MQS Management LLC Purchases New Position in CareTrust REIT, Inc. $CTRE

MQS Management LLC purchased a new stake in CareTrust REIT, Inc. (NASDAQ:CTRE) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 14,034 shares of the real estate investment trust’s stock, valued at approximately $487,000.

A number of other institutional investors also recently made changes to their positions in the company. State Street Corp increased its stake in shares of CareTrust REIT by 2.1% during the second quarter. State Street Corp now owns 10,929,194 shares of the real estate investment trust’s stock worth $338,026,000 after purchasing an additional 225,460 shares during the period. Geode Capital Management LLC grew its holdings in CareTrust REIT by 1.7% in the 2nd quarter. Geode Capital Management LLC now owns 5,003,751 shares of the real estate investment trust’s stock valued at $153,132,000 after buying an additional 84,904 shares in the last quarter. Invesco Ltd. increased its position in CareTrust REIT by 201.8% during the 2nd quarter. Invesco Ltd. now owns 3,772,350 shares of the real estate investment trust’s stock worth $115,434,000 after buying an additional 2,522,260 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of CareTrust REIT by 4.6% during the second quarter. Charles Schwab Investment Management Inc. now owns 3,095,764 shares of the real estate investment trust’s stock worth $94,730,000 after buying an additional 135,392 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in shares of CareTrust REIT by 2.7% during the second quarter. Bank of New York Mellon Corp now owns 2,439,849 shares of the real estate investment trust’s stock worth $74,659,000 after buying an additional 64,986 shares in the last quarter. Institutional investors own 87.77% of the company’s stock.

CareTrust REIT Stock Performance

NASDAQ CTRE opened at $39.34 on Thursday. The firm’s 50 day simple moving average is $37.05 and its 200 day simple moving average is $35.45. The firm has a market capitalization of $8.78 billion, a price-to-earnings ratio of 49.79, a P/E/G ratio of 1.25 and a beta of 0.75. The company has a current ratio of 3.82, a quick ratio of 3.82 and a debt-to-equity ratio of 0.14. CareTrust REIT, Inc. has a 1 year low of $24.79 and a 1 year high of $39.44.

CareTrust REIT Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 15th. Stockholders 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 annualized dividend and a dividend yield of 3.4%. CareTrust REIT’s dividend payout ratio (DPR) is presently 100.00%.

Analyst Upgrades and Downgrades

CTRE has been the subject of several analyst reports. Citigroup initiated coverage on shares of CareTrust REIT in a research note on Thursday, January 22nd. They issued a “market outperform” rating for the company. Wells Fargo & Company lifted their price target on shares of CareTrust REIT from $38.00 to $41.00 and gave the company an “overweight” rating in a research report on Tuesday, November 25th. Citizens Jmp began coverage on CareTrust REIT in a research report on Thursday, January 22nd. They set a “market outperform” rating and a $44.00 price target on the stock. UBS Group lifted their price objective on CareTrust REIT from $42.00 to $43.00 and gave the company a “buy” rating in a report on Thursday, January 8th. Finally, Jefferies Financial Group increased their target price on CareTrust REIT from $41.00 to $43.00 and gave the stock a “buy” rating in a report on Monday, December 15th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, CareTrust REIT has an average rating of “Moderate Buy” and a consensus 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.