Trust Co. of Toledo NA OH Boosts Position in CareTrust REIT, Inc. (NASDAQ:CTRE)

Trust Co. of Toledo NA OH grew its holdings in CareTrust REIT, Inc. (NASDAQ:CTRE) by 26.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 32,318 shares of the real estate investment trust’s stock after acquiring an additional 6,683 shares during the period. Trust Co. of Toledo NA OH’s holdings in CareTrust REIT were worth $811,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Global Retirement Partners LLC grew its stake in shares of CareTrust REIT by 113.9% during the 4th 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 during the period. GAMMA Investing LLC increased its holdings in CareTrust REIT by 187.7% in the second quarter. GAMMA Investing LLC now owns 1,752 shares of the real estate investment trust’s stock valued at $44,000 after buying an additional 1,143 shares in the last quarter. USA Financial Formulas acquired a new position in shares of CareTrust REIT in the fourth quarter worth about $67,000. Covestor Ltd boosted its stake in shares of CareTrust REIT by 114,366.7% during the 1st quarter. Covestor Ltd now owns 6,868 shares of the real estate investment trust’s stock worth $167,000 after acquiring an additional 6,862 shares in the last quarter. Finally, Virtu Financial LLC acquired a new stake in shares of CareTrust REIT during the 1st quarter valued at about $200,000. Institutional investors and hedge funds own 87.77% of the company’s stock.

CareTrust REIT Stock Up 1.7 %

Shares of CTRE traded up $0.46 during midday trading on Tuesday, reaching $27.34. The stock had a trading volume of 2,541,776 shares, compared to its average volume of 1,370,012. The company has a market cap of $3.88 billion, a price-to-earnings ratio of 52.58 and a beta of 1.09. The company’s fifty day simple moving average is $25.91 and its two-hundred day simple moving average is $24.38. CareTrust REIT, Inc. has a 1-year low of $19.43 and a 1-year high of $27.94. The company has a debt-to-equity ratio of 0.36, a current ratio of 12.80 and a quick ratio of 12.80.

CareTrust REIT (NASDAQ:CTRE) last posted its earnings results on Thursday, August 1st. The real estate investment trust reported $0.07 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.29). CareTrust REIT had a return on equity of 5.31% and a net margin of 30.09%. The business had revenue of $68.89 million for the quarter, compared to analysts’ expectations of $66.36 million. During the same quarter in the previous year, the firm earned $0.35 EPS. Equities research analysts expect that CareTrust REIT, Inc. will post 1.47 earnings per share for the current year.

CareTrust REIT Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Friday, June 28th were given a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 4.24%. The ex-dividend date of this dividend was Friday, June 28th. CareTrust REIT’s payout ratio is currently 223.08%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on CTRE shares. Wedbush assumed coverage on shares of CareTrust REIT in a research note on Wednesday, May 29th. They set a “neutral” rating and a $26.00 target price on the stock. KeyCorp upped 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, May 9th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of CareTrust REIT from $23.00 to $27.00 and gave the company a “hold” rating in a report on Monday, July 1st. Finally, Wells Fargo & Company boosted their target price on CareTrust REIT from $24.00 to $26.00 and gave the stock an “equal weight” rating in a report on Thursday, May 30th. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $25.29.

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.