Envestnet Portfolio Solutions Inc. Makes New Investment in CareTrust REIT, Inc. (NASDAQ:CTRE)

Envestnet Portfolio Solutions Inc. acquired a new stake in CareTrust REIT, Inc. (NASDAQ:CTRE) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 8,454 shares of the real estate investment trust’s stock, valued at approximately $212,000.

Several other institutional investors have also recently added to or reduced their stakes in CTRE. Nomura Asset Management Co. Ltd. grew its holdings in CareTrust REIT by 41.4% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 155,100 shares of the real estate investment trust’s stock valued at $3,471,000 after buying an additional 45,400 shares during the period. Hazelview Securities Inc. acquired a new stake in shares of CareTrust REIT in the first quarter worth approximately $20,047,000. Teachers Retirement System of The State of Kentucky grew its holdings in CareTrust REIT by 32.3% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 125,276 shares of the real estate investment trust’s stock valued at $3,052,000 after purchasing an additional 30,619 shares during the period. Vanguard Group Inc. raised its stake in CareTrust REIT by 13.3% during the first quarter. Vanguard Group Inc. now owns 20,267,738 shares of the real estate investment trust’s stock worth $493,925,000 after purchasing an additional 2,376,832 shares during the period. Finally, Centersquare Investment Management LLC boosted its holdings in shares of CareTrust REIT by 1.6% in the 1st quarter. Centersquare Investment Management LLC now owns 2,869,111 shares of the real estate investment trust’s stock valued at $70,924,000 after purchasing an additional 45,733 shares during the last quarter. 87.77% of the stock is currently owned by institutional investors and hedge funds.

CareTrust REIT Stock Up 1.1 %

Shares of NASDAQ:CTRE opened at $29.21 on Friday. The company has a market capitalization of $4.15 billion, a price-to-earnings ratio of 56.16 and a beta of 1.09. The company has a 50 day moving average of $26.57 and a two-hundred day moving average of $24.95. CareTrust REIT, Inc. has a 52-week low of $19.66 and a 52-week high of $29.24. The company has a quick ratio of 12.80, a current ratio of 12.80 and a debt-to-equity ratio of 0.36.

CareTrust REIT (NASDAQ:CTRE) last released its quarterly earnings results on Thursday, August 1st. The real estate investment trust reported $0.07 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.29). CareTrust REIT had a net margin of 30.09% and a return on equity of 5.31%. The firm had revenue of $68.89 million for the quarter, compared to analyst estimates of $66.36 million. During the same period in the previous year, the business posted $0.35 earnings per share. As a group, analysts forecast that CareTrust REIT, Inc. will post 1.47 earnings per share for the current fiscal year.

CareTrust REIT Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Friday, June 28th were issued a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 3.97%. The ex-dividend date was Friday, June 28th. CareTrust REIT’s dividend payout ratio is currently 223.08%.

Analyst Ratings Changes

CTRE has been the subject of a number of research analyst reports. KeyCorp upped their price objective on CareTrust REIT from $25.00 to $27.00 and gave the stock an “overweight” rating in a report on Thursday, May 9th. Deutsche Bank Aktiengesellschaft raised their price objective on CareTrust REIT from $23.00 to $27.00 and gave the stock a “hold” rating in a report on Monday, July 1st. Royal Bank of Canada increased their target price on shares of CareTrust REIT from $27.00 to $31.00 and gave the stock an “outperform” rating in a research report on Thursday. Wedbush initiated coverage on shares of CareTrust REIT in a research report on Wednesday, May 29th. They set a “neutral” rating and a $26.00 price target on the stock. Finally, Wells Fargo & Company boosted their price objective on shares of CareTrust REIT from $24.00 to $26.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 30th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $26.67.

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.