Ibex Wealth Advisors Increases Holdings in CareTrust REIT, Inc. $CTRE

Ibex Wealth Advisors increased its position in CareTrust REIT, Inc. (NYSE:CTRE) by 7.6% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 251,393 shares of the company’s stock after buying an additional 17,831 shares during the quarter. Ibex Wealth Advisors’ holdings in CareTrust REIT were worth $9,214,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of CTRE. Kestra Advisory Services LLC grew its position in CareTrust REIT by 141.9% during the first quarter. Kestra Advisory Services LLC now owns 47,832 shares of the company’s stock valued at $1,753,000 after acquiring an additional 28,055 shares during the last quarter. Resona Asset Management Co. Ltd. lifted its holdings in shares of CareTrust REIT by 4.0% in the 1st quarter. Resona Asset Management Co. Ltd. now owns 135,768 shares of the company’s stock worth $4,976,000 after acquiring an additional 5,255 shares during the last quarter. Seelaus Asset Management LLC lifted its holdings in shares of CareTrust REIT by 5.2% in the 1st quarter. Seelaus Asset Management LLC now owns 20,672 shares of the company’s stock worth $758,000 after acquiring an additional 1,015 shares during the last quarter. Greenwood Capital Associates LLC purchased a new stake in shares of CareTrust REIT in the 1st quarter valued at $256,000. Finally, Impact Investors Inc boosted its stake in shares of CareTrust REIT by 28.7% in the 1st quarter. Impact Investors Inc now owns 8,924 shares of the company’s stock valued at $327,000 after purchasing an additional 1,988 shares in the last quarter. Hedge funds and other institutional investors own 87.77% of the company’s stock.

Wall Street Analysts Forecast Growth

CTRE has been the topic of several recent research reports. Weiss Ratings raised shares of CareTrust REIT from a “buy (b+)” rating to a “buy (a-)” rating in a report on Monday. Raymond James Financial initiated coverage on shares of CareTrust REIT in a research note on Tuesday, June 16th. They issued an “outperform” rating and a $43.00 price target for the company. Zacks Research upgraded shares of CareTrust REIT from a “strong sell” rating to a “hold” rating in a research report on Monday, May 25th. Wells Fargo & Company raised their price objective on CareTrust REIT from $42.00 to $47.00 and gave the company an “overweight” rating in a research note on Monday, June 1st. Finally, Citigroup reiterated a “market outperform” rating on shares of CareTrust REIT in a report on Wednesday, June 10th. Two research 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’s stock. According to data from MarketBeat.com, CareTrust REIT presently has a consensus rating of “Buy” and a consensus target price of $44.82.

CareTrust REIT Stock Performance

NYSE:CTRE opened at $40.88 on Friday. 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 fifty-two week low of $30.21 and a fifty-two week high of $43.08. The firm has a market cap of $9.66 billion, a PE ratio of 26.20, a price-to-earnings-growth ratio of 1.86 and a beta of 0.76. The business has a 50 day moving average price of $39.76 and a 200-day moving average price of $38.82.

CareTrust REIT Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be issued a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date is Tuesday, June 30th. CareTrust REIT’s dividend payout ratio is currently 100.00%.

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.