Strs Ohio Buys 49,900 Shares of CareTrust REIT, Inc. $CTRE

Strs Ohio boosted its position in shares of CareTrust REIT, Inc. (NYSE:CTRE) by 125.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 89,600 shares of the company’s stock after acquiring an additional 49,900 shares during the period. Strs Ohio’s holdings in CareTrust REIT were worth $3,284,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. increased its holdings in shares of CareTrust REIT by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 33,184,181 shares of the company’s stock worth $1,199,940,000 after buying an additional 210,965 shares during the last quarter. State Street Corp raised its position in shares of CareTrust REIT by 1.8% during the 4th quarter. State Street Corp now owns 12,426,213 shares of the company’s stock valued at $453,411,000 after buying an additional 219,641 shares in the last quarter. Wellington Management Group LLP lifted its holdings in shares of CareTrust REIT by 18.1% during the 4th quarter. Wellington Management Group LLP now owns 12,355,966 shares of the company’s stock worth $446,792,000 after acquiring an additional 1,893,143 shares during the last quarter. T. Rowe Price Investment Management Inc. grew its position in CareTrust REIT by 108.5% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 6,493,898 shares of the company’s stock worth $234,820,000 after acquiring an additional 3,379,732 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in CareTrust REIT by 7.2% in the fourth quarter. Geode Capital Management LLC now owns 6,092,398 shares of the company’s stock worth $220,332,000 after acquiring an additional 409,411 shares in the last quarter. 87.77% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CTRE has been the topic of a number of recent research reports. Zacks Research upgraded shares of CareTrust REIT from a “strong sell” rating to a “hold” rating in a research report on Monday, May 25th. BMO Capital Markets boosted their target price on CareTrust REIT from $46.00 to $47.00 and gave the company an “outperform” rating in a research note on Monday, June 15th. KeyCorp reissued an “overweight” rating and set a $46.00 price target on shares of CareTrust REIT in a research report on Friday, May 29th. Raymond James Financial began coverage on CareTrust REIT in a research report on Tuesday, June 16th. They issued an “outperform” rating and a $43.00 price objective on the stock. Finally, Weiss Ratings cut shares of CareTrust REIT from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Thursday, June 11th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, CareTrust REIT currently has an average rating of “Moderate Buy” and an average target price of $44.82.

CareTrust REIT Stock Performance

Shares of NYSE:CTRE traded up $0.60 during midday trading on Tuesday, reaching $41.99. 101,569 shares of the company’s stock traded hands, compared to its average volume of 2,656,190. The company has a market cap of $9.92 billion, a price-to-earnings ratio of 26.89, a P/E/G ratio of 1.88 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 one year low of $30.21 and a one year high of $43.08. The stock has a 50 day moving average of $39.61 and a 200 day moving average of $38.72.

CareTrust REIT Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be given a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date is Tuesday, June 30th. CareTrust REIT’s dividend payout ratio is 100.00%.

CareTrust REIT Company 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.