Pictet Asset Management Holding SA Buys 407,819 Shares of CareTrust REIT, Inc. $CTRE

Pictet Asset Management Holding SA grew its stake in shares of CareTrust REIT, Inc. (NYSE:CTRE) by 1,285.2% in the first quarter, Holdings Channel reports. The institutional investor owned 439,552 shares of the company’s stock after purchasing an additional 407,819 shares during the period. Pictet Asset Management Holding SA’s holdings in CareTrust REIT were worth $16,110,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Kemnay Advisory Services Inc. acquired a new stake in CareTrust REIT during the fourth quarter worth about $27,000. Transamerica Financial Advisors LLC raised its holdings in CareTrust REIT by 520.0% in the 4th quarter. Transamerica Financial Advisors LLC now owns 868 shares of the company’s stock valued at $32,000 after acquiring an additional 728 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of CareTrust REIT by 134.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,124 shares of the company’s stock worth $34,000 after acquiring an additional 644 shares during the period. Heritage Wealth Advisors lifted its position in shares of CareTrust REIT by 42.9% in the 3rd quarter. Heritage Wealth Advisors now owns 1,000 shares of the company’s stock worth $35,000 after acquiring an additional 300 shares during the period. Finally, Allworth Financial LP grew its holdings in shares of CareTrust REIT by 114.0% during the 3rd quarter. Allworth Financial LP now owns 1,042 shares of the company’s stock worth $36,000 after purchasing an additional 555 shares in the last quarter. Institutional investors own 87.77% of the company’s stock.

Analysts Set New Price Targets

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

CareTrust REIT Trading Up 2.0%

Shares of CTRE stock opened at $41.71 on Friday. The company has a market capitalization of $9.85 billion, a P/E ratio of 26.73, a P/E/G ratio of 1.84 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 quick ratio of 2.37, a current ratio of 2.38 and a debt-to-equity ratio of 0.22. The firm has a 50-day moving average price of $39.45 and a 200 day moving average price of $38.65.

CareTrust REIT Dividend Announcement

The company also recently announced 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 dividend on an annualized basis and a dividend yield of 3.7%. CareTrust REIT’s payout ratio is 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.