Quantinno Capital Management LP Acquires 79,940 Shares of CareTrust REIT, Inc. $CTRE

Quantinno Capital Management LP grew its stake in CareTrust REIT, Inc. (NYSE:CTRE) by 217.1% during the first quarter, HoldingsChannel.com reports. The firm owned 116,767 shares of the company’s stock after buying an additional 79,940 shares during the period. Quantinno Capital Management LP’s holdings in CareTrust REIT were worth $4,280,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. D.A. Davidson & CO. boosted its holdings in CareTrust REIT by 0.7% during the fourth quarter. D.A. Davidson & CO. now owns 40,781 shares of the company’s stock worth $1,475,000 after buying an additional 282 shares during the last quarter. Swiss Life Asset Management Ltd grew its position in shares of CareTrust REIT by 2.9% during the 4th quarter. Swiss Life Asset Management Ltd now owns 10,309 shares of the company’s stock worth $373,000 after buying an additional 291 shares during the period. Kestra Private Wealth Services LLC increased its stake in shares of CareTrust REIT by 1.1% in the 1st quarter. Kestra Private Wealth Services LLC now owns 27,684 shares of the company’s stock valued at $1,015,000 after acquiring an additional 297 shares during the last quarter. Tocqueville Asset Management L.P. increased its stake in shares of CareTrust REIT by 2.8% in the 3rd quarter. Tocqueville Asset Management L.P. now owns 10,900 shares of the company’s stock valued at $378,000 after acquiring an additional 300 shares during the last quarter. Finally, UMB Bank n.a. raised its position in shares of CareTrust REIT by 25.3% in the 4th quarter. UMB Bank n.a. now owns 1,525 shares of the company’s stock valued at $55,000 after acquiring an additional 308 shares during the period. 87.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CTRE has been the topic of several recent analyst reports. BMO Capital Markets lifted their price objective on shares of CareTrust REIT from $46.00 to $47.00 and gave the stock an “outperform” rating in a research note on Monday, June 15th. Mizuho set a $45.00 target price on shares of CareTrust REIT in a research note on Friday, May 22nd. Wells Fargo & Company increased their target price 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. Weiss Ratings raised shares of CareTrust REIT from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Wednesday. Finally, Citigroup reissued a “market outperform” rating on shares of CareTrust REIT in a report on Wednesday, June 10th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $44.82.

CareTrust REIT Trading Up 0.2%

NYSE:CTRE opened at $41.22 on Friday. CareTrust REIT, Inc. has a fifty-two week low of $32.25 and a fifty-two week high of $43.62. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.38 and a quick ratio of 2.37. The stock has a market capitalization of $9.74 billion, a PE ratio of 25.92, a price-to-earnings-growth ratio of 1.85 and a beta of 0.75. The business’s 50-day simple moving average is $40.11 and its 200-day simple moving average is $39.53.

CareTrust REIT Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were issued a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 3.8%. The ex-dividend date was Tuesday, June 30th. CareTrust REIT’s dividend payout ratio (DPR) 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.