Sei Investments Co. Lowers Holdings in CareTrust REIT, Inc. $CTRE

Sei Investments Co. lowered its stake in shares of CareTrust REIT, Inc. (NYSE:CTRE) by 35.9% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 689,621 shares of the company’s stock after selling 385,850 shares during the period. Sei Investments Co. owned about 0.29% of CareTrust REIT worth $25,275,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of CTRE. Principal Financial Group Inc. grew its position in shares of CareTrust REIT by 7.5% during 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 during the period. Sound Income Strategies LLC increased its stake in shares of CareTrust REIT by 6.4% in the 4th quarter. Sound Income Strategies LLC now owns 621,732 shares of the company’s stock valued at $23,477,000 after purchasing an additional 37,503 shares in the last quarter. B&I Capital AG acquired a new position in CareTrust REIT in the 4th quarter worth about $10,989,000. M&T Bank Corp acquired a new position in CareTrust REIT in the 4th quarter worth about $894,000. Finally, Vanderbilt University purchased a new position in CareTrust REIT during the fourth quarter worth approximately $1,125,000. Institutional investors and hedge funds own 87.77% of the company’s stock.

CareTrust REIT Trading Down 0.5%

Shares of CareTrust REIT stock opened at $42.75 on Wednesday. The firm has a market capitalization of $10.10 billion, a PE ratio of 27.40, a P/E/G ratio of 1.93 and a beta of 0.76. CareTrust REIT, Inc. has a twelve month low of $30.72 and a twelve month high of $43.62. The firm’s 50-day moving average price is $40.09 and its 200 day moving average price is $39.31. 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 Announces Dividend

The company also recently announced 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. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 3.6%. CareTrust REIT’s dividend payout ratio is presently 100.00%.

Wall Street Analysts Forecast Growth

CTRE has been the topic of several research analyst reports. Wells Fargo & Company raised 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. BMO Capital Markets upped their target price on CareTrust REIT from $46.00 to $47.00 and gave the stock an “outperform” rating in a research note on Monday, June 15th. Zacks Research upgraded CareTrust REIT from a “strong sell” rating to a “hold” rating in a research report on Monday, May 25th. 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 on the stock. Finally, Citigroup reissued a “market outperform” rating on shares of CareTrust REIT in a report on Wednesday, June 10th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $44.82.

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.