Lightrock Netherlands B.V. Sells 34,500 Shares of CareTrust REIT, Inc. $CTRE

Lightrock Netherlands B.V. decreased its stake in shares of CareTrust REIT, Inc. (NASDAQ:CTRE) by 16.7% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 172,105 shares of the real estate investment trust’s stock after selling 34,500 shares during the period. Lightrock Netherlands B.V.’s holdings in CareTrust REIT were worth $5,969,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Invesco Ltd. boosted its position in CareTrust REIT by 201.8% during the second quarter. Invesco Ltd. now owns 3,772,350 shares of the real estate investment trust’s stock worth $115,434,000 after purchasing an additional 2,522,260 shares during the period. Daiwa Securities Group Inc. lifted its holdings in shares of CareTrust REIT by 2,245.5% during the second quarter. Daiwa Securities Group Inc. now owns 1,510,264 shares of the real estate investment trust’s stock worth $46,214,000 after buying an additional 1,445,873 shares during the last quarter. Copeland Capital Management LLC grew its stake in shares of CareTrust REIT by 350.9% in the third quarter. Copeland Capital Management LLC now owns 1,716,101 shares of the real estate investment trust’s stock worth $59,514,000 after acquiring an additional 1,335,513 shares during the last quarter. Adage Capital Partners GP L.L.C. bought a new position in CareTrust REIT during the second quarter worth $22,491,000. Finally, Bank of America Corp DE raised its stake in CareTrust REIT by 96.3% during the 2nd quarter. Bank of America Corp DE now owns 896,561 shares of the real estate investment trust’s stock valued at $27,435,000 after purchasing an additional 439,883 shares during the last quarter. 87.77% of the stock is currently owned by institutional investors and hedge funds.

CareTrust REIT Stock Performance

NASDAQ CTRE opened at $36.78 on Friday. CareTrust REIT, Inc. has a twelve month low of $24.79 and a twelve month high of $38.32. The company has a quick ratio of 3.82, a current ratio of 3.82 and a debt-to-equity ratio of 0.14. The stock has a market cap of $8.21 billion, a P/E ratio of 46.56, a PEG ratio of 1.25 and a beta of 0.75. The company’s 50-day simple moving average is $36.92 and its 200 day simple moving average is $34.84.

CareTrust REIT Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st were paid a $0.335 dividend. This represents a $1.34 annualized dividend and a dividend yield of 3.6%. The ex-dividend date was Wednesday, December 31st. CareTrust REIT’s dividend payout ratio is currently 100.00%.

Analysts Set New Price Targets

Several research firms have issued reports on CTRE. Cantor Fitzgerald initiated coverage on shares of CareTrust REIT in a research report on Wednesday, October 1st. They issued a “neutral” rating and a $37.00 price target on the stock. Royal Bank Of Canada increased their target price on shares of CareTrust REIT from $36.00 to $41.00 and gave the company an “outperform” rating in a research note on Monday, November 10th. Wells Fargo & Company boosted their price target on CareTrust REIT from $38.00 to $41.00 and gave the company an “overweight” rating in a research note on Tuesday, November 25th. Citigroup assumed coverage on CareTrust REIT in a report on Thursday. They issued a “market outperform” rating for the company. Finally, Jefferies Financial Group raised their price objective on CareTrust REIT from $41.00 to $43.00 and gave the stock a “buy” rating in a research report on Monday, December 15th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $39.00.

CareTrust REIT Profile

CareTrust REIT, Inc is a healthcare-focused real estate investment trust that acquires and manages net-leased properties serving the senior housing and medical markets. The company’s portfolio spans skilled nursing facilities, assisted living communities, independent living properties, medical office buildings and life science facilities. By structuring leases on a triple-net basis, CareTrust REIT offers long-term, stable rental income streams while allowing its tenants to operate and maintain their specialized healthcare facilities.

The company’s assets are geographically diversified across the United States, with a concentration in regions experiencing aging demographics and growing demand for senior care services.