Zurcher Kantonalbank Zurich Cantonalbank Sells 2,792 Shares of CareTrust REIT, Inc. (NASDAQ:CTRE)

Zurcher Kantonalbank Zurich Cantonalbank reduced its position in shares of CareTrust REIT, Inc. (NASDAQ:CTRE) by 6.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 37,593 shares of the real estate investment trust’s stock after selling 2,792 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in CareTrust REIT were worth $841,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. ORG Partners LLC bought a new position in shares of CareTrust REIT during the 3rd quarter worth approximately $31,000. Global Retirement Partners LLC boosted 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 purchasing an additional 739 shares during the period. AlphaMark Advisors LLC increased its holdings in shares of CareTrust REIT by 245.2% in the fourth quarter. AlphaMark Advisors LLC now owns 3,625 shares of the real estate investment trust’s stock valued at $81,000 after purchasing an additional 2,575 shares during the last quarter. Ninepoint Partners LP bought a new position in shares of CareTrust REIT in the third quarter valued at about $113,000. Finally, Commonwealth Equity Services LLC lifted 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 worth $238,000 after buying an additional 817 shares during the last quarter. Institutional investors and hedge funds own 87.77% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. Deutsche Bank Aktiengesellschaft initiated 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. Royal Bank of Canada decreased their target price on CareTrust REIT from $25.00 to $24.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 31st. Finally, KeyCorp increased their target price on CareTrust REIT from $22.00 to $25.00 and gave the stock an “overweight” rating in a research note on Friday, January 5th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $23.57.

CareTrust REIT Stock Up 1.5 %

Shares of CTRE opened at $24.67 on Tuesday. The company has a current ratio of 8.67, a quick ratio of 8.67 and a debt-to-equity ratio of 0.42. CareTrust REIT, Inc. has a 12 month low of $18.18 and a 12 month high of $24.71. The firm’s 50 day moving average is $23.72 and its 200-day moving average is $22.70. The stock has a market capitalization of $3.33 billion, a PE ratio of 50.35 and a beta of 1.05.

CareTrust REIT Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were paid a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 4.70%. 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 dividend payout ratio (DPR) is 236.73%.

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.