Pictet Asset Management Holding SA Has $16.11 Million Stock Position in CareTrust REIT, Inc. $CTRE

Pictet Asset Management Holding SA raised its position in CareTrust REIT, Inc. (NYSE:CTRE) by 1,285.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 439,552 shares of the company’s stock after purchasing an additional 407,819 shares during the quarter. Pictet Asset Management Holding SA owned approximately 0.20% of CareTrust REIT worth $16,110,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of CTRE. Vanguard Group Inc. lifted its holdings in shares of CareTrust REIT by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 33,184,181 shares of the company’s stock valued at $1,199,940,000 after buying an additional 210,965 shares during the last quarter. State Street Corp raised its position in CareTrust REIT by 1.8% during the fourth quarter. State Street Corp now owns 12,426,213 shares of the company’s stock valued at $453,411,000 after acquiring an additional 219,641 shares in the last quarter. Wellington Management Group LLP raised its position in CareTrust REIT by 18.1% during the fourth quarter. Wellington Management Group LLP now owns 12,355,966 shares of the company’s stock valued at $446,792,000 after acquiring an additional 1,893,143 shares in the last quarter. T. Rowe Price Investment Management Inc. lifted its stake in CareTrust REIT by 108.5% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 6,493,898 shares of the company’s stock valued at $234,820,000 after acquiring an additional 3,379,732 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in CareTrust REIT by 7.2% in the fourth quarter. Geode Capital Management LLC now owns 6,092,398 shares of the company’s stock valued at $220,332,000 after acquiring an additional 409,411 shares during the last quarter. 87.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CTRE has been the topic of several analyst reports. Wells Fargo & Company increased their price target on shares of CareTrust REIT from $42.00 to $47.00 and gave the stock an “overweight” rating in a research note on Monday, June 1st. Citigroup reiterated a “market outperform” rating on shares of CareTrust REIT in a report on Wednesday, June 10th. Zacks Research raised shares of CareTrust REIT from a “strong sell” rating to a “hold” rating in a research report on Monday, May 25th. BMO Capital Markets raised their target price on CareTrust REIT from $46.00 to $47.00 and gave the company an “outperform” rating in a report on Monday, June 15th. Finally, Raymond James Financial began coverage on CareTrust REIT in a research report on Tuesday, June 16th. They issued an “outperform” rating and a $43.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, CareTrust REIT presently has an average rating of “Moderate Buy” and a consensus price target of $44.82.

CareTrust REIT Price Performance

Shares of NYSE:CTRE opened at $41.71 on Friday. The company has a market cap of $9.85 billion, a price-to-earnings ratio of 26.73, a PEG ratio of 1.84 and a beta of 0.76. The business has a 50 day moving average price of $39.45 and a 200 day moving average price of $38.65. The company has a quick ratio of 2.37, a current ratio of 2.38 and a debt-to-equity ratio of 0.22. CareTrust REIT, Inc. has a twelve month low of $30.21 and a twelve month high of $43.08.

CareTrust REIT Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be paid a $0.39 dividend. The ex-dividend date is Tuesday, June 30th. This represents a $1.56 annualized dividend and a dividend yield of 3.7%. CareTrust REIT’s dividend payout ratio (DPR) is presently 100.00%.

CareTrust REIT Company 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.