Monashee Investment Management LLC Buys Shares of 60,000 CareTrust REIT, Inc. $CTRE

Monashee Investment Management LLC bought a new position in shares of CareTrust REIT, Inc. (NASDAQ:CTRE) in the 3rd quarter, Holdings Channel.com reports. The institutional investor bought 60,000 shares of the real estate investment trust’s stock, valued at approximately $2,081,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. World Investment Advisors boosted its stake in CareTrust REIT by 1.3% during the 3rd quarter. World Investment Advisors now owns 23,104 shares of the real estate investment trust’s stock worth $801,000 after acquiring an additional 306 shares during the last quarter. Jones Financial Companies Lllp raised its holdings in CareTrust REIT by 13.4% in the third quarter. Jones Financial Companies Lllp now owns 2,615 shares of the real estate investment trust’s stock worth $91,000 after purchasing an additional 309 shares during the period. SageView Advisory Group LLC raised its holdings in CareTrust REIT by 2.9% in the second quarter. SageView Advisory Group LLC now owns 11,900 shares of the real estate investment trust’s stock worth $364,000 after purchasing an additional 332 shares during the period. GF Fund Management CO. LTD. boosted its position in shares of CareTrust REIT by 10.8% during the third quarter. GF Fund Management CO. LTD. now owns 3,668 shares of the real estate investment trust’s stock worth $127,000 after purchasing an additional 358 shares in the last quarter. Finally, WealthShield Partners LLC grew its holdings in shares of CareTrust REIT by 0.8% in the 3rd quarter. WealthShield Partners LLC now owns 48,374 shares of the real estate investment trust’s stock valued at $1,678,000 after buying an additional 379 shares during the period. 87.77% of the stock is owned by institutional investors.

CareTrust REIT Stock Performance

Shares of CareTrust REIT stock opened at $40.65 on Friday. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.82 and a quick ratio of 3.82. The firm has a market cap of $9.07 billion, a price-to-earnings ratio of 51.46, a price-to-earnings-growth ratio of 1.25 and a beta of 0.75. The stock’s 50-day moving average is $37.92 and its 200-day moving average is $36.14. CareTrust REIT, Inc. has a one year low of $25.48 and a one year high of $41.72.

CareTrust REIT Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st were paid a $0.335 dividend. The ex-dividend date was Wednesday, December 31st. This represents a $1.34 annualized dividend and a yield of 3.3%. CareTrust REIT’s payout ratio is presently 86.45%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on CTRE. Wells Fargo & Company raised their price objective on CareTrust REIT from $38.00 to $41.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 25th. Jefferies Financial Group raised their price target on CareTrust REIT from $41.00 to $43.00 and gave the stock a “buy” rating in a research report on Monday, December 15th. KeyCorp lifted their price objective on CareTrust REIT from $36.00 to $40.00 and gave the company an “overweight” rating in a report on Thursday, December 4th. Royal Bank Of Canada increased their target price on CareTrust REIT from $41.00 to $44.00 and gave the stock an “outperform” rating in a research note on Tuesday. Finally, UBS Group lifted their price target on shares of CareTrust REIT from $44.00 to $48.00 and gave the company a “buy” rating in a research note on Wednesday, February 18th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, CareTrust REIT has a consensus rating of “Moderate Buy” and a consensus price target of $40.18.

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.