Greenland Capital Management LP Takes Position in CareTrust REIT, Inc. $CTRE

Greenland Capital Management LP acquired a new stake in CareTrust REIT, Inc. (NASDAQ:CTRE) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 140,000 shares of the real estate investment trust’s stock, valued at approximately $4,855,000.

Several other large investors have also bought and sold shares of the company. Royal Bank of Canada raised its position in CareTrust REIT by 36.4% in the first quarter. Royal Bank of Canada now owns 179,501 shares of the real estate investment trust’s stock worth $5,129,000 after acquiring an additional 47,936 shares in the last quarter. NewEdge Advisors LLC grew its stake in shares of CareTrust REIT by 11.3% in the 1st quarter. NewEdge Advisors LLC now owns 33,628 shares of the real estate investment trust’s stock worth $961,000 after purchasing an additional 3,408 shares during the last quarter. CWM LLC raised its holdings in shares of CareTrust REIT by 47.6% in the 2nd quarter. CWM LLC now owns 2,955 shares of the real estate investment trust’s stock worth $90,000 after purchasing an additional 953 shares in the last quarter. D.A. Davidson & CO. raised its holdings in shares of CareTrust REIT by 0.8% in the 2nd quarter. D.A. Davidson & CO. now owns 39,849 shares of the real estate investment trust’s stock worth $1,219,000 after purchasing an additional 327 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. lifted its stake in CareTrust REIT by 2.0% during the second quarter. Sumitomo Mitsui Trust Group Inc. now owns 208,979 shares of the real estate investment trust’s stock valued at $6,395,000 after purchasing an additional 4,165 shares during the last quarter. Institutional investors own 87.77% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on CTRE shares. UBS Group lifted their price target on shares of CareTrust REIT from $44.00 to $48.00 and gave the stock a “buy” rating in a research report on Wednesday, February 18th. Cantor Fitzgerald raised their price objective on CareTrust REIT from $37.00 to $42.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 17th. Wells Fargo & Company boosted their target price on CareTrust REIT from $38.00 to $41.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 25th. Royal Bank Of Canada upped their target price on CareTrust REIT from $36.00 to $41.00 and gave the company an “outperform” rating in a report on Monday, November 10th. Finally, Citizens Jmp initiated coverage on CareTrust REIT in a research report on Thursday, January 22nd. They issued a “market outperform” rating and a $44.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, CareTrust REIT currently has a consensus rating of “Moderate Buy” and a consensus price target of $39.91.

CareTrust REIT Price Performance

Shares of NASDAQ:CTRE opened at $40.46 on Tuesday. The company’s fifty day moving average is $37.56 and its two-hundred day moving average is $35.94. The company has a market cap of $9.03 billion, a P/E ratio of 51.21, a price-to-earnings-growth ratio of 1.25 and a beta of 0.75. CareTrust REIT, Inc. has a 12-month low of $24.90 and a 12-month high of $41.36. The company has a quick ratio of 3.82, a current ratio of 3.82 and a debt-to-equity ratio of 0.14.

CareTrust REIT Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 15th. Investors of record on Wednesday, December 31st were paid a $0.335 dividend. This represents a $1.34 annualized dividend and a yield of 3.3%. The ex-dividend date of this dividend was Wednesday, December 31st. CareTrust REIT’s dividend payout ratio is currently 86.45%.

About CareTrust REIT

CareTrust REIT, Inc is a healthcare-focused real estate investment trust that acquires and manages net-leased properties serving the senior housing and medical markets. The company’s portfolio spans skilled nursing facilities, assisted living communities, independent living properties, medical office buildings and life science facilities. By structuring leases on a triple-net basis, CareTrust REIT offers long-term, stable rental income streams while allowing its tenants to operate and maintain their specialized healthcare facilities.

The company’s assets are geographically diversified across the United States, with a concentration in regions experiencing aging demographics and growing demand for senior care services.