Jennison Associates LLC Grows Position in CareTrust REIT, Inc. $CTRE

Jennison Associates LLC raised its stake in shares of CareTrust REIT, Inc. (NYSE:CTRE) by 50.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 48,012 shares of the company’s stock after acquiring an additional 16,044 shares during the period. Jennison Associates LLC’s holdings in CareTrust REIT were worth $1,760,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Kemnay Advisory Services Inc. bought a new stake in shares of CareTrust REIT in the 4th quarter worth $27,000. Transamerica Financial Advisors LLC lifted its position in shares of CareTrust REIT by 520.0% during the fourth quarter. Transamerica Financial Advisors LLC now owns 868 shares of the company’s stock valued at $32,000 after purchasing an additional 728 shares in the last quarter. Allworth Financial LP lifted its position in shares of CareTrust REIT by 114.0% during the third quarter. Allworth Financial LP now owns 1,042 shares of the company’s stock valued at $36,000 after purchasing an additional 555 shares in the last quarter. Mcguire Capital Advisors Inc. bought a new position in shares of CareTrust REIT during the fourth quarter valued at about $40,000. Finally, EverSource Wealth Advisors LLC boosted its holdings in CareTrust REIT by 134.2% during the second quarter. EverSource Wealth Advisors LLC now owns 1,124 shares of the company’s stock worth $34,000 after purchasing an additional 644 shares during the last quarter. 87.77% of the stock is owned by hedge funds and other institutional investors.

CareTrust REIT Price Performance

CTRE opened at $42.37 on Thursday. CareTrust REIT, Inc. has a fifty-two week low of $30.51 and a fifty-two week high of $43.60. The firm has a 50-day moving average of $39.98 and a 200 day moving average of $39.13. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.37 and a current ratio of 2.38. The firm has a market cap of $10.01 billion, a P/E ratio of 27.16, a PEG ratio of 1.95 and a beta of 0.76.

CareTrust REIT Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were paid a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date was Tuesday, June 30th. CareTrust REIT’s payout ratio is presently 100.00%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Zacks Research raised shares of CareTrust REIT from a “strong sell” rating to a “hold” rating in a research report on Monday, May 25th. Wells Fargo & Company lifted their target price on shares of CareTrust REIT from $42.00 to $47.00 and gave the stock an “overweight” rating in a research report on Monday, June 1st. BMO Capital Markets boosted their target price on CareTrust REIT from $46.00 to $47.00 and gave the stock an “outperform” rating in a research note on Monday, June 15th. KeyCorp reaffirmed an “overweight” rating and issued a $46.00 target price on shares of CareTrust REIT in a report on Friday, May 29th. Finally, Mizuho set a $45.00 price target on CareTrust REIT in a report on Friday, May 22nd. 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 stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $44.82.

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.