New Age Alpha Advisors LLC Sells 149,692 Shares of CareTrust REIT, Inc. $CTRE

New Age Alpha Advisors LLC lessened its stake in CareTrust REIT, Inc. (NYSE:CTRE) by 78.7% in the 4th quarter, Holdings Channel reports. The institutional investor owned 40,619 shares of the company’s stock after selling 149,692 shares during the period. New Age Alpha Advisors LLC’s holdings in CareTrust REIT were worth $1,469,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the stock. D.A. Davidson & CO. lifted its stake in shares of CareTrust REIT by 0.7% in the fourth quarter. D.A. Davidson & CO. now owns 40,781 shares of the company’s stock valued at $1,475,000 after buying an additional 282 shares during the period. Swiss Life Asset Management Ltd lifted its stake in shares of CareTrust REIT by 2.9% in the fourth quarter. Swiss Life Asset Management Ltd now owns 10,309 shares of the company’s stock valued at $373,000 after buying an additional 291 shares during the period. Heritage Wealth Advisors lifted its stake in shares of CareTrust REIT by 42.9% in the third quarter. Heritage Wealth Advisors now owns 1,000 shares of the company’s stock valued at $35,000 after buying an additional 300 shares during the period. Tocqueville Asset Management L.P. lifted its stake in shares of CareTrust REIT by 2.8% in the third quarter. Tocqueville Asset Management L.P. now owns 10,900 shares of the company’s stock valued at $378,000 after buying an additional 300 shares during the period. Finally, Jones Financial Companies Lllp lifted its holdings in shares of CareTrust REIT by 13.4% during the 3rd quarter. Jones Financial Companies Lllp now owns 2,615 shares of the company’s stock worth $91,000 after acquiring an additional 309 shares during the period. Institutional investors own 87.77% of the company’s stock.

Wall Street Analysts Forecast Growth

CTRE has been the subject of a number of analyst reports. Mizuho set a $45.00 price objective on shares of CareTrust REIT in a report on Friday, May 22nd. UBS Group raised their price objective on shares of CareTrust REIT from $44.00 to $48.00 and gave the stock a “buy” rating in a report on Wednesday, February 18th. Royal Bank Of Canada raised their price objective on shares of CareTrust REIT from $41.00 to $44.00 and gave the stock an “outperform” rating in a report on Tuesday, February 24th. Wells Fargo & Company raised their price objective on shares of CareTrust REIT from $41.00 to $42.00 and gave the stock an “overweight” rating in a report on Thursday, March 26th. Finally, Weiss Ratings downgraded shares of CareTrust REIT from a “buy (a)” rating to a “buy (a-)” rating in a report on Tuesday. Three equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $43.09.

CareTrust REIT Price Performance

NYSE:CTRE opened at $41.67 on Thursday. The company has a 50-day moving average of $39.34 and a 200-day moving average of $38.33. The company has a market capitalization of $9.85 billion, a price-to-earnings ratio of 26.71, a PEG ratio of 2.71 and a beta of 0.76. CareTrust REIT, Inc. has a 52 week low of $27.81 and a 52 week high of $43.08. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.37 and a current ratio of 2.38.

CareTrust REIT Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st were issued a dividend of $0.39 per share. The ex-dividend date of this dividend was Tuesday, March 31st. This represents a $1.56 annualized dividend and a yield of 3.7%. This is an increase from CareTrust REIT’s previous quarterly dividend of $0.34. CareTrust REIT’s payout ratio is 100.00%.

About CareTrust REIT

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.