CareTrust REIT, Inc. $CTRE Stake Lessened by Edgestream Partners L.P.

Edgestream Partners L.P. lessened its stake in shares of CareTrust REIT, Inc. (NYSE:CTRE) by 60.3% during the first quarter, Holdings Channel.com reports. The fund owned 39,451 shares of the company’s stock after selling 59,863 shares during the period. Edgestream Partners L.P.’s holdings in CareTrust REIT were worth $1,446,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. D.A. Davidson & CO. lifted its position in CareTrust REIT by 0.7% in the fourth quarter. D.A. Davidson & CO. now owns 40,781 shares of the company’s stock worth $1,475,000 after purchasing an additional 282 shares during the period. Swiss Life Asset Management Ltd increased its position in shares of CareTrust REIT by 2.9% during the 4th quarter. Swiss Life Asset Management Ltd now owns 10,309 shares of the company’s stock valued at $373,000 after purchasing an additional 291 shares during the period. Kestra Private Wealth Services LLC increased its position in shares of CareTrust REIT by 1.1% during the 1st quarter. Kestra Private Wealth Services LLC now owns 27,684 shares of the company’s stock valued at $1,015,000 after purchasing an additional 297 shares during the period. Tocqueville Asset Management L.P. raised its stake in shares of CareTrust REIT by 2.8% in the 3rd quarter. Tocqueville Asset Management L.P. now owns 10,900 shares of the company’s stock worth $378,000 after buying an additional 300 shares in the last quarter. Finally, UMB Bank n.a. raised its stake in shares of CareTrust REIT by 25.3% in the 4th quarter. UMB Bank n.a. now owns 1,525 shares of the company’s stock worth $55,000 after buying an additional 308 shares in the last quarter. Institutional investors own 87.77% of the company’s stock.

Wall Street Analyst Weigh In

CTRE has been the subject of several research reports. Raymond James Financial began coverage on CareTrust REIT in a research note on Tuesday, June 16th. They set an “outperform” rating and a $43.00 target price for the company. Zacks Research upgraded shares of CareTrust REIT from a “strong sell” rating to a “hold” rating in a research report on Monday, May 25th. KeyCorp reissued an “overweight” rating and issued a $46.00 price target on shares of CareTrust REIT in a report on Friday, May 29th. Citigroup restated a “market outperform” rating on shares of CareTrust REIT in a research report on Wednesday, June 10th. Finally, Mizuho set a $45.00 price objective on shares of CareTrust REIT in a research note on Friday, May 22nd. One equities research 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’s stock. According to data from MarketBeat.com, CareTrust REIT currently has a consensus rating of “Moderate Buy” and an average price target of $44.82.

CareTrust REIT Price Performance

NYSE CTRE opened at $41.25 on Tuesday. CareTrust REIT, Inc. has a 1 year low of $31.92 and a 1 year high of $43.62. The business’s fifty day moving average is $40.14 and its two-hundred day moving average is $39.44. The stock has a market capitalization of $9.74 billion, a P/E ratio of 26.44, a P/E/G ratio of 1.89 and a beta of 0.75. 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 Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were issued a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date was Tuesday, June 30th. CareTrust REIT’s payout ratio is presently 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.