Greenland Capital Management LP Purchases New Position in CareTrust REIT, Inc. $CTRE

Greenland Capital Management LP acquired a new stake in CareTrust REIT, Inc. (NASDAQ:CTRE) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 140,000 shares of the real estate investment trust’s stock, valued at approximately $4,855,000. Greenland Capital Management LP owned 0.06% of CareTrust REIT at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of CTRE. Vanguard Group Inc. grew its position in CareTrust REIT by 14.1% in the third quarter. Vanguard Group Inc. now owns 32,973,216 shares of the real estate investment trust’s stock valued at $1,143,511,000 after acquiring an additional 4,067,975 shares in the last quarter. Invesco Ltd. increased its holdings in shares of CareTrust REIT by 201.8% in the 2nd quarter. Invesco Ltd. now owns 3,772,350 shares of the real estate investment trust’s stock valued at $115,434,000 after acquiring an additional 2,522,260 shares during the last quarter. Daiwa Securities Group Inc. increased its stake in CareTrust REIT by 2,245.5% during the second quarter. Daiwa Securities Group Inc. now owns 1,510,264 shares of the real estate investment trust’s stock valued at $46,214,000 after purchasing an additional 1,445,873 shares during the last quarter. Copeland Capital Management LLC grew its position in shares of CareTrust REIT by 350.9% during the 3rd quarter. Copeland Capital Management LLC now owns 1,716,101 shares of the real estate investment trust’s stock valued at $59,514,000 after buying an additional 1,335,513 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. acquired a new position in CareTrust REIT in the second quarter valued at approximately $22,491,000. Hedge funds and other institutional investors own 87.77% of the company’s stock.

CareTrust REIT Stock Performance

Shares of CTRE opened at $40.46 on Tuesday. The firm has a market capitalization of $9.03 billion, a PE ratio of 51.21, a P/E/G ratio of 1.25 and a beta of 0.75. The company has a quick ratio of 3.82, a current ratio of 3.82 and a debt-to-equity ratio of 0.14. The firm has a 50-day moving average price of $37.56 and a 200 day moving average price of $35.94. CareTrust REIT, Inc. has a 52-week low of $24.90 and a 52-week high of $41.36.

CareTrust REIT Dividend Announcement

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

Analyst Upgrades and Downgrades

Several analysts recently issued reports on CTRE shares. Citizens Jmp assumed coverage on CareTrust REIT in a report on Thursday, January 22nd. They issued a “market outperform” rating and a $44.00 price target on the stock. UBS Group increased their target price on CareTrust REIT from $44.00 to $48.00 and gave the stock a “buy” rating in a research report on Wednesday, February 18th. Cantor Fitzgerald raised their target price on CareTrust REIT from $37.00 to $42.00 and gave the company a “neutral” rating in a research note on Tuesday, February 17th. KeyCorp upped their price target on shares of CareTrust REIT from $36.00 to $40.00 and gave the stock an “overweight” rating in a research report on Thursday, December 4th. Finally, 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 report on Tuesday, November 25th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, CareTrust REIT presently has an average rating of “Moderate Buy” and an average target price of $39.91.

About CareTrust REIT

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.