Quantbot Technologies LP Grows Stock Position in CareTrust REIT, Inc. $CTRE

Quantbot Technologies LP lifted its position in CareTrust REIT, Inc. (NASDAQ:CTRE) by 575.9% during the third quarter, HoldingsChannel.com reports. The fund owned 157,461 shares of the real estate investment trust’s stock after acquiring an additional 134,165 shares during the period. Quantbot Technologies LP’s holdings in CareTrust REIT were worth $5,461,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in CTRE. Vanguard Group Inc. boosted its stake in CareTrust REIT by 14.1% during the 3rd quarter. Vanguard Group Inc. now owns 32,973,216 shares of the real estate investment trust’s stock worth $1,143,511,000 after purchasing an additional 4,067,975 shares during the last quarter. State Street Corp raised its position in shares of CareTrust REIT by 2.1% in the second quarter. State Street Corp now owns 10,929,194 shares of the real estate investment trust’s stock valued at $338,026,000 after buying an additional 225,460 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of CareTrust REIT by 1.7% in the second quarter. Geode Capital Management LLC now owns 5,003,751 shares of the real estate investment trust’s stock worth $153,132,000 after buying an additional 84,904 shares in the last quarter. Invesco Ltd. boosted its position in CareTrust REIT by 201.8% during the second quarter. Invesco Ltd. now owns 3,772,350 shares of the real estate investment trust’s stock worth $115,434,000 after acquiring an additional 2,522,260 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in CareTrust REIT by 4.6% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 3,095,764 shares of the real estate investment trust’s stock valued at $94,730,000 after acquiring an additional 135,392 shares in the last quarter. 87.77% of the stock is owned by institutional investors and hedge funds.

CareTrust REIT Stock Performance

NASDAQ CTRE opened at $40.65 on Friday. The stock has a fifty day simple moving average of $37.92 and a 200-day simple moving average of $36.14. The company has a current ratio of 3.82, a quick ratio of 3.82 and a debt-to-equity ratio of 0.14. The stock has a market cap of $9.07 billion, a PE ratio of 51.46, a P/E/G ratio of 1.25 and a beta of 0.75. CareTrust REIT, Inc. has a twelve month low of $25.48 and a twelve month high of $41.72.

CareTrust REIT Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on CTRE shares. Cantor Fitzgerald raised 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. Wells Fargo & Company increased their price target on CareTrust REIT from $38.00 to $41.00 and gave the company an “overweight” rating in a report on Tuesday, November 25th. KeyCorp boosted their price objective on CareTrust REIT from $36.00 to $40.00 and gave the stock an “overweight” rating in a research note on Thursday, December 4th. Citizens Jmp assumed coverage on CareTrust REIT in a report on Thursday, January 22nd. They issued a “market outperform” rating and a $44.00 target price for the company. Finally, Citigroup assumed coverage on CareTrust REIT in a report on Thursday, January 22nd. They set a “market outperform” rating on the stock. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average 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.