JPMorgan Chase & Co. Lowers Position in CareTrust REIT, Inc. (NASDAQ:CTRE)

JPMorgan Chase & Co. reduced its stake in shares of CareTrust REIT, Inc. (NASDAQ:CTRE) by 21.9% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 185,835 shares of the real estate investment trust’s stock after selling 52,048 shares during the period. JPMorgan Chase & Co. owned approximately 0.26% of CareTrust REIT worth $3,126,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of CTRE. State of Alaska Department of Revenue boosted its position in CareTrust REIT by 4.6% in the first quarter. State of Alaska Department of Revenue now owns 7,310 shares of the real estate investment trust’s stock valued at $122,000 after buying an additional 320 shares in the last quarter. Metropolitan Life Insurance Co. NY boosted its position in CareTrust REIT by 1.1% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 44,921 shares of the real estate investment trust’s stock valued at $688,000 after buying an additional 479 shares in the last quarter. Strs Ohio boosted its position in CareTrust REIT by 0.6% in the first quarter. Strs Ohio now owns 115,294 shares of the real estate investment trust’s stock valued at $1,939,000 after buying an additional 686 shares in the last quarter. Texas Permanent School Fund boosted its position in CareTrust REIT by 2.1% in the first quarter. Texas Permanent School Fund now owns 47,942 shares of the real estate investment trust’s stock valued at $806,000 after buying an additional 969 shares in the last quarter. Finally, Louisiana State Employees Retirement System increased its stake in shares of CareTrust REIT by 4.3% in the first quarter. Louisiana State Employees Retirement System now owns 26,978 shares of the real estate investment trust’s stock valued at $454,000 after buying an additional 1,100 shares during the period. 86.69% of the stock is currently owned by institutional investors.

Shares of CareTrust REIT, Inc. (NASDAQ:CTRE) opened at 18.03 on Wednesday. CareTrust REIT, Inc. has a one year low of $12.70 and a one year high of $19.86.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 14th. Investors of record on Friday, June 30th will be issued a dividend of $0.185 per share. The ex-dividend date is Wednesday, June 28th. This represents a $0.74 dividend on an annualized basis and a dividend yield of 4.10%.

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Several brokerages have issued reports on CTRE. BidaskClub downgraded shares of CareTrust REIT from a “strong-buy” rating to a “buy” rating in a research note on Saturday. BMO Capital Markets downgraded shares of CareTrust REIT from an “outperform” rating to a “market perform” rating and boosted their target price for the company from $18.00 to $20.00 in a research note on Tuesday, June 20th. Canaccord Genuity boosted their target price on shares of CareTrust REIT from $18.00 to $19.00 and gave the company a “buy” rating in a research note on Thursday, March 30th. TheStreet raised shares of CareTrust REIT from a “c” rating to a “b” rating in a research note on Friday, May 5th. Finally, Zacks Investment Research raised shares of CareTrust REIT from a “sell” rating to a “hold” rating in a research note on Thursday, May 4th. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. CareTrust REIT currently has a consensus rating of “Buy” and a consensus target price 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.

Institutional Ownership by Quarter for CareTrust REIT (NASDAQ:CTRE)

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