Moran Wealth Management LLC Decreases Stock Holdings in CareTrust REIT, Inc. $CTRE

Moran Wealth Management LLC reduced its position in shares of CareTrust REIT, Inc. (NYSE:CTRE) by 40.0% in the first quarter, according to its most recent filing with the SEC. The fund owned 32,523 shares of the company’s stock after selling 21,679 shares during the quarter. Moran Wealth Management LLC’s holdings in CareTrust REIT were worth $1,192,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. D.A. Davidson & CO. increased its position in CareTrust REIT by 0.7% in the fourth quarter. D.A. Davidson & CO. now owns 40,781 shares of the company’s stock worth $1,475,000 after purchasing an additional 282 shares during the last quarter. Swiss Life Asset Management Ltd raised its stake in CareTrust REIT by 2.9% during the fourth quarter. Swiss Life Asset Management Ltd now owns 10,309 shares of the company’s stock valued at $373,000 after purchasing an additional 291 shares in the last quarter. Kestra Private Wealth Services LLC lifted its position in CareTrust REIT by 1.1% during the first quarter. Kestra Private Wealth Services LLC now owns 27,684 shares of the company’s stock valued at $1,015,000 after purchasing an additional 297 shares during the last quarter. Tocqueville Asset Management L.P. lifted its position in CareTrust REIT by 2.8% during the third quarter. Tocqueville Asset Management L.P. now owns 10,900 shares of the company’s stock valued at $378,000 after purchasing an additional 300 shares during the last quarter. Finally, UMB Bank n.a. grew its stake in shares of CareTrust REIT by 25.3% in the 4th quarter. UMB Bank n.a. now owns 1,525 shares of the company’s stock worth $55,000 after buying an additional 308 shares in the last quarter. 87.77% of the stock is owned by hedge funds and other institutional investors.

CareTrust REIT Trading Up 1.8%

Shares of CTRE traded up $0.76 during midday trading on Tuesday, hitting $42.15. The stock had a trading volume of 165,334 shares, compared to its average volume of 2,656,725. CareTrust REIT, Inc. has a 1 year low of $30.21 and a 1 year high of $43.08. The firm has a market cap of $9.96 billion, a PE ratio of 27.02, a price-to-earnings-growth ratio of 1.88 and a beta of 0.76. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.38 and a quick ratio of 2.37. The stock’s 50 day moving average is $39.61 and its 200 day moving average is $38.72.

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 annualized dividend and a yield of 3.7%. The ex-dividend date is Tuesday, June 30th. CareTrust REIT’s dividend payout ratio is presently 100.00%.

Analysts Set New Price Targets

CTRE has been the topic of several recent research reports. Mizuho set a $45.00 target price on shares of CareTrust REIT in a research report on Friday, May 22nd. Wells Fargo & Company boosted their price objective on CareTrust REIT from $42.00 to $47.00 and gave the stock an “overweight” rating in a research note on Monday, June 1st. KeyCorp reissued an “overweight” rating and set a $46.00 price objective on shares of CareTrust REIT in a research note on Friday, May 29th. Zacks Research upgraded CareTrust REIT from a “strong sell” rating to a “hold” rating in a research report on Monday, May 25th. Finally, BMO Capital Markets lifted their target price on CareTrust REIT from $46.00 to $47.00 and gave the stock an “outperform” rating in a report on Monday, June 15th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $44.82.

CareTrust REIT Profile

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.