Moran Wealth Management LLC Trims Stock Holdings in CareTrust REIT, Inc. $CTRE

Moran Wealth Management LLC reduced its holdings in shares of CareTrust REIT, Inc. (NYSE:CTRE) by 40.0% in the first quarter, Holdings Channel.com reports. The fund owned 32,523 shares of the company’s stock after selling 21,679 shares during the quarter. Moran Wealth Management LLC’s holdings in CareTrust REIT were worth $1,192,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of CTRE. Kemnay Advisory Services Inc. purchased a new stake in CareTrust REIT in the fourth quarter worth $27,000. Transamerica Financial Advisors LLC boosted its stake in shares of CareTrust REIT by 520.0% during the fourth quarter. Transamerica Financial Advisors LLC now owns 868 shares of the company’s stock valued at $32,000 after purchasing an additional 728 shares during the period. EverSource Wealth Advisors LLC boosted its stake in shares of CareTrust REIT by 134.2% during the second quarter. EverSource Wealth Advisors LLC now owns 1,124 shares of the company’s stock valued at $34,000 after purchasing an additional 644 shares during the period. Allworth Financial LP grew its holdings in shares of CareTrust REIT by 114.0% in the third 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. Finally, Mcguire Capital Advisors Inc. bought a new position in shares of CareTrust REIT in the fourth quarter worth about $40,000. Institutional investors own 87.77% of the company’s stock.

CareTrust REIT Stock Up 1.8%

Shares of CTRE stock traded up $0.76 on Tuesday, hitting $42.15. The stock had a trading volume of 165,334 shares, compared to its average volume of 2,656,725. The company has a quick ratio of 2.37, a current ratio of 2.38 and a debt-to-equity ratio of 0.22. The business has a 50 day moving average price of $39.61 and a 200 day moving average price of $38.72. The company has a market cap of $9.96 billion, a PE ratio of 27.02, a P/E/G ratio of 1.88 and a beta of 0.76. CareTrust REIT, Inc. has a one year low of $30.21 and a one year high of $43.08.

CareTrust REIT Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be given a dividend of $0.39 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $1.56 dividend on an annualized basis and a yield of 3.7%. CareTrust REIT’s dividend payout ratio (DPR) is 100.00%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Raymond James Financial started coverage on shares of CareTrust REIT in a report on Tuesday, June 16th. They set an “outperform” rating and a $43.00 price objective for the company. Wells Fargo & Company upped their target price on shares of CareTrust REIT from $42.00 to $47.00 and gave the stock an “overweight” rating in a research note on Monday, June 1st. Zacks Research raised shares of CareTrust REIT from a “strong sell” rating to a “hold” rating in a research report on Monday, May 25th. Mizuho set a $45.00 price target on shares of CareTrust REIT in a research note on Friday, May 22nd. Finally, Weiss Ratings lowered CareTrust REIT from a “buy (a-)” rating to a “buy (b+)” rating in a report on Thursday, June 11th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target 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.