Copeland Capital Management LLC Has $59.51 Million Stake in CareTrust REIT, Inc. $CTRE

Copeland Capital Management LLC lifted its stake in CareTrust REIT, Inc. (NASDAQ:CTRE) by 350.9% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,716,101 shares of the real estate investment trust’s stock after acquiring an additional 1,335,513 shares during the period. CareTrust REIT accounts for about 1.2% of Copeland Capital Management LLC’s investment portfolio, making the stock its 28th largest position. Copeland Capital Management LLC owned approximately 0.79% of CareTrust REIT worth $59,514,000 as of its most recent filing with the SEC.

Other large investors have also recently added to or reduced their stakes in the company. Invesco Ltd. raised its position in shares of CareTrust REIT by 201.8% in the second quarter. Invesco Ltd. now owns 3,772,350 shares of the real estate investment trust’s stock valued at $115,434,000 after purchasing an additional 2,522,260 shares during the period. Daiwa Securities Group Inc. grew its stake in CareTrust REIT by 2,245.5% in the 2nd quarter. Daiwa Securities Group Inc. now owns 1,510,264 shares of the real estate investment trust’s stock valued at $46,214,000 after buying an additional 1,445,873 shares during the last quarter. Adage Capital Partners GP L.L.C. bought a new position in CareTrust REIT in the 2nd quarter worth $22,491,000. Alyeska Investment Group L.P. lifted its position in CareTrust REIT by 51.3% during the 1st quarter. Alyeska Investment Group L.P. now owns 2,094,848 shares of the real estate investment trust’s stock worth $59,871,000 after acquiring an additional 710,006 shares during the last quarter. Finally, Bank of America Corp DE boosted its holdings in CareTrust REIT by 96.3% during the second quarter. Bank of America Corp DE now owns 896,561 shares of the real estate investment trust’s stock valued at $27,435,000 after acquiring an additional 439,883 shares during the period. Institutional investors own 87.77% of the company’s stock.

CareTrust REIT Trading Up 1.0%

Shares of CTRE stock opened at $37.04 on Tuesday. The firm has a fifty day moving average of $36.33 and a 200-day moving average of $33.98. The stock has a market cap of $8.27 billion, a price-to-earnings ratio of 46.89, a P/E/G ratio of 1.25 and a beta of 0.77. CareTrust REIT, Inc. has a 52-week low of $24.79 and a 52-week high of $38.32. The company has a debt-to-equity ratio of 0.14, a quick ratio of 3.82 and a current ratio of 3.82.

CareTrust REIT Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st will be paid a dividend of $0.335 per share. The ex-dividend date is Wednesday, December 31st. This represents a $1.34 dividend on an annualized basis and a yield of 3.6%. CareTrust REIT’s dividend payout ratio (DPR) is currently 100.00%.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Wells Fargo & Company lifted their price objective on CareTrust REIT from $38.00 to $41.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 25th. UBS Group started coverage on CareTrust REIT in a research report on Tuesday, November 18th. They issued a “buy” rating and a $42.00 price target on the stock. Raymond James Financial set a $39.00 price objective on CareTrust REIT and gave the company a “strong-buy” rating in a research report on Tuesday, September 2nd. KeyCorp raised their price objective on shares of CareTrust REIT from $36.00 to $40.00 and gave the stock an “overweight” rating in a research note on Thursday, December 4th. Finally, Jefferies Financial Group upped their target price on shares of CareTrust REIT from $41.00 to $43.00 and gave the company a “buy” rating in a research note on Monday, December 15th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $37.78.

CareTrust REIT Profile

CareTrust REIT, Inc is a healthcare-focused real estate investment trust that acquires and manages net-leased properties serving the senior housing and medical markets. The company’s portfolio spans skilled nursing facilities, assisted living communities, independent living properties, medical office buildings and life science facilities. By structuring leases on a triple-net basis, CareTrust REIT offers long-term, stable rental income streams while allowing its tenants to operate and maintain their specialized healthcare facilities.

The company’s assets are geographically diversified across the United States, with a concentration in regions experiencing aging demographics and growing demand for senior care services.