Y Intercept Hong Kong Ltd Purchases Shares of 73,984 CareTrust REIT, Inc. $CTRE

Y Intercept Hong Kong Ltd purchased a new position in CareTrust REIT, Inc. (NYSE:CTRE) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 73,984 shares of the company’s stock, valued at approximately $2,712,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Kemnay Advisory Services Inc. bought a new position in CareTrust REIT in the 4th quarter worth $27,000. Transamerica Financial Advisors LLC raised its holdings in 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 acquiring an additional 728 shares during the period. EverSource Wealth Advisors LLC raised its holdings in 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 acquiring an additional 644 shares during the period. Allworth Financial LP lifted its position 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 valued at $36,000 after acquiring an additional 555 shares in the last quarter. Finally, Mcguire Capital Advisors Inc. purchased a new position in shares of CareTrust REIT in the fourth quarter valued at about $40,000. 87.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CTRE has been the subject of several research analyst reports. Citigroup reiterated a “market outperform” rating on shares of CareTrust REIT in a research report on Wednesday, June 10th. Raymond James Financial initiated coverage on CareTrust REIT in a research note on Tuesday, June 16th. They issued an “outperform” rating and a $43.00 price target for the company. Wells Fargo & Company lifted their price objective on shares of CareTrust REIT from $42.00 to $47.00 and gave the company an “overweight” rating in a research report on Monday, June 1st. Zacks Research raised shares of CareTrust REIT from a “strong sell” rating to a “hold” rating in a report on Monday, May 25th. Finally, Mizuho set a $45.00 target price on shares of CareTrust REIT in a research report on Friday, May 22nd. Two investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $44.82.

CareTrust REIT Stock Performance

NYSE:CTRE opened at $41.80 on Wednesday. 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 $30.21 and a 1 year high of $43.08. The stock’s 50 day simple moving average is $39.69 and its two-hundred day simple moving average is $38.76. The company has a market cap of $9.87 billion, a price-to-earnings ratio of 26.79, a PEG ratio of 1.86 and a beta of 0.76.

CareTrust REIT Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be given a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 3.7%. The ex-dividend date is Tuesday, June 30th. 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.