT, Inc. (NYSE:CTRE) by 9.7% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 16,476,922 shares of the company’s stock after selling 1,774,852 shares during the period. CareTrust REIT comprises 1.1% of Cohen & Steers Inc.’s holdings, making the stock its 26th largest holding. Cohen & Steers Inc. owned about 7.38% of CareTrust REIT worth $595,881,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Heritage Wealth Advisors increased its stake in CareTrust REIT by 42.9% in the third quarter. Heritage Wealth Advisors now owns 1,000 shares of the company’s stock valued at $35,000 after purchasing an additional 300 shares in the last quarter. Allworth Financial LP increased its stake in CareTrust REIT by 114.0% in the third quarter. Allworth Financial LP now owns 1,042 shares of the company’s stock valued at $36,000 after purchasing an additional 555 shares in the last quarter. EverSource Wealth Advisors LLC increased its stake in CareTrust REIT by 134.2% in the second quarter. EverSource Wealth Advisors LLC now owns 1,124 shares of the company’s stock valued at $34,000 after purchasing an additional 644 shares in the last quarter. Eurizon Capital SGR S.p.A. bought a new stake in CareTrust REIT in the fourth quarter valued at $44,000. Finally, Groesbeck Investment Management Corp NJ bought a new stake in CareTrust REIT in the fourth quarter valued at $43,000. Institutional investors own 87.77% of the company’s stock.

CareTrust REIT Stock Performance

Shares of CTRE stock opened at $36.76 on Friday. The firm has a market cap of $8.68 billion, a price-to-earnings ratio of 23.56, a P/E/G ratio of 1.66 and a beta of 0.76. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.37 and a current ratio of 2.38. CareTrust REIT, Inc. has a 52 week low of $27.81 and a 52 week high of $43.08. The firm’s 50-day simple moving average is $39.48 and its two-hundred day simple moving average is $38.48.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on CTRE. Zacks Research upgraded shares of CareTrust REIT from a “strong sell” rating to a “hold” rating in a report on Monday, May 25th. UBS Group lifted their price objective 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. KeyCorp reiterated an “overweight” rating and set a $46.00 price objective on shares of CareTrust REIT in a report on Friday, May 29th. Wells Fargo & Company lifted their price objective on shares of CareTrust REIT from $42.00 to $47.00 and gave the company an “overweight” rating in a report on Monday, June 1st. Finally, Royal Bank Of Canada lifted their price objective 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. Two 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. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $44.09.

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.