Gagnon Securities LLC Has $4.71 Million Position in CareTrust REIT, Inc. $CTRE

Gagnon Securities LLC cut its holdings in CareTrust REIT, Inc. (NASDAQ:CTRE) by 9.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 135,685 shares of the real estate investment trust’s stock after selling 14,863 shares during the period. Gagnon Securities LLC’s holdings in CareTrust REIT were worth $4,706,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in CTRE. Segall Bryant & Hamill LLC grew its position in shares of CareTrust REIT by 33.5% during the 2nd quarter. Segall Bryant & Hamill LLC now owns 722,727 shares of the real estate investment trust’s stock worth $22,115,000 after buying an additional 181,280 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH boosted its stake in CareTrust REIT by 34.0% during the second quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 306,495 shares of the real estate investment trust’s stock worth $9,379,000 after acquiring an additional 77,720 shares in the last quarter. Nomura Asset Management Co. Ltd. grew its holdings in CareTrust REIT by 4.4% in the second quarter. Nomura Asset Management Co. Ltd. now owns 271,310 shares of the real estate investment trust’s stock worth $8,302,000 after purchasing an additional 11,440 shares during the period. Metis Global Partners LLC increased its stake in CareTrust REIT by 33.4% in the second quarter. Metis Global Partners LLC now owns 31,718 shares of the real estate investment trust’s stock valued at $971,000 after purchasing an additional 7,945 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC bought a new stake in CareTrust REIT in the second quarter valued at $343,000. Institutional investors own 87.77% of the company’s stock.

CareTrust REIT Stock Performance

Shares of CareTrust REIT stock opened at $37.07 on Friday. CareTrust REIT, Inc. has a 52 week low of $24.79 and a 52 week high of $38.32. The company has a quick ratio of 3.82, a current ratio of 3.82 and a debt-to-equity ratio of 0.14. The business has a 50 day moving average price of $36.94 and a 200-day moving average price of $34.98. The company has a market cap of $8.28 billion, a PE ratio of 46.93, a price-to-earnings-growth ratio of 1.25 and a beta of 0.75.

CareTrust REIT Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 15th. Investors of record on Wednesday, December 31st were given a $0.335 dividend. This represents a $1.34 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date of this dividend was Wednesday, December 31st. CareTrust REIT’s dividend payout ratio is presently 100.00%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on CTRE shares. The Goldman Sachs Group set a $44.00 target price on CareTrust REIT in a research note on Thursday, January 22nd. Wells Fargo & Company increased their price target on CareTrust REIT from $38.00 to $41.00 and gave the stock an “overweight” rating in a report on Tuesday, November 25th. Citizens Jmp initiated coverage on CareTrust REIT in a research note on Thursday, January 22nd. They issued a “market outperform” rating and a $44.00 price objective for the company. Citigroup initiated coverage on CareTrust REIT in a research report on Thursday, January 22nd. They set a “market outperform” rating on the stock. Finally, UBS Group lifted their price target on shares of CareTrust REIT from $42.00 to $43.00 and gave the company a “buy” rating in a research report on Thursday, January 8th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, CareTrust REIT presently has a consensus rating of “Moderate Buy” and an average price target of $39.00.

CareTrust REIT Profile

CareTrust REIT, Inc is a healthcare-focused real estate investment trust that acquires and manages net-leased properties serving the senior housing and medical markets. The company’s portfolio spans skilled nursing facilities, assisted living communities, independent living properties, medical office buildings and life science facilities. By structuring leases on a triple-net basis, CareTrust REIT offers long-term, stable rental income streams while allowing its tenants to operate and maintain their specialized healthcare facilities.

The company’s assets are geographically diversified across the United States, with a concentration in regions experiencing aging demographics and growing demand for senior care services.