Louisiana State Employees Retirement System Makes New $2.38 Million Investment in CareTrust REIT, Inc. $CTRE

Louisiana State Employees Retirement System bought a new stake in shares of CareTrust REIT, Inc. (NYSE:CTRE) during the first quarter, Holdings Channel reports. The fund bought 64,800 shares of the company’s stock, valued at approximately $2,375,000.

Other large investors have also modified their holdings of the company. T. Rowe Price Investment Management Inc. boosted its stake in shares of CareTrust REIT by 108.5% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 6,493,898 shares of the company’s stock valued at $234,820,000 after purchasing an additional 3,379,732 shares in the last quarter. Norges Bank bought a new position in CareTrust REIT in the fourth quarter worth approximately $114,810,000. Hudson Bay Capital Management LP lifted its holdings in CareTrust REIT by 713.4% during the third quarter. Hudson Bay Capital Management LP now owns 1,710,528 shares of the company’s stock worth $59,321,000 after buying an additional 1,989,394 shares during the period. Wellington Management Group LLP lifted its holdings in CareTrust REIT by 18.1% during the fourth quarter. Wellington Management Group LLP now owns 12,355,966 shares of the company’s stock worth $446,792,000 after buying an additional 1,893,143 shares during the period. Finally, Daiwa Securities Group Inc. boosted its position in CareTrust REIT by 114.4% during the 3rd quarter. Daiwa Securities Group Inc. now owns 3,238,307 shares of the company’s stock valued at $112,305,000 after acquiring an additional 1,728,043 shares in the last quarter. Institutional investors own 87.77% of the company’s stock.

Analyst Ratings Changes

CTRE has been the topic of a number of analyst reports. Wells Fargo & Company lifted their price target on CareTrust REIT from $42.00 to $47.00 and gave the company an “overweight” rating in a report on Monday, June 1st. KeyCorp reaffirmed an “overweight” rating and set a $46.00 price objective on shares of CareTrust REIT in a research report on Friday, May 29th. Zacks Research upgraded CareTrust REIT from a “strong sell” rating to a “hold” rating in a research note on Monday, May 25th. Mizuho set a $45.00 target price on shares of CareTrust REIT in a report on Friday, May 22nd. Finally, Citigroup reissued a “market outperform” rating on shares of CareTrust REIT in a research report on Wednesday, June 10th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $44.82.

CareTrust REIT Trading Down 1.0%

Shares of NYSE:CTRE opened at $40.40 on Tuesday. The business’s 50-day moving average is $39.34 and its 200 day moving average is $38.55. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.38 and a quick ratio of 2.37. CareTrust REIT, Inc. has a 1 year low of $29.91 and a 1 year high of $43.08. The firm has a market capitalization of $9.54 billion, a P/E ratio of 25.90, a P/E/G ratio of 1.84 and a beta of 0.76.

CareTrust REIT Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be issued a dividend of $0.39 per share. The ex-dividend date is Tuesday, June 30th. This represents a $1.56 annualized dividend and a dividend yield of 3.9%. CareTrust REIT’s dividend payout ratio is 100.00%.

CareTrust REIT Company 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.