Copeland Capital Management LLC Sells 37,988 Shares of CareTrust REIT, Inc. $CTRE

Copeland Capital Management LLC cut its holdings in shares of CareTrust REIT, Inc. (NYSE:CTRE) by 2.1% in the first quarter, Holdings Channel reports. The institutional investor owned 1,764,855 shares of the company’s stock after selling 37,988 shares during the quarter. CareTrust REIT accounts for about 1.4% of Copeland Capital Management LLC’s portfolio, making the stock its 20th biggest holding. Copeland Capital Management LLC’s holdings in CareTrust REIT were worth $64,682,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Royal Bank of Canada grew its position in CareTrust REIT by 36.4% in the 1st quarter. Royal Bank of Canada now owns 179,501 shares of the company’s stock worth $5,129,000 after purchasing an additional 47,936 shares during the last quarter. NewEdge Advisors LLC raised its holdings in CareTrust REIT by 11.3% in the 1st 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 in the last quarter. EverSource Wealth Advisors LLC raised its holdings in CareTrust REIT by 134.2% in 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 in the last quarter. First Trust Advisors LP lifted its position in shares of CareTrust REIT by 67.6% in the 2nd 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 during the period. Finally, Cerity Partners LLC lifted its position in shares of CareTrust REIT by 310.1% in the 2nd quarter. Cerity Partners LLC now owns 36,640 shares of the company’s stock worth $1,121,000 after acquiring an additional 27,706 shares during the period. Institutional investors and hedge funds own 87.77% of the company’s stock.

Analyst Upgrades and Downgrades

CTRE has been the subject of several research reports. Wells Fargo & Company raised their target price on CareTrust REIT from $42.00 to $47.00 and gave the stock an “overweight” rating in a research report on Monday, June 1st. Raymond James Financial started coverage on shares of CareTrust REIT in a research note on Tuesday, June 16th. They issued an “outperform” rating and a $43.00 price objective for the company. Weiss Ratings upgraded shares of CareTrust REIT from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Monday, July 6th. Citigroup reissued a “market outperform” rating on shares of CareTrust REIT in a research note on Wednesday, June 10th. Finally, KeyCorp restated an “overweight” rating and set a $46.00 price target on shares of CareTrust REIT in a research note on Friday, May 29th. Two equities research 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. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $44.82.

CareTrust REIT Stock Up 2.2%

Shares of NYSE CTRE opened at $42.88 on Friday. The stock has a market cap of $10.13 billion, a PE ratio of 27.49, a PEG ratio of 1.89 and a beta of 0.76. The business has a fifty day moving average of $39.92 and a two-hundred day moving average of $38.99. CareTrust REIT, Inc. has a 52-week low of $30.21 and a 52-week high of $43.10. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.37 and a current ratio of 2.38.

CareTrust REIT Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were issued a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 3.6%. The ex-dividend date of this dividend was Tuesday, June 30th. CareTrust REIT’s dividend payout ratio (DPR) is currently 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.