Hsbc Holdings PLC Sells 200,960 Shares of CareTrust REIT, Inc. $CTRE

Hsbc Holdings PLC lessened its stake in shares of CareTrust REIT, Inc. (NYSE:CTRE) by 33.0% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 408,167 shares of the company’s stock after selling 200,960 shares during the period. Hsbc Holdings PLC owned approximately 0.18% of CareTrust REIT worth $14,959,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Kemnay Advisory Services Inc. purchased a new stake in shares of CareTrust REIT in the fourth quarter worth $27,000. Transamerica Financial Advisors LLC raised its position in shares of CareTrust REIT by 520.0% in the 4th 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. Allworth Financial LP raised its position in shares of CareTrust REIT by 114.0% in the 3rd quarter. Allworth Financial LP now owns 1,042 shares of the company’s stock worth $36,000 after purchasing an additional 555 shares during the last quarter. Mcguire Capital Advisors Inc. bought a new position in CareTrust REIT in the 4th quarter worth about $40,000. Finally, EverSource Wealth Advisors LLC boosted its stake in CareTrust REIT by 134.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,124 shares of the company’s stock worth $34,000 after purchasing an additional 644 shares in the last quarter. Hedge funds and other institutional investors own 87.77% of the company’s stock.

CareTrust REIT Price Performance

Shares of NYSE:CTRE opened at $42.37 on Thursday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.37 and a current ratio of 2.38. The firm has a market cap of $10.01 billion, a price-to-earnings ratio of 27.16, a price-to-earnings-growth ratio of 1.95 and a beta of 0.76. The business has a 50-day simple moving average of $39.98 and a two-hundred day simple moving average of $39.13. CareTrust REIT, Inc. has a fifty-two week low of $30.51 and a fifty-two week high of $43.60.

CareTrust REIT Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were issued a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 3.7%. The ex-dividend date of this dividend was Tuesday, June 30th. CareTrust REIT’s payout ratio is presently 100.00%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Weiss Ratings lowered shares of CareTrust REIT from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Tuesday. Citigroup reiterated a “market outperform” rating on shares of CareTrust REIT in a research note on Wednesday, June 10th. Raymond James Financial assumed coverage on shares of CareTrust REIT in a report on Tuesday, June 16th. They set an “outperform” rating and a $43.00 price target on the stock. Zacks Research raised shares of CareTrust REIT from a “strong sell” rating to a “hold” rating in a research report on Monday, May 25th. Finally, BMO Capital Markets boosted their price objective on shares of CareTrust REIT from $46.00 to $47.00 and gave the stock an “outperform” rating in a report on Monday, June 15th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $44.82.

CareTrust REIT Profile

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.