Dockside LLC Invests $4.43 Million in CareTrust REIT, Inc. $CTRE

Dockside LLC bought a new stake in shares of CareTrust REIT, Inc. (NYSE:CTRE) in the second quarter, Holdings Channel.com reports. The fund bought 109,766 shares of the company’s stock, valued at approximately $4,429,000. CareTrust REIT accounts for 1.0% of Dockside LLC’s portfolio, making the stock its 23rd largest position.

A number of other hedge funds have also recently made changes to their positions in the stock. Hennion & Walsh Asset Management Inc. increased its stake in CareTrust REIT by 13.2% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 82,083 shares of the company’s stock worth $3,312,000 after buying an additional 9,598 shares during the period. Community Trust & Investment Co. boosted its position in CareTrust REIT by 1.3% in the 2nd quarter. Community Trust & Investment Co. now owns 86,574 shares of the company’s stock valued at $3,493,000 after buying an additional 1,141 shares during the period. Moody National Bank Trust Division boosted its position in CareTrust REIT by 48.2% in the 2nd quarter. Moody National Bank Trust Division now owns 38,097 shares of the company’s stock valued at $1,537,000 after buying an additional 12,391 shares during the period. Pacer Advisors Inc. bought a new position in CareTrust REIT in the 1st quarter worth about $972,000. Finally, Militia Capital Management LLC bought a new position in CareTrust REIT in the 1st quarter worth about $429,000. 87.77% of the stock is currently owned by institutional investors.

CareTrust REIT Trading Down 0.0%

NYSE CTRE opened at $38.81 on Friday. CareTrust REIT, Inc. has a one year low of $32.79 and a one year high of $43.62. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.57 and a current ratio of 0.57. The company has a market capitalization of $9.17 billion, a price-to-earnings ratio of 24.41, a price-to-earnings-growth ratio of 1.75 and a beta of 0.75. The company’s 50-day simple moving average is $40.20 and its two-hundred day simple moving average is $39.60.

CareTrust REIT Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were issued a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 4.0%. The ex-dividend date of this dividend was Tuesday, June 30th. CareTrust REIT’s dividend payout ratio (DPR) is presently 98.11%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on CTRE. Raymond James Financial started coverage on shares of CareTrust REIT in a research report on Tuesday, June 16th. They set an “outperform” rating and a $43.00 target price on the stock. KeyCorp reissued an “overweight” rating and issued a $46.00 price objective on shares of CareTrust REIT in a research note on Friday, May 29th. Citigroup reaffirmed a “market outperform” rating on shares of CareTrust REIT in a research report on Wednesday, June 10th. BMO Capital Markets upped their target price on CareTrust REIT from $46.00 to $47.00 and gave the stock an “outperform” rating in a report on Monday, June 15th. Finally, Mizuho set a $45.00 price target on CareTrust REIT in a research report on Friday, May 22nd. Two research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, CareTrust REIT currently has an average rating of “Moderate Buy” and a consensus price target of $44.82.

About CareTrust REIT

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.