Handelsbanken Fonder AB Has $2.86 Million Holdings in CareTrust REIT, Inc. $CTRE

Handelsbanken Fonder AB boosted its stake in CareTrust REIT, Inc. (NYSE:CTRE) by 55.2% in the fourth quarter, Holdings Channel reports. The firm owned 79,046 shares of the company’s stock after purchasing an additional 28,100 shares during the quarter. Handelsbanken Fonder AB’s holdings in CareTrust REIT were worth $2,858,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of CTRE. EverSource Wealth Advisors LLC grew its position in CareTrust REIT by 134.2% in the second quarter. EverSource Wealth Advisors LLC now owns 1,124 shares of the company’s stock valued at $34,000 after acquiring an additional 644 shares during the last quarter. Heritage Wealth Advisors grew its position in CareTrust REIT by 42.9% in the third quarter. Heritage Wealth Advisors now owns 1,000 shares of the company’s stock valued at $35,000 after acquiring an additional 300 shares during the last quarter. Allworth Financial LP grew its position in CareTrust REIT by 114.0% in the third quarter. Allworth Financial LP now owns 1,042 shares of the company’s stock valued at $36,000 after acquiring an additional 555 shares during the last quarter. Groesbeck Investment Management Corp NJ bought a new position in CareTrust REIT in the fourth quarter valued at about $43,000. Finally, USA Financial Formulas bought a new position in CareTrust REIT in the fourth quarter valued at about $52,000. Institutional investors and hedge funds own 87.77% of the company’s stock.

Wall Street Analyst Weigh In

CTRE has been the topic of a number of recent analyst reports. Mizuho set a $45.00 target price on CareTrust REIT in a research report on Friday. Zacks Research cut CareTrust REIT from a “hold” rating to a “strong sell” rating in a research report on Wednesday, March 25th. UBS Group lifted 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, February 18th. Weiss Ratings upgraded CareTrust REIT from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Monday, January 26th. Finally, Royal Bank Of Canada lifted their target price on CareTrust REIT from $41.00 to $44.00 and gave the company an “outperform” rating in a research report on Tuesday, February 24th. Three analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, CareTrust REIT presently has an average rating of “Buy” and an average price target of $43.09.

CareTrust REIT Stock Performance

NYSE:CTRE opened at $41.19 on Friday. The stock has a market cap of $9.73 billion, a P/E ratio of 26.40, a price-to-earnings-growth ratio of 2.72 and a beta of 0.76. The company has a current ratio of 2.38, a quick ratio of 2.37 and a debt-to-equity ratio of 0.22. The stock’s 50-day moving average is $39.25 and its 200-day moving average is $38.18. CareTrust REIT, Inc. has a 1-year low of $27.81 and a 1-year high of $43.08.

CareTrust REIT Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st were issued a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 3.8%. This is an increase from CareTrust REIT’s previous quarterly dividend of $0.34. The ex-dividend date was Tuesday, March 31st. CareTrust REIT’s dividend payout ratio (DPR) is presently 100.00%.

CareTrust REIT Profile

CareTrust REIT, Inc is a real estate investment trust based in Deerfield Beach, Florida, specializing in the ownership, acquisition and management of net-leased healthcare properties. The company primarily focuses on seniors housing and post-acute care facilities, entering into long-term, triple-net lease agreements with leading operators in the skilled nursing, assisted living, memory care, inpatient rehabilitation and specialty hospital sectors. Through its portfolio, CareTrust REIT aims to provide investors with stable and predictable rental income while supporting the ongoing demand for quality healthcare real estate across the United States.

Since its initial public offering in September 2013, CareTrust REIT has pursued a disciplined acquisition strategy, targeting properties in primary and select secondary markets.