Boothbay Fund Management LLC Boosts Stake in CareTrust REIT, Inc. $CTRE

Boothbay Fund Management LLC lifted its stake in CareTrust REIT, Inc. (NYSE:CTRE) by 16.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 347,008 shares of the company’s stock after purchasing an additional 50,216 shares during the period. Boothbay Fund Management LLC’s holdings in CareTrust REIT were worth $12,548,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of CTRE. Kemnay Advisory Services Inc. purchased a new stake in shares of CareTrust REIT in the 4th quarter worth $27,000. Transamerica Financial Advisors LLC increased its stake in shares of CareTrust REIT by 520.0% in the 4th quarter. Transamerica Financial Advisors LLC now owns 868 shares of the company’s stock worth $32,000 after purchasing an additional 728 shares in the last quarter. EverSource Wealth Advisors LLC increased its stake in shares of CareTrust REIT by 134.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,124 shares of the company’s stock worth $34,000 after purchasing an additional 644 shares in the last quarter. Heritage Wealth Advisors increased its stake in shares of CareTrust REIT by 42.9% in the 3rd quarter. Heritage Wealth Advisors now owns 1,000 shares of the company’s stock worth $35,000 after purchasing an additional 300 shares in the last quarter. Finally, Allworth Financial LP increased its stake in shares of CareTrust REIT by 114.0% in the 3rd quarter. Allworth Financial LP now owns 1,042 shares of the company’s stock worth $36,000 after purchasing an additional 555 shares in the last quarter. 87.77% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. KeyCorp restated an “overweight” rating and issued a $46.00 price objective on shares of CareTrust REIT in a research note on Friday, May 29th. BMO Capital Markets increased their price target on CareTrust REIT from $46.00 to $47.00 and gave the stock an “outperform” rating in a research note on Monday. Raymond James Financial assumed coverage on CareTrust REIT in a research note on Tuesday. They issued an “outperform” rating and a $43.00 price target for the company. Citigroup reiterated a “market outperform” rating on shares of CareTrust REIT in a research note on Wednesday, June 10th. Finally, UBS Group increased their price target on CareTrust REIT from $44.00 to $48.00 and gave the stock a “buy” rating in a research note on Wednesday, February 18th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $44.82.

CareTrust REIT Trading Down 1.6%

Shares of CTRE stock opened at $36.44 on Thursday. CareTrust REIT, Inc. has a 52-week low of $29.09 and a 52-week high of $43.08. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.37 and a current ratio of 2.38. The firm has a market capitalization of $8.61 billion, a PE ratio of 23.36, a PEG ratio of 1.68 and a beta of 0.76. The stock has a fifty day simple moving average of $39.41 and a two-hundred day simple moving average of $38.48.

CareTrust REIT Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be paid a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 4.3%. The ex-dividend date is Tuesday, June 30th. CareTrust REIT’s dividend payout ratio is presently 100.00%.

About CareTrust REIT

CareTrust REIT, Inc is a real estate investment trust based in Deerfield Beach, Florida, specializing in the ownership, acquisition and management of net-leased healthcare properties. The company primarily focuses on seniors housing and post-acute care facilities, entering into long-term, triple-net lease agreements with leading operators in the skilled nursing, assisted living, memory care, inpatient rehabilitation and specialty hospital sectors. Through its portfolio, CareTrust REIT aims to provide investors with stable and predictable rental income while supporting the ongoing demand for quality healthcare real estate across the United States.

Since its initial public offering in September 2013, CareTrust REIT has pursued a disciplined acquisition strategy, targeting properties in primary and select secondary markets.