Advisors Asset Management Inc. Purchases 13,151 Shares of CareTrust REIT, Inc. $CTRE

Advisors Asset Management Inc. raised its holdings in shares of CareTrust REIT, Inc. (NASDAQ:CTRE) by 222.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 19,058 shares of the real estate investment trust’s stock after acquiring an additional 13,151 shares during the quarter. Advisors Asset Management Inc.’s holdings in CareTrust REIT were worth $661,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the business. MQS Management LLC purchased a new stake in shares of CareTrust REIT during the third quarter worth about $487,000. Profund Advisors LLC grew its holdings in CareTrust REIT by 11.6% during the 3rd quarter. Profund Advisors LLC now owns 9,788 shares of the real estate investment trust’s stock valued at $339,000 after buying an additional 1,019 shares in the last quarter. Oppenheimer Asset Management Inc. raised its position in shares of CareTrust REIT by 117.4% during the third quarter. Oppenheimer Asset Management Inc. now owns 20,141 shares of the real estate investment trust’s stock valued at $698,000 after buying an additional 10,876 shares during the last quarter. RFG Advisory LLC bought a new stake in shares of CareTrust REIT during the third quarter valued at approximately $281,000. Finally, Smartleaf Asset Management LLC lifted its holdings in shares of CareTrust REIT by 9.2% in the third quarter. Smartleaf Asset Management LLC now owns 6,018 shares of the real estate investment trust’s stock worth $207,000 after buying an additional 507 shares in the last quarter. Institutional investors own 87.77% of the company’s stock.

Wall Street Analysts Forecast Growth

CTRE has been the topic of a number of research reports. Citigroup initiated coverage on shares of CareTrust REIT in a report on Thursday, January 22nd. They issued a “market outperform” rating on the stock. Jefferies Financial Group boosted their target price on CareTrust REIT from $41.00 to $43.00 and gave the stock a “buy” rating in a research report on Monday, December 15th. The Goldman Sachs Group set a $44.00 price target on CareTrust REIT in a report on Thursday, January 22nd. Cantor Fitzgerald upped their price objective on CareTrust REIT from $37.00 to $42.00 and gave the stock a “neutral” rating in a report on Tuesday. Finally, UBS Group increased their target price on CareTrust REIT from $44.00 to $48.00 and gave the company a “buy” rating in a research report on Wednesday. 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 issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $39.91.

CareTrust REIT Trading Down 2.2%

Shares of CTRE stock opened at $40.20 on Thursday. The company has a market cap of $8.98 billion, a PE ratio of 50.88, a price-to-earnings-growth ratio of 1.25 and a beta of 0.75. CareTrust REIT, Inc. has a 1 year low of $24.79 and a 1 year high of $41.36. The stock’s 50 day simple moving average is $37.33 and its two-hundred day simple moving average is $35.76. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.82 and a quick ratio of 3.82.

CareTrust REIT Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 15th. Investors of record on Wednesday, December 31st were given a $0.335 dividend. The ex-dividend date was Wednesday, December 31st. This represents a $1.34 dividend on an annualized basis and a yield of 3.3%. CareTrust REIT’s dividend payout ratio (DPR) is currently 86.45%.

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.