Goldman Sachs Group Inc. increased its stake in CareTrust REIT, Inc. (NASDAQ:CTRE) by 571.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,381,640 shares of the real estate investment trust’s stock after buying an additional 1,175,847 shares during the period. Goldman Sachs Group Inc. owned 1.90% of CareTrust REIT worth $23,240,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently modified their holdings of CTRE. Driehaus Capital Management LLC increased its position in shares of CareTrust REIT by 7.2% in the first quarter. Driehaus Capital Management LLC now owns 764,647 shares of the real estate investment trust’s stock valued at $12,861,000 after buying an additional 51,052 shares in the last quarter. State Street Corp increased its position in shares of CareTrust REIT by 11.8% in the first quarter. State Street Corp now owns 1,743,435 shares of the real estate investment trust’s stock valued at $29,323,000 after buying an additional 184,451 shares in the last quarter. Bank of America Corp DE increased its position in shares of CareTrust REIT by 191.4% in the first quarter. Bank of America Corp DE now owns 765,382 shares of the real estate investment trust’s stock valued at $12,873,000 after buying an additional 502,765 shares in the last quarter. Oppenheimer Asset Management Inc. bought a new position in shares of CareTrust REIT during the first quarter valued at approximately $185,000. Finally, Schwab Charles Investment Management Inc. increased its position in shares of CareTrust REIT by 53.2% in the first quarter. Schwab Charles Investment Management Inc. now owns 375,938 shares of the real estate investment trust’s stock valued at $6,324,000 after buying an additional 130,535 shares in the last quarter. Institutional investors and hedge funds own 86.69% of the company’s stock.
Shares of CareTrust REIT, Inc. (NASDAQ CTRE) opened at 18.03 on Wednesday. CareTrust REIT, Inc. has a 12 month low of $12.70 and a 12 month high of $19.86.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 14th. Stockholders of record on Friday, June 30th will be paid a $0.185 dividend. This represents a $0.74 annualized dividend and a dividend yield of 4.10%. The ex-dividend date is Wednesday, June 28th.
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Several brokerages have commented on CTRE. BidaskClub downgraded CareTrust REIT from a “strong-buy” rating to a “buy” rating in a research note on Saturday. BMO Capital Markets downgraded CareTrust REIT from an “outperform” rating to a “market perform” rating and raised their target price for the stock from $18.00 to $20.00 in a research note on Tuesday, June 20th. Raymond James Financial, Inc. restated an “outperform” rating and issued a $19.00 target price (up previously from $17.00) on shares of CareTrust REIT in a research note on Wednesday, May 17th. Zacks Investment Research upgraded CareTrust REIT from a “hold” rating to a “buy” rating and set a $20.00 target price for the company in a research note on Tuesday, May 16th. Finally, TheStreet upgraded CareTrust REIT from a “c” rating to a “b” rating in a research note on Friday, May 5th. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $18.00.
About CareTrust REIT
CareTrust REIT, Inc is a self-administered, self-managed real estate investment trust. The Company is engaged in the ownership, acquisition and leasing of healthcare-related properties. It makes investments in healthcare-related real estate assets. As of December 31, 2016, its real estate portfolio included 154 skilled nursing facilities (SNFs), SNF Campuses, assisted living facilities and independent living facilities.
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