Principal Financial Group Inc. Sells 607,156 Shares of CareTrust REIT, Inc. $CTRE

Principal Financial Group Inc. lowered its position in CareTrust REIT, Inc. (NYSE:CTRE) by 45.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 721,504 shares of the company’s stock after selling 607,156 shares during the quarter. Principal Financial Group Inc.’s holdings in CareTrust REIT were worth $26,443,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently added to or reduced their stakes in the company. Kemnay Advisory Services Inc. acquired a new position in CareTrust REIT in the 4th quarter valued at approximately $27,000. Transamerica Financial Advisors LLC lifted its holdings in shares of CareTrust REIT by 520.0% during the fourth quarter. Transamerica Financial Advisors LLC now owns 868 shares of the company’s stock worth $32,000 after purchasing an additional 728 shares during the period. EverSource Wealth Advisors LLC grew its stake in shares of CareTrust REIT by 134.2% in the second quarter. EverSource Wealth Advisors LLC now owns 1,124 shares of the company’s stock worth $34,000 after purchasing an additional 644 shares during the last quarter. Allworth Financial LP increased its holdings in CareTrust REIT by 114.0% in the third quarter. Allworth Financial LP now owns 1,042 shares of the company’s stock valued at $36,000 after purchasing an additional 555 shares during the period. Finally, Mcguire Capital Advisors Inc. acquired a new stake in CareTrust REIT in the fourth quarter valued at $40,000. 87.77% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have commented on the company. Citigroup reaffirmed a “market outperform” rating on shares of CareTrust REIT in a report on Wednesday, June 10th. KeyCorp restated an “overweight” rating and set a $46.00 price objective on shares of CareTrust REIT in a research report on Friday, May 29th. Mizuho set a $45.00 target price on CareTrust REIT in a report on Friday, May 22nd. Weiss Ratings raised shares of CareTrust REIT from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Monday, July 6th. Finally, Wells Fargo & Company raised their price target on shares of CareTrust REIT from $42.00 to $47.00 and gave the stock an “overweight” rating in a report on Monday, June 1st. Two research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $44.82.

CareTrust REIT Stock Down 1.1%

CareTrust REIT stock opened at $42.39 on Tuesday. The company has a market capitalization of $10.01 billion, a PE ratio of 27.17, a PEG ratio of 1.93 and a beta of 0.76. CareTrust REIT, Inc. has a 12-month low of $30.26 and a 12-month high of $43.10. The firm’s fifty day moving average is $39.95 and its 200 day moving average is $39.04. The company has a quick ratio of 2.37, a current ratio of 2.38 and a debt-to-equity ratio of 0.22.

CareTrust REIT Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were given a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date of this dividend was Tuesday, June 30th. CareTrust REIT’s dividend payout ratio is 100.00%.

CareTrust REIT Profile

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.