Van ECK Associates Corp Grows Holdings in CareTrust REIT, Inc. (NASDAQ:CTRE)

Posted by Defense World Staff on May 18th, 2023

Van ECK Associates Corp lifted its stake in shares of CareTrust REIT, Inc. (NASDAQ:CTRE – Get Rating) by 79.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,014 shares of the real estate investment trust’s stock after purchasing an additional 4,448 shares during the period. Van ECK Associates Corp’s holdings in CareTrust REIT were worth $186,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of CTRE. Envestnet Asset Management Inc. increased its stake in shares of CareTrust REIT by 15.2% during the first quarter. Envestnet Asset Management Inc. now owns 18,759 shares of the real estate investment trust’s stock worth $362,000 after purchasing an additional 2,480 shares in the last quarter. US Bancorp DE boosted its position in CareTrust REIT by 16.2% during the first quarter. US Bancorp DE now owns 7,204 shares of the real estate investment trust’s stock worth $139,000 after acquiring an additional 1,006 shares during the last quarter. MetLife Investment Management LLC boosted its position in CareTrust REIT by 57.6% during the first quarter. MetLife Investment Management LLC now owns 52,286 shares of the real estate investment trust’s stock worth $1,009,000 after acquiring an additional 19,120 shares during the last quarter. Rhumbline Advisers boosted its position in CareTrust REIT by 1.1% during the first quarter. Rhumbline Advisers now owns 289,358 shares of the real estate investment trust’s stock worth $5,585,000 after acquiring an additional 3,062 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in CareTrust REIT by 14.1% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 83,652 shares of the real estate investment trust’s stock worth $1,614,000 after acquiring an additional 10,314 shares during the last quarter. Hedge funds and other institutional investors own 85.01% of the company’s stock.

CareTrust REIT Trading Up 0.8 %

Shares of NASDAQ:CTRE opened at $19.62 on Thursday. CareTrust REIT, Inc. has a 52 week low of $16.22 and a 52 week high of $22.46. The company’s 50 day moving average is $19.34 and its two-hundred day moving average is $19.45. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.87. The company has a market cap of $1.95 billion, a PE ratio of 35.04 and a beta of 1.13.

CareTrust REIT Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 14th. Stockholders of record on Friday, March 31st were paid a dividend of $0.28 per share. This is an increase from CareTrust REIT’s previous quarterly dividend of $0.28. The ex-dividend date was Thursday, March 30th. This represents a $1.12 annualized dividend and a dividend yield of 5.71%. CareTrust REIT’s dividend payout ratio is 200.00%.

Wall Street Analyst Weigh In

Several research firms have weighed in on CTRE. TheStreet upgraded shares of CareTrust REIT from a “c” rating to a “b-” rating in a report on Tuesday. KeyCorp upped their price objective on shares of CareTrust REIT from $21.00 to $22.00 and gave the stock an “overweight” rating in a report on Tuesday, February 14th. StockNews.com started coverage on shares of CareTrust REIT in a report on Thursday. They issued a “hold” rating on the stock. Finally, Wells Fargo & Company started coverage on shares of CareTrust REIT in a report on Wednesday, April 19th. They issued an “equal weight” rating and a $21.00 price objective on the stock. Four research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, CareTrust REIT presently has a consensus rating of “Moderate Buy” and a consensus target price of $21.10.

About CareTrust REIT

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CareTrust REIT, Inc operates as real estate investment company, which engages in the ownership, acquisition, and leasing of healthcare-related properties. It offers independent living, memory care, and assisted, and skilled nursing facilities. The company was founded on October 29, 2013 and is headquartered in San Clemente, CA.