ProShare Advisors LLC Sells 22,703 Shares of CareTrust REIT, Inc. $CTRE

ProShare Advisors LLC trimmed its position in CareTrust REIT, Inc. (NYSE:CTRE) by 10.2% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 200,780 shares of the company’s stock after selling 22,703 shares during the period. ProShare Advisors LLC owned about 0.09% of CareTrust REIT worth $7,260,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the company. D.A. Davidson & CO. boosted its position in CareTrust REIT by 0.7% in the 4th quarter. D.A. Davidson & CO. now owns 40,781 shares of the company’s stock valued at $1,475,000 after buying an additional 282 shares during the last quarter. Swiss Life Asset Management Ltd boosted its position in CareTrust REIT by 2.9% in the 4th quarter. Swiss Life Asset Management Ltd now owns 10,309 shares of the company’s stock valued at $373,000 after buying an additional 291 shares during the last quarter. Heritage Wealth Advisors boosted its position in CareTrust REIT by 42.9% in the 3rd quarter. Heritage Wealth Advisors now owns 1,000 shares of the company’s stock valued at $35,000 after buying an additional 300 shares during the last quarter. Tocqueville Asset Management L.P. lifted its holdings in CareTrust REIT by 2.8% in the third quarter. Tocqueville Asset Management L.P. now owns 10,900 shares of the company’s stock valued at $378,000 after buying an additional 300 shares during the period. Finally, Jones Financial Companies Lllp boosted its stake in CareTrust REIT by 13.4% in the third quarter. Jones Financial Companies Lllp now owns 2,615 shares of the company’s stock valued at $91,000 after acquiring an additional 309 shares during the last quarter. 87.77% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have commented on CTRE. Mizuho began coverage on shares of CareTrust REIT in a report on Thursday, April 2nd. They set an “outperform” rating and a $42.00 target price for the company. Citigroup began coverage on shares of CareTrust REIT in a report on Thursday, January 22nd. They set a “market outperform” rating for the company. 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 report on Tuesday, February 17th. The Goldman Sachs Group set a $44.00 target price on shares of CareTrust REIT in a report on Thursday, January 22nd. Finally, Wells Fargo & Company lifted their target price on shares of CareTrust REIT from $41.00 to $42.00 and gave the stock an “overweight” rating in a report on Thursday, March 26th. Three equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $42.82.

CareTrust REIT Price Performance

Shares of CTRE stock opened at $41.00 on Friday. CareTrust REIT, Inc. has a 12-month low of $27.81 and a 12-month high of $43.08. The firm has a market capitalization of $9.69 billion, a price-to-earnings ratio of 26.28, a price-to-earnings-growth ratio of 2.74 and a beta of 0.77. The company has a quick ratio of 2.37, a current ratio of 2.38 and a debt-to-equity ratio of 0.22. The firm has a fifty day moving average of $39.22 and a 200-day moving average of $38.16.

CareTrust REIT Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st were issued a $0.39 dividend. This is a positive change from CareTrust REIT’s previous quarterly dividend of $0.34. The ex-dividend date of this dividend was Tuesday, March 31st. This represents a $1.56 annualized dividend and a dividend yield of 3.8%. CareTrust REIT’s dividend payout ratio (DPR) is presently 85.90%.

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.