Sumitomo Mitsui Trust Holdings Inc. Grows Position in CareTrust REIT, Inc. (NASDAQ:CTRE)

Sumitomo Mitsui Trust Holdings Inc. raised its position in shares of CareTrust REIT, Inc. (NASDAQ:CTRE) by 23.1% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 137,586 shares of the real estate investment trust’s stock after buying an additional 25,813 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc.’s holdings in CareTrust REIT were worth $3,079,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Van ECK Associates Corp lifted its position in shares of CareTrust REIT by 4.3% during the third quarter. Van ECK Associates Corp now owns 11,730 shares of the real estate investment trust’s stock valued at $240,000 after buying an additional 486 shares during the last quarter. Exchange Traded Concepts LLC lifted its position in shares of CareTrust REIT by 0.8% during the fourth quarter. Exchange Traded Concepts LLC now owns 65,569 shares of the real estate investment trust’s stock valued at $1,467,000 after buying an additional 516 shares during the last quarter. MBM Wealth Consultants LLC lifted its position in shares of CareTrust REIT by 4.7% during the third quarter. MBM Wealth Consultants LLC now owns 13,108 shares of the real estate investment trust’s stock valued at $282,000 after buying an additional 592 shares during the last quarter. Daiwa Securities Group Inc. lifted its position in shares of CareTrust REIT by 2.2% during the third quarter. Daiwa Securities Group Inc. now owns 31,537 shares of the real estate investment trust’s stock valued at $647,000 after buying an additional 668 shares during the last quarter. Finally, Global Retirement Partners LLC raised its position in shares of CareTrust REIT by 113.9% in the 4th quarter. Global Retirement Partners LLC now owns 1,388 shares of the real estate investment trust’s stock valued at $31,000 after purchasing an additional 739 shares during the last quarter. 87.77% of the stock is owned by hedge funds and other institutional investors.

CareTrust REIT Price Performance

Shares of NASDAQ:CTRE opened at $23.80 on Thursday. CareTrust REIT, Inc. has a twelve month low of $18.18 and a twelve month high of $24.62. The company’s 50 day moving average is $23.60 and its 200 day moving average is $22.62. The company has a current ratio of 8.67, a quick ratio of 8.67 and a debt-to-equity ratio of 0.42. The company has a market cap of $3.21 billion, a PE ratio of 48.56 and a beta of 1.05.

CareTrust REIT Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were given a dividend of $0.29 per share. This is a positive change 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 dividend on an annualized basis and a dividend yield of 4.87%. CareTrust REIT’s dividend payout ratio (DPR) is 236.73%.

Analyst Ratings Changes

Several equities analysts recently commented on CTRE shares. Deutsche Bank Aktiengesellschaft started coverage on shares of CareTrust REIT in a research report on Tuesday, January 30th. They issued a “hold” rating and a $23.00 price objective for the company. KeyCorp increased 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 equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, CareTrust REIT currently has an average rating of “Moderate Buy” and an average price target of $23.57.

CareTrust REIT 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.