Life Cycle Investment Partners Ltd Invests $39.74 Million in CareTrust REIT, Inc. $CTRE

Life Cycle Investment Partners Ltd purchased a new position in shares of CareTrust REIT, Inc. (NYSE:CTRE) in the 4th quarter, HoldingsChannel.com reports. The fund purchased 1,099,054 shares of the company’s stock, valued at approximately $39,742,000.

Several other hedge funds have also recently modified their holdings of the stock. D.A. Davidson & CO. raised its holdings in CareTrust REIT by 0.7% in the 4th quarter. D.A. Davidson & CO. now owns 40,781 shares of the company’s stock valued at $1,475,000 after acquiring an additional 282 shares during the last quarter. Swiss Life Asset Management Ltd boosted its position in shares of CareTrust REIT by 2.9% during the 4th quarter. Swiss Life Asset Management Ltd now owns 10,309 shares of the company’s stock worth $373,000 after purchasing an additional 291 shares during the period. Heritage Wealth Advisors boosted its position in shares of CareTrust REIT by 42.9% during the 3rd quarter. Heritage Wealth Advisors now owns 1,000 shares of the company’s stock worth $35,000 after purchasing an additional 300 shares during the period. Tocqueville Asset Management L.P. boosted its position in shares of CareTrust REIT by 2.8% during the 3rd quarter. Tocqueville Asset Management L.P. now owns 10,900 shares of the company’s stock worth $378,000 after purchasing an additional 300 shares during the period. Finally, Jones Financial Companies Lllp boosted its position in CareTrust REIT by 13.4% in the 3rd quarter. Jones Financial Companies Lllp now owns 2,615 shares of the company’s stock valued at $91,000 after buying an additional 309 shares during the period. Institutional investors and hedge funds own 87.77% of the company’s stock.

Analysts Set New Price Targets

CTRE has been the subject of several recent research reports. Royal Bank Of Canada raised their price target on shares of CareTrust REIT from $41.00 to $44.00 and gave the company an “outperform” rating in a research report on Tuesday, February 24th. Zacks Research lowered shares of CareTrust REIT from a “hold” rating to a “strong sell” rating in a research note on Wednesday, March 25th. Wells Fargo & Company lifted their price objective on shares of CareTrust REIT from $41.00 to $42.00 and gave the company an “overweight” rating in a research note on Thursday, March 26th. Mizuho set a $45.00 price objective on shares of CareTrust REIT in a research note on Friday. Finally, Cantor Fitzgerald lifted their price objective on CareTrust REIT from $37.00 to $42.00 and gave the company a “neutral” rating in a report on Tuesday, February 17th. Three equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $43.09.

CareTrust REIT Stock Performance

Shares of CTRE opened at $41.19 on Friday. CareTrust REIT, Inc. has a 1 year low of $27.81 and a 1 year high of $43.08. 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 company’s 50 day simple moving average is $39.25 and its 200 day simple moving average is $38.18. The company has a market capitalization of $9.73 billion, a price-to-earnings ratio of 26.40, a PEG ratio of 2.72 and a beta of 0.76.

CareTrust REIT Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st were given a $0.39 dividend. The ex-dividend date of this dividend was Tuesday, March 31st. This is an increase from CareTrust REIT’s previous quarterly dividend of $0.34. This represents a $1.56 annualized dividend and a dividend yield of 3.8%. CareTrust REIT’s dividend payout ratio (DPR) is currently 100.00%.

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.