Teachers Retirement System of The State of Kentucky Buys 15,950 Shares of CareTrust REIT, Inc. $CTRE

Teachers Retirement System of The State of Kentucky lifted its position in CareTrust REIT, Inc. (NYSE:CTRE) by 11.8% in the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 150,751 shares of the company’s stock after purchasing an additional 15,950 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in CareTrust REIT were worth $5,525,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Principal Financial Group Inc. raised its holdings in shares of CareTrust REIT by 7.5% in the fourth quarter. Principal Financial Group Inc. now owns 1,328,660 shares of the company’s stock valued at $48,044,000 after acquiring an additional 93,101 shares in the last quarter. Sound Income Strategies LLC grew its holdings in CareTrust REIT by 6.4% during the 4th quarter. Sound Income Strategies LLC now owns 621,732 shares of the company’s stock worth $23,477,000 after acquiring an additional 37,503 shares in the last quarter. Mirabella Financial Services LLP increased its position in CareTrust REIT by 119.3% during the 3rd quarter. Mirabella Financial Services LLP now owns 75,297 shares of the company’s stock valued at $2,606,000 after purchasing an additional 40,962 shares during the period. B&I Capital AG bought a new stake in shares of CareTrust REIT in the 4th quarter valued at about $10,989,000. Finally, M&T Bank Corp bought a new stake in shares of CareTrust REIT in the 4th quarter valued at about $894,000. 87.77% of the stock is currently owned by hedge funds and other institutional investors.

CareTrust REIT Stock Up 0.3%

CareTrust REIT stock opened at $40.35 on Tuesday. CareTrust REIT, Inc. has a 1-year low of $30.21 and a 1-year high of $43.08. The business has a fifty day moving average price of $39.80 and a 200-day moving average price of $38.88. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.38 and a quick ratio of 2.37. The stock has a market capitalization of $9.53 billion, a price-to-earnings ratio of 25.86, a PEG ratio of 1.81 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. Shareholders of record on Tuesday, June 30th will be issued a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 3.9%. The ex-dividend date of this dividend is Tuesday, June 30th. CareTrust REIT’s dividend payout ratio (DPR) is currently 100.00%.

Analyst Ratings Changes

A number of research firms have recently issued reports on CTRE. Citigroup reiterated a “market outperform” rating on shares of CareTrust REIT in a research note on Wednesday, June 10th. BMO Capital Markets boosted their price objective on shares of CareTrust REIT from $46.00 to $47.00 and gave the stock an “outperform” rating in a research note on Monday, June 15th. Zacks Research upgraded CareTrust REIT from a “strong sell” rating to a “hold” rating in a report on Monday, May 25th. Raymond James Financial began coverage on CareTrust REIT in a report on Tuesday, June 16th. They issued an “outperform” rating and a $43.00 price target on the stock. Finally, Mizuho set a $45.00 price target on CareTrust REIT in a research report on Friday, May 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $44.82.

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.