BlackRock Inc. Reduces Stock Position in CareTrust REIT, Inc. (NASDAQ:CTRE)

BlackRock Inc. lessened its stake in shares of CareTrust REIT, Inc. (NASDAQ:CTRE – Get Rating) by 0.4% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 17,712,635 shares of the real estate investment trust’s stock after selling 77,801 shares during the quarter. BlackRock Inc. owned about 18.25% of CareTrust REIT worth $320,776,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. AlphaCrest Capital Management LLC boosted its holdings in shares of CareTrust REIT by 197.2% in the third quarter. AlphaCrest Capital Management LLC now owns 141,890 shares of the real estate investment trust’s stock worth $2,570,000 after buying an additional 94,148 shares during the last quarter. Point72 Hong Kong Ltd bought a new stake in CareTrust REIT during the 3rd quarter worth approximately $112,000. Cubist Systematic Strategies LLC bought a new stake in CareTrust REIT during the 3rd quarter worth approximately $1,311,000. Guggenheim Capital LLC raised its stake in CareTrust REIT by 4.1% during the 3rd quarter. Guggenheim Capital LLC now owns 524,954 shares of the real estate investment trust’s stock worth $9,506,000 after acquiring an additional 20,893 shares during the period. Finally, Renaissance Technologies LLC raised its stake in CareTrust REIT by 61.6% during the 3rd quarter. Renaissance Technologies LLC now owns 187,800 shares of the real estate investment trust’s stock worth $3,401,000 after acquiring an additional 71,600 shares during the period. Hedge funds and other institutional investors own 85.01% of the company’s stock.

Analysts Set New Price Targets

Separately, KeyCorp raised their target price on shares of CareTrust REIT from $21.00 to $22.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 14th. Four investment analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $20.90.

CareTrust REIT Trading Down 3.3 %

CareTrust REIT stock opened at $18.72 on Friday. The stock has a market cap of $1.86 billion, a P/E ratio of -234.00 and a beta of 1.13. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.56 and a quick ratio of 0.56. CareTrust REIT, Inc. has a 1 year low of $15.90 and a 1 year high of $22.46. The firm’s 50 day moving average price is $19.77 and its 200-day moving average price is $19.39.

CareTrust REIT Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, January 13th. Investors of record on Friday, December 30th were given a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 5.88%. The ex-dividend date was Thursday, December 29th. CareTrust REIT’s dividend payout ratio is presently -1,375.00%.

CareTrust REIT Profile

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CareTrust REIT, Inc operates as real estate investment company, which engages in the ownership, acquisition, and leasing of healthcare-related properties. It offers independent living, memory care, and assisted, and skilled nursing facilities. The company was founded on October 29, 2013 and is headquartered in San Clemente, CA.