MQS Management LLC Acquires New Stake in CareTrust REIT, Inc. $CTRE

MQS Management LLC bought a new position in shares of CareTrust REIT, Inc. (NASDAQ:CTRE) in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 14,034 shares of the real estate investment trust’s stock, valued at approximately $487,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. EverSource Wealth Advisors LLC boosted its position in shares of CareTrust REIT by 134.2% during the second quarter. EverSource Wealth Advisors LLC now owns 1,124 shares of the real estate investment trust’s stock worth $34,000 after buying an additional 644 shares during the period. Farther Finance Advisors LLC boosted its position in CareTrust REIT by 75.1% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,492 shares of the real estate investment trust’s stock worth $52,000 after acquiring an additional 640 shares during the last quarter. Salomon & Ludwin LLC bought a new position in shares of CareTrust REIT during the 3rd quarter worth approximately $54,000. State of Wyoming acquired a new stake in shares of CareTrust REIT in the third quarter valued at approximately $65,000. Finally, Private Trust Co. NA raised its holdings in shares of CareTrust REIT by 1,328.3% in the second quarter. Private Trust Co. NA now owns 2,828 shares of the real estate investment trust’s stock valued at $87,000 after purchasing an additional 2,630 shares during the last quarter. Institutional investors and hedge funds own 87.77% of the company’s stock.

CareTrust REIT Stock Performance

CTRE opened at $39.34 on Thursday. The company has a quick ratio of 3.82, a current ratio of 3.82 and a debt-to-equity ratio of 0.14. CareTrust REIT, Inc. has a 12-month low of $24.79 and a 12-month high of $39.44. The business has a 50 day moving average of $37.05 and a 200-day moving average of $35.45. The stock has a market cap of $8.78 billion, a price-to-earnings ratio of 49.79, a PEG ratio of 1.25 and a beta of 0.75.

CareTrust REIT Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st were given a dividend of $0.335 per share. This represents a $1.34 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date of this dividend was Wednesday, December 31st. CareTrust REIT’s payout ratio is 100.00%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on CTRE. Citizens Jmp assumed coverage on shares of CareTrust REIT in a research report on Thursday, January 22nd. They issued a “market outperform” rating and a $44.00 target price for the company. Royal Bank Of Canada raised their price objective on CareTrust REIT from $36.00 to $41.00 and gave the company an “outperform” rating in a report on Monday, November 10th. Wells Fargo & Company upped their target price on CareTrust REIT from $38.00 to $41.00 and gave the stock an “overweight” rating in a report on Tuesday, November 25th. Jefferies Financial Group raised their price target on CareTrust REIT from $41.00 to $43.00 and gave the company a “buy” rating in a research note on Monday, December 15th. Finally, Citigroup started coverage on CareTrust REIT in a research note on Thursday, January 22nd. They set a “market outperform” rating on the stock. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $39.00.

CareTrust REIT 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.