Daiwa Securities Group Inc. lifted its position in shares of CareTrust REIT, Inc. (NASDAQ:CTRE) by 6.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 23,643 shares of the real estate investment trust’s stock after purchasing an additional 1,400 shares during the quarter. Daiwa Securities Group Inc.’s holdings in CareTrust REIT were worth $551,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds also recently made changes to their positions in the stock. Raymond James Trust N.A. acquired a new stake in CareTrust REIT in the 1st quarter valued at $351,000. Virginia Retirement Systems ET AL boosted its stake in CareTrust REIT by 26.1% in the 1st quarter. Virginia Retirement Systems ET AL now owns 289,300 shares of the real estate investment trust’s stock valued at $6,736,000 after buying an additional 59,900 shares in the last quarter. Exane Derivatives boosted its stake in CareTrust REIT by 4.3% in the 1st quarter. Exane Derivatives now owns 55,507 shares of the real estate investment trust’s stock valued at $1,292,000 after buying an additional 2,275 shares in the last quarter. CWM Advisors LLC acquired a new stake in CareTrust REIT in the 1st quarter valued at $402,000. Finally, Meeder Asset Management Inc. boosted its stake in CareTrust REIT by 69,136.4% in the 1st quarter. Meeder Asset Management Inc. now owns 7,616 shares of the real estate investment trust’s stock valued at $177,000 after buying an additional 7,605 shares in the last quarter. 87.55% of the stock is currently owned by institutional investors and hedge funds.
Several analysts recently commented on the company. Zacks Investment Research raised CareTrust REIT from a “hold” rating to a “buy” rating and set a $27.00 price target on the stock in a research note on Tuesday, May 4th. Raymond James reaffirmed a “buy” rating and issued a $25.00 price target on shares of CareTrust REIT in a research note on Friday, March 5th. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. CareTrust REIT currently has a consensus rating of “Buy” and a consensus price target of $23.78.
CareTrust REIT stock opened at $22.92 on Thursday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.16 and a current ratio of 1.16. The firm has a market cap of $2.22 billion, a P/E ratio of 26.96 and a beta of 1.11. The business’s fifty day moving average is $23.71 and its two-hundred day moving average is $22.38. CareTrust REIT, Inc. has a 52 week low of $16.13 and a 52 week high of $24.89.
CareTrust REIT (NASDAQ:CTRE) last posted its quarterly earnings data on Thursday, May 6th. The real estate investment trust reported $0.21 EPS for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.01). CareTrust REIT had a return on equity of 8.74% and a net margin of 45.10%. On average, equities research analysts predict that CareTrust REIT, Inc. will post 1.38 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, April 15th. Stockholders of record on Wednesday, March 31st were given a dividend of $0.265 per share. The ex-dividend date of this dividend was Tuesday, March 30th. This represents a $1.06 dividend on an annualized basis and a dividend yield of 4.62%. This is an increase from CareTrust REIT’s previous quarterly dividend of $0.25. CareTrust REIT’s payout ratio is presently 77.94%.
CareTrust REIT Profile
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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