CareTrust REIT, Inc. $CTRE Shares Sold by Royal Bank of Canada

Royal Bank of Canada reduced its holdings in CareTrust REIT, Inc. (NYSE:CTRE) by 30.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 157,433 shares of the company’s stock after selling 68,355 shares during the quarter. Royal Bank of Canada owned approximately 0.07% of CareTrust REIT worth $5,770,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Kemnay Advisory Services Inc. purchased a new position in shares of CareTrust REIT during the 4th quarter worth about $27,000. Transamerica Financial Advisors LLC increased its position in CareTrust REIT by 520.0% during the fourth quarter. Transamerica Financial Advisors LLC now owns 868 shares of the company’s stock worth $32,000 after purchasing an additional 728 shares during the last quarter. Mcguire Capital Advisors Inc. acquired a new position in CareTrust REIT during the fourth quarter worth approximately $40,000. EverSource Wealth Advisors LLC raised its stake 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 period. Finally, Eurizon Capital SGR S.p.A. purchased a new position in CareTrust REIT during the fourth quarter worth approximately $44,000. 87.77% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CTRE has been the subject of several research reports. KeyCorp reissued an “overweight” rating and set a $46.00 price objective on shares of CareTrust REIT in a research note on Friday, May 29th. Wells Fargo & Company increased their target price on CareTrust REIT from $42.00 to $47.00 and gave the stock an “overweight” rating in a research report on Monday, June 1st. Raymond James Financial began coverage on CareTrust REIT in a report on Tuesday, June 16th. They issued an “outperform” rating and a $43.00 target price on the stock. Weiss Ratings raised CareTrust REIT from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Wednesday, August 5th. Finally, BMO Capital Markets upped their price target on CareTrust REIT from $46.00 to $47.00 and gave the stock an “outperform” rating in a research note on Monday, June 15th. Two investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $44.91.

CareTrust REIT Trading Up 1.0%

Shares of CTRE stock opened at $39.08 on Thursday. The stock has a market cap of $9.23 billion, a price-to-earnings ratio of 24.58, a price-to-earnings-growth ratio of 1.74 and a beta of 0.75. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 0.27. CareTrust REIT, Inc. has a fifty-two week low of $32.25 and a fifty-two week high of $43.62. The firm’s 50 day moving average price is $40.16 and its two-hundred day moving average price is $39.59.

CareTrust REIT Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were issued a dividend of $0.39 per share. The ex-dividend date was Tuesday, June 30th. This represents a $1.56 annualized dividend and a dividend yield of 4.0%. CareTrust REIT’s payout ratio is presently 98.11%.

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.