Pinebridge Investments L.P. boosted its holdings in CareTrust REIT, Inc. (NASDAQ:CTRE) by 10.7% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 9,558 shares of the real estate investment trust’s stock after acquiring an additional 920 shares during the period. Pinebridge Investments L.P.’s holdings in CareTrust REIT were worth $177,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. LS Investment Advisors LLC grew its stake in CareTrust REIT by 2.0% in the 2nd quarter. LS Investment Advisors LLC now owns 7,062 shares of the real estate investment trust’s stock valued at $131,000 after acquiring an additional 138 shares during the last quarter. Municipal Employees Retirement System of Michigan grew its stake in CareTrust REIT by 1.0% in the 1st quarter. Municipal Employees Retirement System of Michigan now owns 43,200 shares of the real estate investment trust’s stock valued at $727,000 after acquiring an additional 430 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in CareTrust REIT by 7.5% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,277 shares of the real estate investment trust’s stock valued at $116,000 after acquiring an additional 437 shares during the last quarter. Texas Permanent School Fund grew its stake in CareTrust REIT by 2.1% in the 1st quarter. Texas Permanent School Fund now owns 47,942 shares of the real estate investment trust’s stock valued at $806,000 after acquiring an additional 969 shares during the last quarter. Finally, GAM Holding AG grew its stake in CareTrust REIT by 19.6% in the 2nd quarter. GAM Holding AG now owns 6,100 shares of the real estate investment trust’s stock valued at $113,000 after acquiring an additional 1,000 shares during the last quarter. 89.39% of the stock is currently owned by hedge funds and other institutional investors.

Shares of CareTrust REIT, Inc. (CTRE) opened at 18.97 on Friday. CareTrust REIT, Inc. has a 1-year low of $12.70 and a 1-year high of $19.86.

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 13th. Shareholders of record on Friday, September 29th will be given a $0.185 dividend. This represents a $0.74 annualized dividend and a yield of 3.90%. The ex-dividend date is Thursday, September 28th. CareTrust REIT’s dividend payout ratio (DPR) is presently 164.45%.

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A number of equities research analysts recently commented on CTRE shares. Zacks Investment Research raised shares of CareTrust REIT from a “hold” rating to a “buy” rating and set a $20.00 price objective on the stock in a research note on Monday, July 17th. KeyCorp reissued a “buy” rating and issued a $20.00 price objective on shares of CareTrust REIT in a research note on Friday, August 25th. BidaskClub cut shares of CareTrust REIT from a “strong-buy” rating to a “buy” rating in a research note on Saturday, July 8th. Finally, BMO Capital Markets cut shares of CareTrust REIT from an “outperform” rating to a “market perform” rating and increased their price objective for the company from $18.00 to $20.00 in a research note on Tuesday, June 20th. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $18.57.

CareTrust REIT Company Profile

CareTrust REIT, Inc is a self-administered, self-managed real estate investment trust. The Company is engaged in the ownership, acquisition and leasing of healthcare-related properties. It makes investments in healthcare-related real estate assets. As of December 31, 2016, its real estate portfolio included 154 skilled nursing facilities (SNFs), SNF Campuses, assisted living facilities and independent living facilities.

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Institutional Ownership by Quarter for CareTrust REIT (NASDAQ:CTRE)

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