Hsbc Holdings PLC Reduces Stake in CareTrust REIT, Inc. $CTRE

Hsbc Holdings PLC lowered its position in CareTrust REIT, Inc. (NYSE:CTRE) by 33.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 408,167 shares of the company’s stock after selling 200,960 shares during the period. Hsbc Holdings PLC’s holdings in CareTrust REIT were worth $14,959,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Kemnay Advisory Services Inc. bought a new position in CareTrust REIT in the fourth quarter valued at about $27,000. Transamerica Financial Advisors LLC grew its stake in shares of CareTrust REIT by 520.0% during the 4th quarter. Transamerica Financial Advisors LLC now owns 868 shares of the company’s stock valued at $32,000 after purchasing an additional 728 shares during the period. Allworth Financial LP increased its position in shares of CareTrust REIT by 114.0% during the 3rd 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 last quarter. Mcguire Capital Advisors Inc. purchased a new stake in shares of CareTrust REIT during the 4th quarter valued at about $40,000. Finally, EverSource Wealth Advisors LLC lifted its stake in shares of CareTrust REIT by 134.2% in the 2nd 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 period. Hedge funds and other institutional investors own 87.77% of the company’s stock.

CareTrust REIT Price Performance

Shares of NYSE:CTRE opened at $42.37 on Thursday. The company has a market capitalization of $10.01 billion, a P/E ratio of 27.16, a P/E/G ratio of 1.95 and a beta of 0.76. CareTrust REIT, Inc. has a 1-year low of $30.51 and a 1-year high of $43.60. The firm’s 50 day simple moving average is $39.98 and its two-hundred day simple moving average is $39.13. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.38 and a quick ratio of 2.37.

CareTrust REIT Dividend Announcement

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

Wall Street Analysts Forecast Growth

CTRE has been the topic of a number of research reports. Raymond James Financial began coverage on shares of CareTrust REIT in a report on Tuesday, June 16th. They issued an “outperform” rating and a $43.00 price objective on the stock. Citigroup reiterated a “market outperform” rating on shares of CareTrust REIT in a research report on Wednesday, June 10th. Weiss Ratings cut shares of CareTrust REIT from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Tuesday. Zacks Research raised shares of CareTrust REIT from a “strong sell” rating to a “hold” rating in a research report on Monday, May 25th. Finally, Mizuho set a $45.00 target price on CareTrust REIT in a report on Friday, May 22nd. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $44.82.

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.