Commonwealth of Pennsylvania Public School Empls Retrmt SYS Grows Stock Position in CareTrust REIT, Inc. $CTRE

Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in CareTrust REIT, Inc. (NYSE:CTRE) by 22.7% in the 1st quarter, Holdings Channel reports. The fund owned 157,152 shares of the company’s stock after purchasing an additional 29,095 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in CareTrust REIT were worth $5,760,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the company. Royal Bank of Canada grew its holdings in CareTrust REIT by 36.4% during the 1st quarter. Royal Bank of Canada now owns 179,501 shares of the company’s stock valued at $5,129,000 after purchasing an additional 47,936 shares in the last quarter. NewEdge Advisors LLC lifted its holdings in CareTrust REIT by 11.3% in the 1st quarter. NewEdge Advisors LLC now owns 33,628 shares of the company’s stock worth $961,000 after buying an additional 3,408 shares in the last quarter. EverSource Wealth Advisors LLC lifted 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 in the last quarter. First Trust Advisors LP boosted its position in CareTrust REIT by 67.6% in the 2nd quarter. First Trust Advisors LP now owns 245,154 shares of the company’s stock valued at $7,502,000 after buying an additional 98,850 shares during the last quarter. Finally, Cerity Partners LLC boosted its position in CareTrust REIT by 310.1% in the 2nd quarter. Cerity Partners LLC now owns 36,640 shares of the company’s stock valued at $1,121,000 after buying an additional 27,706 shares during the last quarter. Hedge funds and other institutional investors own 87.77% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Wells Fargo & Company lifted their target price on CareTrust REIT from $42.00 to $47.00 and gave the stock an “overweight” rating in a research report on Monday, June 1st. KeyCorp reissued an “overweight” rating and issued a $46.00 price target on shares of CareTrust REIT in a report on Friday, May 29th. Weiss Ratings upgraded CareTrust REIT from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Monday, July 6th. Mizuho set a $45.00 price objective on CareTrust REIT in a research note on Friday, May 22nd. Finally, BMO Capital Markets lifted their price objective on CareTrust REIT from $46.00 to $47.00 and gave the stock an “outperform” rating in a report on Monday, June 15th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, CareTrust REIT presently has a consensus rating of “Buy” and an average target price of $44.82.

CareTrust REIT Trading Up 0.5%

NYSE CTRE opened at $40.52 on Wednesday. The company has a market capitalization of $9.57 billion, a price-to-earnings ratio of 25.98, a price-to-earnings-growth ratio of 1.82 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. CareTrust REIT, Inc. has a 12 month low of $30.21 and a 12 month high of $43.08. The company’s fifty day moving average price is $39.83 and its two-hundred day moving average price is $38.90.

CareTrust REIT Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be given a dividend of $0.39 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $1.56 annualized dividend and a dividend yield of 3.8%. CareTrust REIT’s dividend payout ratio (DPR) is presently 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.