Brookfield Corp ON raised its holdings in CareTrust REIT, Inc. (NASDAQ:CTRE – Free Report) by 37.6% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,801,006 shares of the real estate investment trust’s stock after purchasing an additional 492,555 shares during the quarter. Brookfield Corp ON owned about 1.81% of CareTrust REIT worth $35,264,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently bought and sold shares of the business. Lido Advisors LLC acquired a new position in CareTrust REIT in the first quarter valued at $263,000. Public Employees Retirement System of Ohio raised its holdings in CareTrust REIT by 16.8% during the first quarter. Public Employees Retirement System of Ohio now owns 133,152 shares of the real estate investment trust’s stock worth $2,607,000 after purchasing an additional 19,165 shares in the last quarter. Deutsche Bank AG raised its holdings in CareTrust REIT by 4.1% during the first quarter. Deutsche Bank AG now owns 127,252 shares of the real estate investment trust’s stock worth $2,492,000 after purchasing an additional 5,066 shares in the last quarter. Ensign Peak Advisors Inc raised its holdings in CareTrust REIT by 3.2% during the first quarter. Ensign Peak Advisors Inc now owns 40,724 shares of the real estate investment trust’s stock worth $797,000 after purchasing an additional 1,250 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its holdings in CareTrust REIT by 4.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 54,748 shares of the real estate investment trust’s stock worth $1,072,000 after purchasing an additional 2,246 shares in the last quarter. 92.24% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several research analysts recently issued reports on the stock. Berenberg Bank assumed coverage on shares of CareTrust REIT in a report on Thursday, July 27th. They set a “buy” rating and a $23.00 price target for the company. BMO Capital Markets raised shares of CareTrust REIT from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $23.50 to $24.00 in a report on Wednesday, August 16th. Royal Bank of Canada raised shares of CareTrust REIT from a “sector perform” rating to an “outperform” rating in a report on Monday. StockNews.com assumed coverage on shares of CareTrust REIT in a report on Thursday, August 17th. They set a “hold” rating for the company. Finally, TheStreet cut shares of CareTrust REIT from a “b-” rating to a “c” rating in a report on Friday, August 4th. Three research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, CareTrust REIT currently has an average rating of “Moderate Buy” and an average price target of $21.83.
CareTrust REIT Trading Up 0.2 %
Shares of CTRE opened at $20.11 on Tuesday. The company has a current ratio of 0.07, a quick ratio of 0.07 and a debt-to-equity ratio of 1.08. The firm’s 50-day moving average is $20.22 and its two-hundred day moving average is $19.71. CareTrust REIT, Inc. has a twelve month low of $16.22 and a twelve month high of $21.46. The firm has a market capitalization of $2.00 billion, a P/E ratio of 57.46 and a beta of 1.10.
CareTrust REIT Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, July 14th. Stockholders of record on Friday, June 30th were given a $0.28 dividend. The ex-dividend date of this dividend was Thursday, June 29th. This is a positive change from CareTrust REIT’s previous quarterly dividend of $0.28. This represents a $1.12 annualized dividend and a dividend yield of 5.57%. CareTrust REIT’s dividend payout ratio is currently 320.01%.
About CareTrust REIT
CareTrust REIT, Inc is a self-administered, publicly-traded real estate investment trust engaged in the ownership, acquisition, development and leasing of skilled nursing, seniors housing and other healthcare-related properties. With a nationwide portfolio of long-term net-leased properties, and a growing portfolio of quality operators leasing them, CareTrust REIT is pursuing both external and organic growth opportunities across the United States.
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