Life Cycle Investment Partners Ltd Buys Shares of 1,099,054 CareTrust REIT, Inc. $CTRE

Life Cycle Investment Partners Ltd acquired a new stake in shares of CareTrust REIT, Inc. (NYSE:CTRE) during the fourth quarter, according to its most recent filing with the SEC. The fund acquired 1,099,054 shares of the company’s stock, valued at approximately $39,742,000. Life Cycle Investment Partners Ltd owned 0.49% of CareTrust REIT as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in shares of CareTrust REIT by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 33,184,181 shares of the company’s stock worth $1,199,940,000 after purchasing an additional 210,965 shares in the last quarter. State Street Corp raised its position in CareTrust REIT by 11.7% during the 3rd quarter. State Street Corp now owns 12,206,572 shares of the company’s stock valued at $427,336,000 after purchasing an additional 1,277,378 shares during the last quarter. Daiwa Securities Group Inc. raised its position in CareTrust REIT by 114.4% during the 3rd quarter. Daiwa Securities Group Inc. now owns 3,238,307 shares of the company’s stock valued at $112,305,000 after purchasing an additional 1,728,043 shares during the last quarter. Alyeska Investment Group L.P. raised its position in shares of CareTrust REIT by 19.5% in the 3rd quarter. Alyeska Investment Group L.P. now owns 3,116,292 shares of the company’s stock worth $108,073,000 after acquiring an additional 509,298 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of CareTrust REIT by 17.8% in the 3rd quarter. Dimensional Fund Advisors LP now owns 3,100,590 shares of the company’s stock worth $107,525,000 after acquiring an additional 468,719 shares in the last quarter. 87.77% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently weighed in on CTRE shares. Royal Bank Of Canada upped their price target on CareTrust REIT from $41.00 to $44.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 24th. 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 note on Wednesday, February 18th. Wells Fargo & Company increased their price target on CareTrust REIT from $41.00 to $42.00 and gave the company an “overweight” rating in a report on Thursday, March 26th. Mizuho set a $45.00 price target on CareTrust REIT in a report on Friday. Finally, Weiss Ratings raised CareTrust REIT from a “buy (b+)” rating to a “buy (a-)” rating in a report on Monday, January 26th. Three research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $43.09.

CareTrust REIT Stock Up 0.4%

Shares of NYSE CTRE opened at $41.19 on Friday. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.38 and a quick ratio of 2.37. The company has a market cap of $9.73 billion, a P/E ratio of 26.40, a PEG ratio of 2.72 and a beta of 0.76. CareTrust REIT, Inc. has a 1 year low of $27.81 and a 1 year high of $43.08. The firm has a 50-day simple moving average of $39.25 and a two-hundred day simple moving average of $38.18.

CareTrust REIT Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st were given a dividend of $0.39 per share. The ex-dividend date of this dividend was Tuesday, March 31st. This is a boost from CareTrust REIT’s previous quarterly dividend of $0.34. This represents a $1.56 dividend on an annualized basis and a dividend yield of 3.8%. CareTrust REIT’s payout ratio is currently 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.