Hsbc Holdings PLC Sells 35,041 Shares of CareTrust REIT, Inc. $CTRE

Hsbc Holdings PLC decreased its holdings in shares of CareTrust REIT, Inc. (NYSE:CTRE) by 5.4% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 609,127 shares of the company’s stock after selling 35,041 shares during the period. Hsbc Holdings PLC’s holdings in CareTrust REIT were worth $21,999,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Fund Advisors of America Inc FL bought a new position in CareTrust REIT in the 4th quarter valued at about $446,000. Advisortrust Partners LLC bought a new stake in CareTrust REIT during the 4th quarter worth approximately $230,000. Caitong International Asset Management Co. Ltd increased its holdings in CareTrust REIT by 496.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,670 shares of the company’s stock worth $97,000 after purchasing an additional 2,222 shares in the last quarter. Mcguire Capital Advisors Inc. purchased a new stake in shares of CareTrust REIT in the fourth quarter worth approximately $40,000. Finally, T. Rowe Price Investment Management Inc. lifted its holdings in shares of 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 purchasing an additional 3,379,732 shares in the last quarter. 87.77% of the stock is currently owned by institutional investors and hedge funds.

CareTrust REIT Stock Performance

Shares of CTRE opened at $41.80 on Wednesday. The stock has a 50 day moving average of $39.69 and a 200 day moving average of $38.76. The company has a market capitalization of $9.87 billion, a price-to-earnings ratio of 26.79, a PEG ratio of 1.86 and a beta of 0.76. CareTrust REIT, Inc. has a 12 month low of $30.21 and a 12 month high of $43.08. The company has a current ratio of 2.38, a quick ratio of 2.37 and a debt-to-equity ratio of 0.22.

CareTrust REIT Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be given a dividend of $0.39 per share. The ex-dividend date of this dividend 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 currently 100.00%.

Wall Street Analysts Forecast Growth

CTRE has been the topic of several analyst reports. BMO Capital Markets lifted their target price on CareTrust REIT from $46.00 to $47.00 and gave the company an “outperform” rating in a research report on Monday, June 15th. Weiss Ratings raised CareTrust REIT from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Monday. Zacks Research upgraded CareTrust REIT from a “strong sell” rating to a “hold” rating in a research note on Monday, May 25th. Mizuho set a $45.00 price objective on shares of CareTrust REIT in a report on Friday, May 22nd. Finally, Raymond James Financial started coverage on shares of CareTrust REIT in a research note on Tuesday, June 16th. They issued an “outperform” rating and a $43.00 target price for the company. Two research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, CareTrust REIT presently has an average rating of “Buy” and a consensus price target of $44.82.

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.