CareTrust REIT, Inc. $CTRE Shares Sold by Royal Bank of Canada

by · The Cerbat Gem

Royal Bank of Canada reduced its stake in shares of CareTrust REIT, Inc. (NYSE:CTRE – Free Report) by 30.3% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 157,433 shares of the company’s stock after selling 68,355 shares during the quarter. Royal Bank of Canada’s holdings in CareTrust REIT were worth $5,770,000 as of its most recent filing with the SEC.

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

Analysts Set New Price Targets

Several equities research analysts recently issued reports on CTRE shares. Mizuho set a $45.00 price target on shares of CareTrust REIT in a research note on Friday, May 22nd. Citigroup reaffirmed a “market outperform” rating on shares of CareTrust REIT in a research report on Wednesday, June 10th. BMO Capital Markets boosted their price target on CareTrust REIT from $46.00 to $47.00 and gave the stock an “outperform” rating in a research note on Monday, June 15th. Zacks Research raised CareTrust REIT from a “strong sell” rating to a “hold” rating in a report on Monday, May 25th. Finally, Cantor Fitzgerald raised their price objective on CareTrust REIT from $42.00 to $43.00 and gave the company a “neutral” rating in a research note on Monday. Two research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $44.91.

Get Our Latest Stock Analysis on CareTrust REIT

CareTrust REIT Price Performance

Shares of CTRE stock opened at $39.08 on Thursday. The firm has a fifty day moving average of $40.16 and a two-hundred day moving average of $39.59. The firm has a market cap of $9.23 billion, a P/E ratio of 24.58, a P/E/G ratio of 1.74 and a beta of 0.75. CareTrust REIT, Inc. has a 1-year low of $32.25 and a 1-year high of $43.62. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.57 and a quick ratio of 0.57.

CareTrust REIT Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were paid a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date was Tuesday, June 30th. CareTrust REIT’s dividend payout ratio (DPR) is 98.11%.

CareTrust REIT Company Profile

(Free Report)

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.

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