Comerica Bank Acquires 792 Shares of Caretrust REIT Inc (NASDAQ:CTRE)

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Comerica Bank grew its holdings in Caretrust REIT Inc (NASDAQ:CTRE) by 0.9% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 90,099 shares of the real estate investment trust’s stock after purchasing an additional 792 shares during the quarter. Comerica Bank’s holdings in Caretrust REIT were worth $2,206,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. California Public Employees Retirement System raised its stake in shares of Caretrust REIT by 50.0% in the 3rd quarter. California Public Employees Retirement System now owns 238,284 shares of the real estate investment trust’s stock valued at $5,601,000 after buying an additional 79,446 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its stake in shares of Caretrust REIT by 17.8% in the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 132,988 shares of the real estate investment trust’s stock valued at $3,126,000 after buying an additional 20,066 shares in the last quarter. State of Tennessee Treasury Department raised its stake in shares of Caretrust REIT by 10.2% in the 3rd quarter. State of Tennessee Treasury Department now owns 71,960 shares of the real estate investment trust’s stock valued at $1,692,000 after buying an additional 6,674 shares in the last quarter. New York State Teachers Retirement System raised its stake in shares of Caretrust REIT by 0.5% in the 3rd quarter. New York State Teachers Retirement System now owns 145,620 shares of the real estate investment trust’s stock valued at $3,423,000 after buying an additional 700 shares in the last quarter. Finally, HGK Asset Management Inc. raised its stake in shares of Caretrust REIT by 10.5% in the 3rd quarter. HGK Asset Management Inc. now owns 25,055 shares of the real estate investment trust’s stock valued at $444,000 after buying an additional 2,390 shares in the last quarter. Institutional investors and hedge funds own 89.68% of the company’s stock.

CTRE opened at $19.50 on Thursday. The firm’s 50-day simple moving average is $23.27 and its 200-day simple moving average is $23.77. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.48 and a current ratio of 0.48. Caretrust REIT Inc has a twelve month low of $17.71 and a twelve month high of $25.54. The firm has a market cap of $1.96 billion, a price-to-earnings ratio of 15.23 and a beta of 0.66.

Caretrust REIT (NASDAQ:CTRE) last posted its earnings results on Thursday, November 7th. The real estate investment trust reported ($0.11) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.34 by ($0.45). Caretrust REIT had a return on equity of 4.76% and a net margin of 25.85%. The firm had revenue of $33.31 million during the quarter, compared to the consensus estimate of $43.64 million. During the same period in the previous year, the company posted $0.32 EPS. The firm’s revenue for the quarter was down 15.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Caretrust REIT Inc will post 1.37 EPS for the current fiscal year.

The company also recently announced a — dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were issued a $0.225 dividend. This represents a dividend yield of 3.9%. The ex-dividend date was Friday, September 27th. Caretrust REIT’s payout ratio is 70.31%.

CTRE has been the subject of a number of recent research reports. BMO Capital Markets restated a “buy” rating and issued a $26.00 price objective on shares of Caretrust REIT in a research note on Wednesday, August 7th. Berenberg Bank initiated coverage on shares of Caretrust REIT in a research note on Thursday, September 12th. They issued a “buy” rating and a $29.00 price objective for the company. Barclays initiated coverage on shares of Caretrust REIT in a research note on Tuesday, September 3rd. They issued an “overweight” rating and a $26.00 price objective for the company. Capital One Financial upgraded shares of Caretrust REIT from an “equal weight” rating to an “overweight” rating and set a $25.00 price objective for the company in a research note on Wednesday, August 21st. Finally, Zacks Investment Research cut shares of Caretrust REIT from a “buy” rating to a “hold” rating in a research note on Monday. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $25.50.

Caretrust REIT Company Profile

CareTrust REIT, Inc is a self-administered, publicly-traded real estate investment trust engaged in the ownership, acquisition and leasing of seniors housing and healthcare-related properties. With 199 net-leased healthcare properties and three operated seniors housing properties in 27 states, CareTrust is pursuing opportunities across the nation to acquire properties that will be leased to a diverse group of local, regional and national seniors housing operators, healthcare services providers, and other healthcare-related businesses.

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Want to see what other hedge funds are holding CTRE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Caretrust REIT Inc (NASDAQ:CTRE).

Institutional Ownership by Quarter for Caretrust REIT (NASDAQ:CTRE)

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