Kestra Advisory Services LLC Purchases 28,055 Shares of CareTrust REIT, Inc. $CTRE

Kestra Advisory Services LLC grew its position in shares of CareTrust REIT, Inc. (NYSE:CTRE) by 141.9% during the first quarter, HoldingsChannel.com reports. The firm owned 47,832 shares of the company’s stock after purchasing an additional 28,055 shares during the period. Kestra Advisory Services LLC’s holdings in CareTrust REIT were worth $1,753,000 at the end of the most recent quarter.

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

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on CTRE. KeyCorp reaffirmed an “overweight” rating and set a $46.00 price target on shares of CareTrust REIT in a research note on Friday, May 29th. Mizuho set a $45.00 price objective on shares of CareTrust REIT in a research note on Friday, May 22nd. Wells Fargo & Company increased their price objective on CareTrust REIT from $42.00 to $47.00 and gave the company an “overweight” rating in a report on Monday, June 1st. Raymond James Financial initiated coverage on CareTrust REIT in a research report on Tuesday, June 16th. They set an “outperform” rating and a $43.00 target price for the company. Finally, Citigroup reaffirmed a “market outperform” rating on shares of CareTrust REIT in a report on Wednesday, June 10th. Two research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $44.82.

CareTrust REIT Trading Down 1.1%

CTRE opened at $42.39 on Tuesday. CareTrust REIT, Inc. has a twelve month low of $30.26 and a twelve month high of $43.10. The company has a fifty day moving average of $39.95 and a 200-day moving average of $39.04. The stock has a market cap of $10.01 billion, a PE ratio of 27.17, a price-to-earnings-growth ratio of 1.93 and a beta of 0.76. The company has a quick ratio of 2.37, a current ratio of 2.38 and a debt-to-equity ratio of 0.22.

CareTrust REIT Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were issued a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date was Tuesday, June 30th. CareTrust REIT’s dividend payout ratio (DPR) is presently 100.00%.

About CareTrust REIT

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.