Norges Bank Invests $114.81 Million in CareTrust REIT, Inc. $CTRE

Norges Bank acquired a new stake in CareTrust REIT, Inc. (NYSE:CTRE) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 3,175,053 shares of the company’s stock, valued at approximately $114,810,000.

A number of other large investors also recently made changes to their positions in CTRE. Royal Bank of Canada grew its stake in shares of CareTrust REIT by 36.4% during the first quarter. Royal Bank of Canada now owns 179,501 shares of the company’s stock worth $5,129,000 after purchasing an additional 47,936 shares during the period. NewEdge Advisors LLC lifted its stake in CareTrust REIT by 11.3% in the first quarter. NewEdge Advisors LLC now owns 33,628 shares of the company’s stock valued at $961,000 after buying an additional 3,408 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in CareTrust REIT by 134.2% during the second quarter. EverSource Wealth Advisors LLC now owns 1,124 shares of the company’s stock worth $34,000 after buying an additional 644 shares during the last quarter. First Trust Advisors LP boosted its holdings in CareTrust REIT by 67.6% during the second quarter. First Trust Advisors LP now owns 245,154 shares of the company’s stock worth $7,502,000 after buying an additional 98,850 shares during the last quarter. Finally, Cerity Partners LLC grew its position in shares of CareTrust REIT by 310.1% during the 2nd quarter. Cerity Partners LLC now owns 36,640 shares of the company’s stock worth $1,121,000 after buying an additional 27,706 shares during the period. Institutional investors and hedge funds own 87.77% of the company’s stock.

CareTrust REIT Stock Down 1.7%

Shares of CareTrust REIT stock opened at $37.38 on Friday. The company has a market capitalization of $8.83 billion, a P/E ratio of 23.96, a price-to-earnings-growth ratio of 1.72 and a beta of 0.76. 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 business has a 50-day moving average of $39.45 and a two-hundred day moving average of $38.46. CareTrust REIT, Inc. has a 1 year low of $27.81 and a 1 year high of $43.08.

CareTrust REIT Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st were paid a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 4.2%. The ex-dividend date of this dividend was Tuesday, March 31st. This is a positive change from CareTrust REIT’s previous quarterly dividend of $0.34. CareTrust REIT’s dividend payout ratio (DPR) is currently 100.00%.

Wall Street Analysts Forecast Growth

CTRE has been the subject of a number of recent analyst reports. KeyCorp reaffirmed an “overweight” rating and issued a $46.00 price target on shares of CareTrust REIT in a research note on Friday, May 29th. Wells Fargo & Company boosted their price objective on shares of CareTrust REIT from $42.00 to $47.00 and gave the company an “overweight” rating in a report on Monday. UBS Group upped their target price on shares of CareTrust REIT from $44.00 to $48.00 and gave the company a “buy” rating in a research note on Wednesday, February 18th. Royal Bank Of Canada increased their target price on shares of CareTrust REIT from $41.00 to $44.00 and gave the stock an “outperform” rating in a report on Tuesday, February 24th. Finally, Weiss Ratings cut shares of CareTrust REIT from a “buy (a)” rating to a “buy (a-)” rating in a research report on Tuesday, May 26th. Three equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $44.09.

CareTrust REIT Company 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.