CareTrust REIT, Inc. (NASDAQ:CTRE) Shares Purchased by Rhumbline Advisers

Rhumbline Advisers increased its stake in shares of CareTrust REIT, Inc. (NASDAQ:CTRE) by 8.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 336,232 shares of the real estate investment trust’s stock after purchasing an additional 25,450 shares during the period. Rhumbline Advisers owned 0.34% of CareTrust REIT worth $6,583,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Envestnet Asset Management Inc. raised its holdings in CareTrust REIT by 15.2% in the 1st quarter. Envestnet Asset Management Inc. now owns 18,759 shares of the real estate investment trust’s stock valued at $362,000 after acquiring an additional 2,480 shares during the last quarter. US Bancorp DE raised its holdings in CareTrust REIT by 16.2% in the 1st quarter. US Bancorp DE now owns 7,204 shares of the real estate investment trust’s stock valued at $139,000 after acquiring an additional 1,006 shares during the last quarter. MetLife Investment Management LLC raised its holdings in CareTrust REIT by 57.6% in the 1st quarter. MetLife Investment Management LLC now owns 52,286 shares of the real estate investment trust’s stock valued at $1,009,000 after acquiring an additional 19,120 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in CareTrust REIT by 14.1% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 83,652 shares of the real estate investment trust’s stock valued at $1,614,000 after acquiring an additional 10,314 shares during the last quarter. Finally, Great West Life Assurance Co. Can raised its holdings in CareTrust REIT by 2.0% in the 1st quarter. Great West Life Assurance Co. Can now owns 164,296 shares of the real estate investment trust’s stock valued at $3,268,000 after acquiring an additional 3,223 shares during the last quarter. 92.24% of the stock is currently owned by institutional investors and hedge funds.

CareTrust REIT Price Performance

NASDAQ CTRE opened at $19.91 on Thursday. CareTrust REIT, Inc. has a 12 month low of $16.22 and a 12 month high of $21.46. The company has a debt-to-equity ratio of 1.08, a current ratio of 0.07 and a quick ratio of 0.07. The firm has a market capitalization of $1.98 billion, a PE ratio of 56.89 and a beta of 1.10. The company’s 50 day simple moving average is $20.21 and its 200 day simple moving average is $19.72.

CareTrust REIT Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, July 14th. Shareholders of record on Friday, June 30th were given a $0.28 dividend. This is a positive change from CareTrust REIT’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend was Thursday, June 29th. This represents a $1.12 annualized dividend and a yield of 5.63%. CareTrust REIT’s payout ratio is 320.01%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on CTRE. Berenberg Bank began coverage on shares of CareTrust REIT in a research note on Thursday, July 27th. They set a “buy” rating and a $23.00 price objective for the company. TheStreet cut shares of CareTrust REIT from a “b-” rating to a “c” rating in a research note on Friday, August 4th. StockNews.com began coverage on shares of CareTrust REIT in a research note on Thursday, August 17th. They set a “hold” rating for the company. Finally, BMO Capital Markets raised shares of CareTrust REIT from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $23.50 to $24.00 in a research note on Wednesday, August 16th. Three investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $21.83.

CareTrust REIT Company Profile

CareTrust REIT, Inc is a self-administered, publicly-traded real estate investment trust engaged in the ownership, acquisition, development and leasing of skilled nursing, seniors housing and other healthcare-related properties. With a nationwide portfolio of long-term net-leased properties, and a growing portfolio of quality operators leasing them, CareTrust REIT is pursuing both external and organic growth opportunities across the United States.