CareTrust REIT, Inc. $CTRE Shares Sold by HighTower Advisors LLC

HighTower Advisors LLC lowered its stake in shares of CareTrust REIT, Inc. (NASDAQ:CTRE) by 55.0% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 61,106 shares of the real estate investment trust’s stock after selling 74,625 shares during the period. HighTower Advisors LLC’s holdings in CareTrust REIT were worth $2,119,000 as of its most recent filing with the SEC.

Other hedge funds have also recently modified their holdings of the company. EverSource Wealth Advisors LLC boosted its position in CareTrust REIT by 134.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,124 shares of the real estate investment trust’s stock worth $34,000 after purchasing an additional 644 shares in the last quarter. Farther Finance Advisors LLC lifted its stake in shares of CareTrust REIT by 75.1% in 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 period. Salomon & Ludwin LLC purchased a new stake in CareTrust REIT during the third quarter worth $54,000. State of Wyoming purchased a new stake in CareTrust REIT during the third quarter worth $65,000. Finally, CWM LLC grew its position in CareTrust REIT by 47.6% during the second quarter. CWM LLC now owns 2,955 shares of the real estate investment trust’s stock valued at $90,000 after buying an additional 953 shares during the period. Hedge funds and other institutional investors own 87.77% of the company’s stock.

CareTrust REIT Trading Down 1.2%

CTRE opened at $40.65 on Friday. The business has a fifty day moving average price of $37.92 and a 200 day moving average price of $36.12. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.82 and a quick ratio of 3.82. CareTrust REIT, Inc. has a 12 month low of $25.48 and a 12 month high of $41.72. The stock has a market capitalization of $9.07 billion, a price-to-earnings ratio of 51.46, a PEG ratio of 1.25 and a beta of 0.75.

CareTrust REIT Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, January 15th. Investors of record on Wednesday, December 31st were paid a dividend of $0.335 per share. This represents a $1.34 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date was Wednesday, December 31st. CareTrust REIT’s dividend payout ratio (DPR) is currently 86.45%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on CTRE. Citizens Jmp started coverage on CareTrust REIT in a report on Thursday, January 22nd. They issued a “market outperform” rating and a $44.00 price objective on the stock. KeyCorp lifted their price target on CareTrust REIT from $36.00 to $40.00 and gave the stock an “overweight” rating in a research note on Thursday, December 4th. Jefferies Financial Group increased their price objective on CareTrust REIT from $41.00 to $43.00 and gave the company a “buy” rating in a research note on Monday, December 15th. Cantor Fitzgerald lifted their target price on shares of CareTrust REIT from $37.00 to $42.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 17th. Finally, The Goldman Sachs Group set a $44.00 target price on shares of CareTrust REIT in a research report on Thursday, January 22nd. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, CareTrust REIT currently has an average rating of “Moderate Buy” and a consensus target price of $40.18.

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.