Gabelli Funds LLC Has $7.52 Million Holdings in CareTrust REIT, Inc. $CTRE

Gabelli Funds LLC lessened its holdings in CareTrust REIT, Inc. (NYSE:CTRE) by 5.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 205,191 shares of the company’s stock after selling 12,836 shares during the quarter. Gabelli Funds LLC owned 0.09% of CareTrust REIT worth $7,520,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. Royal Bank of Canada lifted its position in CareTrust REIT by 36.4% during the 1st quarter. Royal Bank of Canada now owns 179,501 shares of the company’s stock worth $5,129,000 after buying an additional 47,936 shares in the last quarter. NewEdge Advisors LLC increased its position in shares of CareTrust REIT by 11.3% in the first quarter. NewEdge Advisors LLC now owns 33,628 shares of the company’s stock valued at $961,000 after acquiring an additional 3,408 shares during the last quarter. 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 worth $34,000 after acquiring an additional 644 shares in the last quarter. First Trust Advisors LP raised its holdings in CareTrust REIT by 67.6% during the second quarter. First Trust Advisors LP now owns 245,154 shares of the company’s stock worth $7,502,000 after acquiring an additional 98,850 shares in the last quarter. Finally, Cerity Partners LLC boosted its position in CareTrust REIT by 310.1% during the second quarter. Cerity Partners LLC now owns 36,640 shares of the company’s stock valued at $1,121,000 after purchasing an additional 27,706 shares during the last quarter. Institutional investors and hedge funds own 87.77% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on CTRE. Weiss Ratings downgraded CareTrust REIT from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Tuesday, July 21st. KeyCorp reissued an “overweight” rating and issued a $46.00 target price on shares of CareTrust REIT in a research note on Friday, May 29th. Wells Fargo & Company raised their target price on shares of CareTrust REIT from $42.00 to $47.00 and gave the company an “overweight” rating in a research note on Monday, June 1st. BMO Capital Markets upped their price target on shares of CareTrust REIT from $46.00 to $47.00 and gave the stock an “outperform” rating in a research report on Monday, June 15th. Finally, Raymond James Financial began coverage on shares of CareTrust REIT in a research note on Tuesday, June 16th. They issued an “outperform” rating and a $43.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, CareTrust REIT currently has a consensus rating of “Moderate Buy” and an average target price of $44.82.

CareTrust REIT Stock Performance

CTRE 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 stock has a market cap of $10.14 billion, a price-to-earnings ratio of 27.52, a PEG ratio of 1.95 and a beta of 0.76. The business has a 50 day moving average of $40.06 and a 200-day moving average of $39.27. The company has a quick ratio of 2.37, a current ratio of 2.38 and a debt-to-equity ratio of 0.22.

CareTrust REIT Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were paid a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date was Tuesday, June 30th. CareTrust REIT’s dividend payout ratio is 100.00%.

About CareTrust REIT

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.