Daiwa Securities Group Inc. Increases Stake in CareTrust REIT, Inc. (NASDAQ:CTRE)

Daiwa Securities Group Inc. lifted its stake in CareTrust REIT, Inc. (NASDAQ:CTRE) by 13.4% in the 4th quarter, HoldingsChannel.com reports. The firm owned 35,774 shares of the real estate investment trust’s stock after acquiring an additional 4,237 shares during the period. Daiwa Securities Group Inc.’s holdings in CareTrust REIT were worth $801,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of CTRE. Wellington Management Group LLP raised its position in CareTrust REIT by 8.1% during the 3rd quarter. Wellington Management Group LLP now owns 7,211,404 shares of the real estate investment trust’s stock worth $147,834,000 after buying an additional 542,832 shares during the last quarter. Raymond James & Associates raised its position in CareTrust REIT by 189.5% during the 3rd quarter. Raymond James & Associates now owns 572,217 shares of the real estate investment trust’s stock worth $11,730,000 after buying an additional 374,593 shares during the last quarter. Adage Capital Partners GP L.L.C. raised its position in CareTrust REIT by 466.7% during the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 425,000 shares of the real estate investment trust’s stock worth $8,712,000 after buying an additional 350,000 shares during the last quarter. Jump Financial LLC purchased a new position in CareTrust REIT during the 3rd quarter worth approximately $4,645,000. Finally, Strs Ohio raised its position in CareTrust REIT by 38.9% during the 3rd quarter. Strs Ohio now owns 400,560 shares of the real estate investment trust’s stock worth $8,211,000 after buying an additional 112,200 shares during the last quarter. 87.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

CareTrust REIT Price Performance

Shares of NASDAQ CTRE opened at $23.95 on Friday. The firm has a market cap of $3.23 billion, a PE ratio of 48.88 and a beta of 1.05. The firm has a fifty day moving average of $23.62 and a 200 day moving average of $22.63. The company has a debt-to-equity ratio of 0.42, a quick ratio of 8.67 and a current ratio of 8.67. CareTrust REIT, Inc. has a one year low of $18.18 and a one year high of $24.62.

CareTrust REIT Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were issued a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 4.84%. The ex-dividend date of this dividend was Wednesday, March 27th. This is a positive change from CareTrust REIT’s previous quarterly dividend of $0.28. 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.