Maryland State Retirement & Pension System Reduces Holdings in CareTrust REIT, Inc. $CTRE

Maryland State Retirement & Pension System lessened its holdings in shares of CareTrust REIT, Inc. (NASDAQ:CTRE) by 43.8% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 31,671 shares of the real estate investment trust’s stock after selling 24,663 shares during the quarter. Maryland State Retirement & Pension System’s holdings in CareTrust REIT were worth $1,098,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Parallel Advisors LLC boosted its stake in CareTrust REIT by 109.5% in the 2nd quarter. Parallel Advisors LLC now owns 1,100 shares of the real estate investment trust’s stock worth $34,000 after purchasing an additional 575 shares during the period. EverSource Wealth Advisors LLC increased its stake in CareTrust REIT by 134.2% in the second quarter. EverSource Wealth Advisors LLC now owns 1,124 shares of the real estate investment trust’s stock valued at $34,000 after acquiring an additional 644 shares during the last quarter. Farther Finance Advisors LLC increased its position in shares of CareTrust REIT by 75.1% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,492 shares of the real estate investment trust’s stock valued at $52,000 after purchasing an additional 640 shares during the last quarter. Salomon & Ludwin LLC purchased a new position in shares of CareTrust REIT during the third quarter worth approximately $54,000. Finally, Private Trust Co. NA raised its position in CareTrust REIT by 1,328.3% in the 2nd quarter. Private Trust Co. NA now owns 2,828 shares of the real estate investment trust’s stock worth $87,000 after purchasing an additional 2,630 shares during the period. 87.77% of the stock is owned by institutional investors.

CareTrust REIT Stock Performance

CTRE stock opened at $37.33 on Wednesday. CareTrust REIT, Inc. has a 1 year low of $24.79 and a 1 year high of $38.32. The stock’s fifty day moving average price is $36.87 and its 200-day moving average price is $34.75. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.82 and a quick ratio of 3.82. The company has a market cap of $8.34 billion, a P/E ratio of 47.25, a price-to-earnings-growth ratio of 1.25 and a beta of 0.75.

CareTrust REIT Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 15th. Investors of record on Wednesday, December 31st were issued a $0.335 dividend. The ex-dividend date of this dividend was Wednesday, December 31st. This represents a $1.34 dividend on an annualized basis and a dividend yield of 3.6%. CareTrust REIT’s dividend payout ratio (DPR) is presently 100.00%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on CTRE. Jefferies Financial Group lifted their price target on CareTrust REIT from $41.00 to $43.00 and gave the stock a “buy” rating in a research note on Monday, December 15th. KeyCorp increased their price target on shares of CareTrust REIT from $36.00 to $40.00 and gave the stock an “overweight” rating in a research note on Thursday, December 4th. UBS Group raised their price objective on CareTrust REIT from $42.00 to $43.00 and gave the company a “buy” rating in a research report on Thursday, January 8th. Cantor Fitzgerald assumed coverage on CareTrust REIT in a research report on Wednesday, October 1st. They issued a “neutral” rating and a $37.00 price target on the stock. Finally, Wells Fargo & Company upped their price target on shares of CareTrust REIT from $38.00 to $41.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 25th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, CareTrust REIT presently has a consensus rating of “Moderate Buy” and an average target price of $37.89.

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.