The Manufacturers Life Insurance Company Increases Position in CareTrust REIT, Inc. $CTRE

The Manufacturers Life Insurance Company grew its position in shares of CareTrust REIT, Inc. (NYSE:CTRE) by 79.6% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 253,730 shares of the company’s stock after purchasing an additional 112,484 shares during the period. The Manufacturers Life Insurance Company’s holdings in CareTrust REIT were worth $9,299,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of CTRE. Kemnay Advisory Services Inc. acquired a new stake in shares of CareTrust REIT in the fourth quarter valued at $27,000. Transamerica Financial Advisors LLC lifted its stake in CareTrust REIT by 520.0% during the 4th quarter. Transamerica Financial Advisors LLC now owns 868 shares of the company’s stock worth $32,000 after acquiring an additional 728 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in CareTrust REIT by 134.2% during the 2nd 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. Mcguire Capital Advisors Inc. purchased a new position in CareTrust REIT during the 4th quarter valued at about $40,000. Finally, Groesbeck Investment Management Corp NJ acquired a new position in CareTrust REIT in the 4th quarter valued at about $43,000. 87.77% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have issued reports on the stock. Zacks Research upgraded shares of CareTrust REIT from a “strong sell” rating to a “hold” rating in a research note on Monday, May 25th. BMO Capital Markets lifted their price objective on shares of CareTrust REIT from $46.00 to $47.00 and gave the company an “outperform” rating in a report on Monday, June 15th. Weiss Ratings cut shares of CareTrust REIT from a “buy (a-)” rating to a “buy (b+)” rating in a report on Tuesday, July 21st. KeyCorp reaffirmed an “overweight” rating and set a $46.00 target price on shares of CareTrust REIT in a research note on Friday, May 29th. Finally, Wells Fargo & Company increased their target price on shares of CareTrust REIT from $42.00 to $47.00 and gave the stock an “overweight” rating in a report on Monday, June 1st. One equities research 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 company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $44.82.

CareTrust REIT Trading Down 1.7%

CTRE opened at $41.25 on Tuesday. The business has a fifty day moving average price of $40.14 and a 200 day moving average price of $39.44. 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 12 month low of $31.92 and a 12 month high of $43.62. The stock has a market capitalization of $9.74 billion, a price-to-earnings ratio of 26.44, a PEG ratio of 1.89 and a beta of 0.75.

CareTrust REIT Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were given a dividend of $0.39 per share. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 3.8%. 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.