Allstate Corp Buys Shares of 29,464 CareTrust REIT, Inc. $CTRE

Allstate Corp bought a new stake in shares of CareTrust REIT, Inc. (NYSE:CTRE) in the fourth quarter, Holdings Channel reports. The fund bought 29,464 shares of the company’s stock, valued at approximately $1,065,000.

A number of other hedge funds have also added to or reduced their stakes in CTRE. D.A. Davidson & CO. boosted its stake in CareTrust REIT by 0.7% in 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 in the last quarter. Swiss Life Asset Management Ltd lifted its position in CareTrust REIT by 2.9% in the fourth quarter. Swiss Life Asset Management Ltd now owns 10,309 shares of the company’s stock valued at $373,000 after purchasing an additional 291 shares during the last quarter. Heritage Wealth Advisors lifted its position in CareTrust REIT by 42.9% in the third quarter. Heritage Wealth Advisors now owns 1,000 shares of the company’s stock valued at $35,000 after purchasing an additional 300 shares during the last quarter. Tocqueville Asset Management L.P. lifted its position in CareTrust REIT by 2.8% in the third quarter. Tocqueville Asset Management L.P. now owns 10,900 shares of the company’s stock valued at $378,000 after purchasing an additional 300 shares during the last quarter. Finally, Jones Financial Companies Lllp lifted its position in CareTrust REIT by 13.4% in the third quarter. Jones Financial Companies Lllp now owns 2,615 shares of the company’s stock valued at $91,000 after purchasing an additional 309 shares during the last quarter. Hedge funds and other institutional investors own 87.77% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. UBS Group boosted their price objective on CareTrust REIT from $44.00 to $48.00 and gave the company a “buy” rating in a research report on Wednesday, February 18th. Mizuho set a $45.00 price objective on CareTrust REIT in a research report on Friday, May 22nd. Royal Bank Of Canada boosted their price objective on CareTrust REIT from $41.00 to $44.00 and gave the company an “outperform” rating in a research report on Tuesday, February 24th. KeyCorp reiterated an “overweight” rating and issued a $46.00 price objective on shares of CareTrust REIT in a research report on Friday. Finally, Zacks Research upgraded CareTrust REIT from a “strong sell” rating to a “hold” rating in a report on Monday, May 25th. Three analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, CareTrust REIT currently has a consensus rating of “Buy” and a consensus target price of $43.64.

CareTrust REIT Trading Down 1.0%

NYSE CTRE opened at $40.81 on Friday. CareTrust REIT, Inc. has a 12 month low of $27.81 and a 12 month high of $43.08. The stock has a market cap of $9.64 billion, a P/E ratio of 26.16, a P/E/G ratio of 1.87 and a beta of 0.76. The stock’s fifty day moving average price is $39.39 and its 200-day moving average price is $38.38. The company has a current ratio of 2.38, a quick ratio of 2.37 and a debt-to-equity ratio of 0.22.

CareTrust REIT Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st were paid a $0.39 dividend. This is an increase from CareTrust REIT’s previous quarterly dividend of $0.34. This represents a $1.56 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date of this dividend was Tuesday, March 31st. CareTrust REIT’s payout ratio is currently 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.