CareTrust REIT, Inc. $CTRE Shares Purchased by Harbor Capital Advisors Inc.

Harbor Capital Advisors Inc. boosted its position in CareTrust REIT, Inc. (NASDAQ:CTRE) by 5,813.1% in the 3rd quarter, Holdings Channel reports. The fund owned 17,207 shares of the real estate investment trust’s stock after purchasing an additional 16,916 shares during the period. Harbor Capital Advisors Inc.’s holdings in CareTrust REIT were worth $597,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. State Street Corp boosted its holdings in shares of CareTrust REIT by 2.1% during the second quarter. State Street Corp now owns 10,929,194 shares of the real estate investment trust’s stock worth $338,026,000 after purchasing an additional 225,460 shares during the last quarter. Geode Capital Management LLC increased its stake in CareTrust REIT by 1.7% in the second quarter. Geode Capital Management LLC now owns 5,003,751 shares of the real estate investment trust’s stock valued at $153,132,000 after purchasing an additional 84,904 shares during the last quarter. Invesco Ltd. increased its stake in CareTrust REIT by 201.8% in the second quarter. Invesco Ltd. now owns 3,772,350 shares of the real estate investment trust’s stock valued at $115,434,000 after purchasing an additional 2,522,260 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in CareTrust REIT by 4.6% during the second quarter. Charles Schwab Investment Management Inc. now owns 3,095,764 shares of the real estate investment trust’s stock worth $94,730,000 after buying an additional 135,392 shares during the period. Finally, Bank of New York Mellon Corp boosted its stake in CareTrust REIT by 2.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,439,849 shares of the real estate investment trust’s stock worth $74,659,000 after buying an additional 64,986 shares during the last quarter. 87.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CTRE has been the subject of a number of research analyst reports. Raymond James Financial set a $39.00 price objective on shares of CareTrust REIT and gave the company a “strong-buy” rating in a research note on Tuesday, September 2nd. Cantor Fitzgerald assumed coverage on shares of CareTrust REIT in a report on Wednesday, October 1st. They issued a “neutral” rating and a $37.00 target price for the company. KeyCorp upped their price target on shares of CareTrust REIT from $36.00 to $40.00 and gave the stock an “overweight” rating in a research report on Thursday, December 4th. UBS Group began coverage on shares of CareTrust REIT in a research note on Tuesday, November 18th. They set a “buy” rating and a $42.00 price target on the stock. Finally, Jefferies Financial Group boosted their price objective on shares of CareTrust REIT from $41.00 to $43.00 and gave the company a “buy” rating in a research note on Monday, December 15th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $37.78.

CareTrust REIT Stock Down 0.7%

CTRE opened at $36.68 on Friday. CareTrust REIT, Inc. has a 1 year low of $24.79 and a 1 year high of $38.32. The firm has a 50 day moving average price of $36.29 and a 200 day moving average price of $33.89. The company has a debt-to-equity ratio of 0.14, a quick ratio of 3.82 and a current ratio of 3.82. The company has a market cap of $8.19 billion, a PE ratio of 46.42, a price-to-earnings-growth ratio of 1.25 and a beta of 0.77.

CareTrust REIT Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st will be paid a $0.335 dividend. This represents a $1.34 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date of this dividend is Wednesday, December 31st. CareTrust REIT’s dividend payout ratio (DPR) is currently 100.00%.

CareTrust REIT Company Profile

CareTrust REIT, Inc is a healthcare-focused real estate investment trust that acquires and manages net-leased properties serving the senior housing and medical markets. The company’s portfolio spans skilled nursing facilities, assisted living communities, independent living properties, medical office buildings and life science facilities. By structuring leases on a triple-net basis, CareTrust REIT offers long-term, stable rental income streams while allowing its tenants to operate and maintain their specialized healthcare facilities.

The company’s assets are geographically diversified across the United States, with a concentration in regions experiencing aging demographics and growing demand for senior care services.