First Trust Advisors LP raised its position in shares of CareTrust REIT Inc. (NASDAQ:CTRE) by 50.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 22,997 shares of the real estate investment trust’s stock after buying an additional 7,727 shares during the period. First Trust Advisors LP’s holdings in CareTrust REIT were worth $317,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Heitman Real Estate Securities LLC acquired a new position in CareTrust REIT during the first quarter worth approximately $37,665,000. American Century Companies Inc. raised its position in CareTrust REIT by 702.6% in the second quarter. American Century Companies Inc. now owns 745,674 shares of the real estate investment trust’s stock worth $10,275,000 after buying an additional 652,772 shares in the last quarter. Emerald Mutual Fund Advisers Trust raised its position in CareTrust REIT by 186.9% in the second quarter. Emerald Mutual Fund Advisers Trust now owns 918,235 shares of the real estate investment trust’s stock worth $12,653,000 after buying an additional 598,205 shares in the last quarter. Emerald Advisers Inc. PA raised its position in CareTrust REIT by 186.5% in the second quarter. Emerald Advisers Inc. PA now owns 870,307 shares of the real estate investment trust’s stock worth $11,993,000 after buying an additional 566,567 shares in the last quarter. Finally, BlackRock Institutional Trust Company N.A. raised its position in CareTrust REIT by 28.4% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,978,764 shares of the real estate investment trust’s stock worth $25,130,000 after buying an additional 437,914 shares in the last quarter. Institutional investors own 82.52% of the company’s stock.
CareTrust REIT Inc. (NASDAQ:CTRE) traded down 0.07% during mid-day trading on Friday, reaching $14.04. 238,493 shares of the company were exchanged. The company’s 50 day moving average price is $14.64 and its 200-day moving average price is $13.92. The stock has a market capitalization of $812.85 million, a P/E ratio of 36.47 and a beta of 0.94. CareTrust REIT Inc. has a 12 month low of $9.12 and a 12 month high of $15.88.
CareTrust REIT (NASDAQ:CTRE) last posted its quarterly earnings data on Monday, August 8th. The real estate investment trust reported $0.27 EPS for the quarter, beating the Zacks’ consensus estimate of $0.26 by $0.01. CareTrust REIT had a net margin of 20.97% and a return on equity of 6.02%. The firm had revenue of $25.70 million for the quarter, compared to the consensus estimate of $23.68 million. During the same period in the prior year, the firm posted $0.25 EPS. The firm’s revenue was up 47.9% compared to the same quarter last year. On average, equities analysts expect that CareTrust REIT Inc. will post $1.10 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, October 14th. Shareholders of record on Friday, September 30th were paid a dividend of $0.17 per share. The ex-dividend date of this dividend was Wednesday, September 28th. This represents a $0.68 dividend on an annualized basis and a yield of 4.84%. CareTrust REIT’s dividend payout ratio (DPR) is 44.44%.
CTRE has been the topic of a number of recent research reports. Stephens initiated coverage on shares of CareTrust REIT in a research note on Wednesday, September 14th. They issued an “overweight” rating and a $16.00 price objective on the stock. Canaccord Genuity restated a “buy” rating and issued a $18.00 price objective on shares of CareTrust REIT in a research note on Thursday, September 8th. Zacks Investment Research upgraded shares of CareTrust REIT from a “hold” rating to a “buy” rating and set a $17.00 price objective on the stock in a research note on Wednesday, August 10th. Wells Fargo & Co. initiated coverage on shares of CareTrust REIT in a report on Tuesday, July 26th. They issued a “market perform” rating on the stock. Finally, Barclays PLC initiated coverage on shares of CareTrust REIT in a report on Monday, August 22nd. They issued an “equal weight” rating and a $16.00 target price on the stock. Three analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $15.75.
CareTrust REIT Company Profile
CareTrust REIT, Inc is a self-administered, self-managed real estate investment trust (REIT). The Company is primarily engaged in the ownership, acquisition and leasing of healthcare-related properties. The Company’s segment consists of investments in healthcare-related real estate assets. The Company’s real estate portfolio includes approximately 120 skilled nursing facilities (SNFs), assisted living facilities (ALFs) and independent living facilities (ILFs).
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