276,651 Shares in CareTrust REIT, Inc. $CTRE Acquired by Flatrock Wealth Partners LLC

Flatrock Wealth Partners LLC bought a new position in shares of CareTrust REIT, Inc. (NYSE:CTRE) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 276,651 shares of the company’s stock, valued at approximately $10,247,000. CareTrust REIT accounts for 4.6% of Flatrock Wealth Partners LLC’s portfolio, making the stock its 5th largest holding.

Other hedge funds have also modified their holdings of the company. Kemnay Advisory Services Inc. purchased a new stake in shares of CareTrust REIT in the fourth quarter worth $27,000. Transamerica Financial Advisors LLC lifted its stake in shares of CareTrust REIT by 520.0% during the 4th quarter. Transamerica Financial Advisors LLC now owns 868 shares of the company’s stock valued at $32,000 after buying an additional 728 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in CareTrust REIT by 134.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,124 shares of the company’s stock worth $34,000 after buying an additional 644 shares during the period. Allworth Financial LP increased its stake in CareTrust REIT by 114.0% in the 3rd quarter. Allworth Financial LP now owns 1,042 shares of the company’s stock worth $36,000 after buying an additional 555 shares in the last quarter. Finally, Mcguire Capital Advisors Inc. bought a new stake in CareTrust REIT during the fourth quarter valued at about $40,000. 87.77% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. KeyCorp reaffirmed an “overweight” rating and issued a $46.00 price objective on shares of CareTrust REIT in a research note on Friday, May 29th. Mizuho set a $45.00 price target on CareTrust REIT in a research note on Friday, May 22nd. Zacks Research raised shares of CareTrust REIT from a “strong sell” rating to a “hold” rating in a report on Monday, May 25th. Raymond James Financial initiated coverage on shares of CareTrust REIT in a research report on Tuesday, June 16th. They set an “outperform” rating and a $43.00 price objective on the stock. Finally, BMO Capital Markets boosted their target price on shares of CareTrust REIT from $46.00 to $47.00 and gave the stock an “outperform” rating in a report on Monday, June 15th. Two analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Buy” and an average target price of $44.82.

CareTrust REIT Trading Up 1.0%

Shares of CTRE stock opened at $41.80 on Wednesday. The company has a current ratio of 2.38, a quick ratio of 2.37 and a debt-to-equity ratio of 0.22. The stock has a market capitalization of $9.87 billion, a price-to-earnings ratio of 26.79, a price-to-earnings-growth ratio of 1.86 and a beta of 0.76. CareTrust REIT, Inc. has a 12-month low of $30.21 and a 12-month high of $43.08. The stock’s 50-day moving average price is $39.69 and its 200-day moving average price is $38.76.

CareTrust REIT Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders 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 dividend yield of 3.7%. The ex-dividend date of this dividend is Tuesday, June 30th. CareTrust REIT’s dividend payout ratio is 100.00%.

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.