Russell Investments Group Ltd. Grows Stock Holdings in CareTrust REIT, Inc. $CTRE

Russell Investments Group Ltd. grew its position in shares of CareTrust REIT, Inc. (NASDAQ:CTRE) by 42.6% in the 3rd quarter, HoldingsChannel reports. The firm owned 1,286,396 shares of the real estate investment trust’s stock after acquiring an additional 384,248 shares during the quarter. Russell Investments Group Ltd.’s holdings in CareTrust REIT were worth $44,612,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. EverSource Wealth Advisors LLC increased its position in shares of CareTrust REIT by 134.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,124 shares of the real estate investment trust’s stock valued at $34,000 after purchasing an additional 644 shares during the last quarter. Heritage Wealth Advisors raised its holdings in shares of CareTrust REIT by 42.9% during the 3rd quarter. Heritage Wealth Advisors now owns 1,000 shares of the real estate investment trust’s stock valued at $35,000 after buying an additional 300 shares in the last quarter. Farther Finance Advisors LLC lifted its position in CareTrust REIT by 75.1% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,492 shares of the real estate investment trust’s stock worth $52,000 after buying an additional 640 shares during the last quarter. Salomon & Ludwin LLC bought a new stake in CareTrust REIT in the 3rd quarter worth approximately $54,000. Finally, State of Wyoming purchased a new stake in CareTrust REIT in the third quarter worth approximately $65,000. 87.77% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have commented on CTRE shares. The Goldman Sachs Group set a $44.00 price target on shares of CareTrust REIT in a research report on Thursday, January 22nd. Wells Fargo & Company boosted their price objective on shares of CareTrust REIT from $38.00 to $41.00 and gave the stock an “overweight” rating in a report on Tuesday, November 25th. UBS Group upped their price objective on shares of CareTrust REIT from $44.00 to $48.00 and gave the company a “buy” rating in a research note on Wednesday, February 18th. Citizens Jmp started coverage on shares of CareTrust REIT in a report on Thursday, January 22nd. They set a “market outperform” rating and a $44.00 target price on the stock. Finally, Cantor Fitzgerald lifted their target price on shares of CareTrust REIT from $37.00 to $42.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 17th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, CareTrust REIT presently has a consensus rating of “Moderate Buy” and an average target price of $40.18.

CareTrust REIT Stock Performance

NASDAQ:CTRE opened at $39.74 on Thursday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 3.82 and a current ratio of 3.82. CareTrust REIT, Inc. has a fifty-two week low of $25.82 and a fifty-two week high of $41.72. The firm has a market cap of $8.87 billion, a PE ratio of 50.30, a price-to-earnings-growth ratio of 1.25 and a beta of 0.74. The business has a 50 day moving average price of $38.43 and a 200-day moving average price of $36.48.

CareTrust REIT Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st were given a dividend of $0.335 per share. The ex-dividend date of this dividend was Wednesday, December 31st. This represents a $1.34 annualized dividend and a yield of 3.4%. CareTrust REIT’s dividend payout ratio is presently 86.45%.

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.