Arizona State Retirement System Has $622,000 Stake in CareTrust REIT, Inc. (NASDAQ:CTRE)

Arizona State Retirement System reduced its holdings in CareTrust REIT, Inc. (NASDAQ:CTRE) by 1.8% during the 4th quarter, Holdings Channel reports. The institutional investor owned 27,808 shares of the real estate investment trust’s stock after selling 515 shares during the quarter. Arizona State Retirement System’s holdings in CareTrust REIT were worth $622,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Graham Capital Management L.P. acquired a new stake in CareTrust REIT in the 3rd quarter valued at $943,000. Wellington Management Group LLP increased its stake in CareTrust REIT by 8.1% in the 3rd quarter. Wellington Management Group LLP now owns 7,211,404 shares of the real estate investment trust’s stock valued at $147,834,000 after buying an additional 542,832 shares during the last quarter. Econ Financial Services Corp acquired a new stake in CareTrust REIT in the 3rd quarter valued at $544,000. Deutsche Bank AG increased its stake in CareTrust REIT by 26.3% in the 3rd quarter. Deutsche Bank AG now owns 167,060 shares of the real estate investment trust’s stock valued at $3,425,000 after buying an additional 34,768 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. increased its stake in CareTrust REIT by 466.7% in the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 425,000 shares of the real estate investment trust’s stock valued at $8,712,000 after buying an additional 350,000 shares during the last quarter. 87.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft assumed coverage on shares of CareTrust REIT in a research note on Tuesday, January 30th. They issued a “hold” rating and a $23.00 price target on the stock. KeyCorp lifted their price objective on shares of CareTrust REIT from $22.00 to $25.00 and gave the company an “overweight” rating in a research report on Friday, January 5th. Finally, Royal Bank of Canada decreased their price objective on shares of CareTrust REIT from $25.00 to $24.00 and set an “outperform” rating for the company in a research report on Wednesday, January 31st. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $23.57.

CareTrust REIT Stock Performance

Shares of CTRE opened at $23.69 on Friday. The firm has a 50-day moving average of $23.56 and a 200-day moving average of $22.55. CareTrust REIT, Inc. has a one year low of $18.18 and a one year high of $24.62. The company has a market cap of $3.20 billion, a PE ratio of 48.35 and a beta of 1.05. The company has a debt-to-equity ratio of 0.42, a current ratio of 8.67 and a quick ratio of 8.67.

CareTrust REIT Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were issued a dividend of $0.29 per share. This is an increase from CareTrust REIT’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $1.16 annualized dividend and a dividend yield of 4.90%. CareTrust REIT’s payout ratio is presently 236.73%.

About CareTrust REIT

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.