CareTrust REIT, Inc. $CTRE Shares Sold by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC trimmed its position in CareTrust REIT, Inc. (NYSE:CTRE) by 20.1% in the 1st quarter, HoldingsChannel reports. The firm owned 57,206 shares of the company’s stock after selling 14,363 shares during the quarter. Janney Montgomery Scott LLC’s holdings in CareTrust REIT were worth $2,097,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Kemnay Advisory Services Inc. acquired a new position in CareTrust REIT in the 4th quarter worth approximately $27,000. Transamerica Financial Advisors LLC lifted its stake in CareTrust REIT by 520.0% during 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 during the period. Allworth Financial LP boosted its holdings in shares of CareTrust REIT by 114.0% in the 3rd quarter. Allworth Financial LP now owns 1,042 shares of the company’s stock valued at $36,000 after acquiring an additional 555 shares during the last quarter. Mcguire Capital Advisors Inc. purchased a new stake in shares of CareTrust REIT in the 4th quarter valued at $40,000. Finally, EverSource Wealth Advisors LLC increased its stake in shares of CareTrust REIT by 134.2% in the second 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. Institutional investors and hedge funds own 87.77% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Mizuho set a $45.00 target price on shares of CareTrust REIT in a research report on Friday, May 22nd. BMO Capital Markets lifted their price objective on CareTrust REIT from $46.00 to $47.00 and gave the company an “outperform” rating in a research note on Monday, June 15th. Wells Fargo & Company boosted their price objective on CareTrust REIT from $42.00 to $47.00 and gave the company an “overweight” rating in a report on Monday, June 1st. Weiss Ratings upgraded CareTrust REIT from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Monday. Finally, KeyCorp reaffirmed an “overweight” rating and set a $46.00 target price on shares of CareTrust REIT in a report on Friday, May 29th. Two equities 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 stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $44.82.

CareTrust REIT Stock Performance

CTRE opened at $41.37 on Thursday. The firm has a fifty day moving average price of $39.74 and a 200 day moving average price of $38.79. CareTrust REIT, Inc. has a 1 year low of $30.21 and a 1 year high of $43.08. The stock has a market cap of $9.77 billion, a P/E ratio of 26.52, a P/E/G ratio of 1.88 and a beta of 0.76. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.38 and a quick ratio of 2.37.

CareTrust REIT Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be paid a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 3.8%. The ex-dividend date is Tuesday, June 30th. CareTrust REIT’s payout ratio is currently 100.00%.

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.