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

Bailard Inc. reduced its stake in CareTrust REIT, Inc. (NASDAQ:CTRE) by 41.1% during the 4th quarter, Holdings Channel reports. The fund owned 10,838 shares of the real estate investment trust’s stock after selling 7,562 shares during the period. Bailard Inc.’s holdings in CareTrust REIT were worth $243,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. ORG Partners LLC purchased a new position in shares of CareTrust REIT during the 3rd quarter worth $31,000. Global Retirement Partners LLC lifted its position in CareTrust REIT by 113.9% during the fourth quarter. Global Retirement Partners LLC now owns 1,388 shares of the real estate investment trust’s stock worth $31,000 after buying an additional 739 shares during the period. AlphaMark Advisors LLC boosted its stake in CareTrust REIT by 245.2% in the 4th quarter. AlphaMark Advisors LLC now owns 3,625 shares of the real estate investment trust’s stock worth $81,000 after buying an additional 2,575 shares during the last quarter. Ninepoint Partners LP purchased a new stake in CareTrust REIT in the 3rd quarter valued at about $113,000. Finally, Commonwealth Equity Services LLC increased its stake in shares of CareTrust REIT by 7.6% during the 3rd quarter. Commonwealth Equity Services LLC now owns 11,611 shares of the real estate investment trust’s stock valued at $238,000 after acquiring an additional 817 shares during the last quarter. Institutional investors and hedge funds own 87.77% of the company’s stock.

CareTrust REIT Trading Up 1.5 %

CTRE opened at $24.67 on Tuesday. The firm has a market capitalization of $3.33 billion, a P/E ratio of 50.35 and a beta of 1.05. The firm’s 50 day moving average is $23.72 and its 200-day moving average is $22.70. The company has a quick ratio of 8.67, a current ratio of 8.67 and a debt-to-equity ratio of 0.42. CareTrust REIT, Inc. has a 52-week low of $18.18 and a 52-week high of $24.71.

CareTrust REIT Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were paid a $0.29 dividend. This is a boost 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 4.70%. CareTrust REIT’s payout ratio is 236.73%.

Analyst Ratings Changes

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

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.