Bank of New York Mellon Corp Cuts Holdings in CareTrust REIT, Inc. (CTRE)
Bank of New York Mellon Corp lowered its stake in CareTrust REIT, Inc. (NASDAQ:CTRE) by 22.2% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,115,934 shares of the real estate investment trust’s stock after selling 318,995 shares during the quarter. Bank of New York Mellon Corp owned about 1.47% of CareTrust REIT worth $21,247,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Citigroup Inc. lifted its stake in CareTrust REIT by 12.3% in the second quarter. Citigroup Inc. now owns 81,318 shares of the real estate investment trust’s stock valued at $1,508,000 after buying an additional 8,909 shares in the last quarter. IndexIQ Advisors LLC raised its holdings in shares of CareTrust REIT by 22.7% in the second quarter. IndexIQ Advisors LLC now owns 86,619 shares of the real estate investment trust’s stock valued at $1,606,000 after purchasing an additional 15,999 shares during the last quarter. BNP Paribas Arbitrage SA raised its holdings in shares of CareTrust REIT by 27.6% in the second quarter. BNP Paribas Arbitrage SA now owns 45,843 shares of the real estate investment trust’s stock valued at $850,000 after purchasing an additional 9,918 shares during the last quarter. Fiera Capital Corp acquired a new stake in shares of CareTrust REIT in the second quarter valued at approximately $11,946,000. Finally, BlackRock Inc. raised its holdings in shares of CareTrust REIT by 7.0% in the second quarter. BlackRock Inc. now owns 9,911,033 shares of the real estate investment trust’s stock valued at $183,750,000 after purchasing an additional 645,109 shares during the last quarter. 91.20% of the stock is currently owned by hedge funds and other institutional investors.
CTRE has been the topic of a number of recent research reports. Capital One Financial initiated coverage on shares of CareTrust REIT in a report on Monday, October 23rd. They issued an “equal weight” rating and a $21.00 price objective on the stock. BidaskClub downgraded shares of CareTrust REIT from a “hold” rating to a “sell” rating in a report on Saturday, December 2nd. BMO Capital Markets reiterated a “hold” rating and issued a $20.00 price objective on shares of CareTrust REIT in a report on Thursday, November 9th. KeyCorp reiterated a “buy” rating and issued a $20.00 price objective on shares of CareTrust REIT in a report on Friday, August 25th. Finally, Zacks Investment Research downgraded shares of CareTrust REIT from a “hold” rating to a “sell” rating in a report on Tuesday, August 22nd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $19.38.
Shares of CareTrust REIT, Inc. (NASDAQ:CTRE) opened at $17.73 on Friday. The company has a quick ratio of 1.60, a current ratio of 1.60 and a debt-to-equity ratio of 0.81. CareTrust REIT, Inc. has a fifty-two week low of $14.71 and a fifty-two week high of $19.86. The stock has a market cap of $1,348.39, a P/E ratio of 15.31, a PEG ratio of 3.81 and a beta of 0.77.
CareTrust REIT (NASDAQ:CTRE) last issued its earnings results on Wednesday, November 8th. The real estate investment trust reported $0.28 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.29 by ($0.01). The firm had revenue of $32.90 million for the quarter, compared to analyst estimates of $32.91 million. CareTrust REIT had a return on equity of 5.76% and a net margin of 25.68%. CareTrust REIT’s quarterly revenue was up 21.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.28 earnings per share. sell-side analysts predict that CareTrust REIT, Inc. will post 1.16 EPS for the current fiscal year.
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About CareTrust REIT
CareTrust REIT, Inc is a self-administered, self-managed real estate investment trust. The Company is engaged in the ownership, acquisition and leasing of healthcare-related properties. It makes investments in healthcare-related real estate assets. As of December 31, 2016, its real estate portfolio included 154 skilled nursing facilities (SNFs), SNF Campuses, assisted living facilities and independent living facilities.
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