Sumitomo Mitsui Trust Group Inc. Has $8.35 Million Stock Position in CareTrust REIT, Inc. $CTRE

Sumitomo Mitsui Trust Group Inc. increased its stake in CareTrust REIT, Inc. (NASDAQ:CTRE) by 15.2% during the third quarter, Holdings Channel reports. The firm owned 240,735 shares of the real estate investment trust’s stock after acquiring an additional 31,756 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in CareTrust REIT were worth $8,349,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of CTRE. Parallel Advisors LLC raised its position in shares of CareTrust REIT by 109.5% in the 2nd quarter. Parallel Advisors LLC now owns 1,100 shares of the real estate investment trust’s stock valued at $34,000 after buying an additional 575 shares in the last quarter. EverSource Wealth Advisors LLC increased its stake in CareTrust REIT by 134.2% in the second quarter. EverSource Wealth Advisors LLC now owns 1,124 shares of the real estate investment trust’s stock valued at $34,000 after acquiring an additional 644 shares during the last quarter. Farther Finance Advisors LLC raised its position in CareTrust REIT by 75.1% during the third quarter. Farther Finance Advisors LLC now owns 1,492 shares of the real estate investment trust’s stock valued at $52,000 after purchasing an additional 640 shares in the last quarter. Salomon & Ludwin LLC acquired a new position in CareTrust REIT during the third quarter valued at approximately $54,000. Finally, Private Trust Co. NA lifted its stake in CareTrust REIT by 1,328.3% during the second quarter. Private Trust Co. NA now owns 2,828 shares of the real estate investment trust’s stock worth $87,000 after purchasing an additional 2,630 shares during the last quarter. Institutional investors own 87.77% of the company’s stock.

CareTrust REIT Price Performance

CareTrust REIT stock opened at $37.74 on Friday. The stock has a 50-day moving average price of $36.83 and a two-hundred day moving average price of $34.63. CareTrust REIT, Inc. has a 12 month low of $24.79 and a 12 month high of $38.32. The company has a market capitalization of $8.43 billion, a PE ratio of 47.77, a P/E/G ratio of 1.25 and a beta of 0.75. The company has a current ratio of 3.82, a quick ratio of 3.82 and a debt-to-equity ratio of 0.14.

CareTrust REIT Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 15th. Investors of record on Wednesday, December 31st were given a dividend of $0.335 per share. The ex-dividend date was Wednesday, December 31st. This represents a $1.34 annualized dividend and a yield of 3.6%. CareTrust REIT’s dividend payout ratio (DPR) is currently 100.00%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Wells Fargo & Company lifted their price target on CareTrust REIT from $38.00 to $41.00 and gave the company an “overweight” rating in a research note on Tuesday, November 25th. Cantor Fitzgerald assumed coverage on CareTrust REIT in a research note on Wednesday, October 1st. They issued a “neutral” rating and a $37.00 price objective on the stock. Royal Bank Of Canada boosted their target price on CareTrust REIT from $36.00 to $41.00 and gave the stock an “outperform” rating in a research note on Monday, November 10th. KeyCorp increased their target price on shares of CareTrust REIT from $36.00 to $40.00 and gave the stock an “overweight” rating in a report on Thursday, December 4th. Finally, Jefferies Financial Group lifted their price target on shares of CareTrust REIT from $41.00 to $43.00 and gave the company a “buy” rating in a report on Monday, December 15th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, CareTrust REIT currently has a consensus rating of “Moderate Buy” and an average target price of $37.89.

CareTrust REIT Company Profile

CareTrust REIT, Inc is a healthcare-focused real estate investment trust that acquires and manages net-leased properties serving the senior housing and medical markets. The company’s portfolio spans skilled nursing facilities, assisted living communities, independent living properties, medical office buildings and life science facilities. By structuring leases on a triple-net basis, CareTrust REIT offers long-term, stable rental income streams while allowing its tenants to operate and maintain their specialized healthcare facilities.

The company’s assets are geographically diversified across the United States, with a concentration in regions experiencing aging demographics and growing demand for senior care services.