Public Employees Retirement System of Ohio Sells 50,103 Shares of CareTrust REIT, Inc. $CTRE

Public Employees Retirement System of Ohio cut its holdings in shares of CareTrust REIT, Inc. (NYSE:CTRE) by 16.0% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 262,449 shares of the company’s stock after selling 50,103 shares during the period. Public Employees Retirement System of Ohio’s holdings in CareTrust REIT were worth $9,619,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of CTRE. Principal Financial Group Inc. lifted its holdings in CareTrust REIT by 7.5% in the fourth quarter. Principal Financial Group Inc. now owns 1,328,660 shares of the company’s stock valued at $48,044,000 after buying an additional 93,101 shares during the period. Sound Income Strategies LLC grew its holdings in CareTrust REIT by 6.4% during the 4th quarter. Sound Income Strategies LLC now owns 621,732 shares of the company’s stock worth $23,477,000 after acquiring an additional 37,503 shares during the period. B&I Capital AG acquired a new stake in CareTrust REIT during the 4th quarter worth $10,989,000. M&T Bank Corp bought a new stake in shares of CareTrust REIT during the 4th quarter valued at $894,000. Finally, Vanderbilt University acquired a new position in shares of CareTrust REIT in the 4th quarter valued at $1,125,000. Institutional investors own 87.77% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. BMO Capital Markets lifted their price objective on CareTrust REIT from $46.00 to $47.00 and gave the stock an “outperform” rating in a research note on Monday, June 15th. Citigroup reissued a “market outperform” rating on shares of CareTrust REIT in a research note on Wednesday, June 10th. Wells Fargo & Company raised their target price on CareTrust REIT from $42.00 to $47.00 and gave the stock an “overweight” rating in a report on Monday, June 1st. Raymond James Financial began coverage on CareTrust REIT in a research report on Tuesday, June 16th. They set an “outperform” rating and a $43.00 target price for the company. Finally, Mizuho set a $45.00 price target on CareTrust REIT in a research note on Friday, May 22nd. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $44.82.

CareTrust REIT Price Performance

Shares of CTRE stock opened at $42.93 on Tuesday. CareTrust REIT, Inc. has a 12-month low of $30.51 and a 12-month high of $43.60. The firm has a market capitalization of $10.14 billion, a price-to-earnings ratio of 27.52, a price-to-earnings-growth ratio of 1.95 and a beta of 0.76. 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 firm has a fifty day moving average of $40.06 and a 200-day moving average of $39.27.

CareTrust REIT Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were issued a dividend of $0.39 per share. The ex-dividend date was Tuesday, June 30th. This represents a $1.56 annualized dividend and a yield of 3.6%. CareTrust REIT’s payout ratio 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.