HighTower Advisors LLC Sells 74,625 Shares of CareTrust REIT, Inc. $CTRE

HighTower Advisors LLC decreased its stake in shares of CareTrust REIT, Inc. (NASDAQ:CTRE) by 55.0% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 61,106 shares of the real estate investment trust’s stock after selling 74,625 shares during the quarter. HighTower Advisors LLC’s holdings in CareTrust REIT were worth $2,119,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. EverSource Wealth Advisors LLC boosted its stake in CareTrust REIT by 134.2% during the second quarter. EverSource Wealth Advisors LLC now owns 1,124 shares of the real estate investment trust’s stock valued at $34,000 after buying an additional 644 shares during the last quarter. Farther Finance Advisors LLC raised its stake in CareTrust REIT by 75.1% during the third quarter. Farther Finance Advisors LLC now owns 1,492 shares of the real estate investment trust’s stock valued at $52,000 after purchasing an additional 640 shares in the last quarter. Salomon & Ludwin LLC bought a new position in CareTrust REIT during the third quarter valued at $54,000. State of Wyoming purchased a new position in shares of CareTrust REIT in the 3rd quarter worth $65,000. Finally, Jones Financial Companies Lllp raised its position in shares of CareTrust REIT by 13.4% during the 3rd quarter. Jones Financial Companies Lllp now owns 2,615 shares of the real estate investment trust’s stock valued at $91,000 after buying an additional 309 shares in the last quarter. Hedge funds and other institutional investors own 87.77% of the company’s stock.

CareTrust REIT Price Performance

NASDAQ CTRE opened at $40.65 on Friday. The company has a market cap of $9.07 billion, a PE ratio of 51.46, a P/E/G ratio of 1.25 and a beta of 0.75. The firm’s 50 day moving average price is $37.92 and its 200-day moving average price is $36.12. The company has a debt-to-equity ratio of 0.14, a quick ratio of 3.82 and a current ratio of 3.82. CareTrust REIT, Inc. has a 52-week low of $25.48 and a 52-week high of $41.72.

CareTrust REIT Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st were paid a $0.335 dividend. The ex-dividend date was Wednesday, December 31st. This represents a $1.34 dividend on an annualized basis and a yield of 3.3%. CareTrust REIT’s dividend payout ratio (DPR) is 86.45%.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. Royal Bank Of Canada increased their price target on shares of CareTrust REIT from $41.00 to $44.00 and gave the company an “outperform” rating in a report on Tuesday. Cantor Fitzgerald lifted their target price on CareTrust REIT from $37.00 to $42.00 and gave the stock a “neutral” rating in a report on Tuesday, February 17th. Jefferies Financial Group boosted their target price on CareTrust REIT from $41.00 to $43.00 and gave the company a “buy” rating in a research report on Monday, December 15th. The Goldman Sachs Group set a $44.00 price target on CareTrust REIT in a research report on Thursday, January 22nd. Finally, Citigroup started coverage on shares of CareTrust REIT in a research report on Thursday, January 22nd. They set a “market outperform” rating on the stock. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $40.18.

About CareTrust REIT

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.