Jennison Associates LLC Has $1.76 Million Stock Holdings in CareTrust REIT, Inc. $CTRE

Jennison Associates LLC lifted its holdings in shares of CareTrust REIT, Inc. (NYSE:CTRE) by 50.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 48,012 shares of the company’s stock after purchasing an additional 16,044 shares during the period. Jennison Associates LLC’s holdings in CareTrust REIT were worth $1,760,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Principal Financial Group Inc. increased its stake in shares of CareTrust REIT by 7.5% in the 4th quarter. Principal Financial Group Inc. now owns 1,328,660 shares of the company’s stock valued at $48,044,000 after acquiring an additional 93,101 shares in the last quarter. Sound Income Strategies LLC lifted its position in shares of CareTrust REIT by 6.4% during the 4th quarter. Sound Income Strategies LLC now owns 621,732 shares of the company’s stock valued at $23,477,000 after acquiring an additional 37,503 shares during the period. B&I Capital AG bought a new position in CareTrust REIT during the fourth quarter worth $10,989,000. M&T Bank Corp bought a new position in CareTrust REIT during the fourth quarter worth $894,000. Finally, Vanderbilt University acquired a new stake in CareTrust REIT in the fourth quarter worth $1,125,000. Institutional investors and hedge funds own 87.77% of the company’s stock.

CareTrust REIT Stock Down 2.4%

CareTrust REIT stock opened at $42.37 on Thursday. CareTrust REIT, Inc. has a 1-year low of $30.51 and a 1-year high of $43.60. The firm has a market capitalization of $10.01 billion, a price-to-earnings ratio of 27.16, a price-to-earnings-growth ratio of 1.95 and a beta of 0.76. The firm’s fifty day moving average price is $39.98 and its two-hundred day moving average price is $39.13. The company has a current ratio of 2.38, a quick ratio of 2.37 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. Investors of record on Tuesday, June 30th were given a $0.39 dividend. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $1.56 annualized dividend and a yield of 3.7%. CareTrust REIT’s dividend payout ratio (DPR) is presently 100.00%.

Analysts Set New Price Targets

CTRE has been the subject of several research analyst reports. Mizuho set a $45.00 price target on shares of 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 research report on Monday, May 25th. BMO Capital Markets raised their target price on CareTrust REIT from $46.00 to $47.00 and gave the company an “outperform” rating in a research note on Monday, June 15th. KeyCorp reaffirmed an “overweight” rating and issued a $46.00 target price on shares of CareTrust REIT in a research report on Friday, May 29th. Finally, Citigroup reaffirmed a “market outperform” rating on shares of CareTrust REIT in a research note on Wednesday, June 10th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $44.82.

CareTrust REIT Company 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.