Asset Management One Co. Ltd. Raises Stock Position in CareTrust REIT, Inc. $CTRE

Asset Management One Co. Ltd. raised its position in CareTrust REIT, Inc. (NASDAQ:CTRE) by 6.9% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 437,249 shares of the real estate investment trust’s stock after acquiring an additional 28,263 shares during the quarter. Asset Management One Co. Ltd. owned approximately 0.20% of CareTrust REIT worth $15,164,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in CTRE. Invesco Ltd. lifted its position in shares of CareTrust REIT by 201.8% during the 2nd quarter. Invesco Ltd. now owns 3,772,350 shares of the real estate investment trust’s stock valued at $115,434,000 after buying an additional 2,522,260 shares in the last quarter. Daiwa Securities Group Inc. grew its position in CareTrust REIT by 2,245.5% in the second quarter. Daiwa Securities Group Inc. now owns 1,510,264 shares of the real estate investment trust’s stock worth $46,214,000 after acquiring an additional 1,445,873 shares in the last quarter. Copeland Capital Management LLC boosted its stake in CareTrust REIT by 350.9% during the third quarter. Copeland Capital Management LLC now owns 1,716,101 shares of the real estate investment trust’s stock worth $59,514,000 after buying an additional 1,335,513 shares during the period. Adage Capital Partners GP L.L.C. purchased a new stake in CareTrust REIT in the 2nd quarter worth about $22,491,000. Finally, Bank of America Corp DE increased its stake in CareTrust REIT by 96.3% in the second quarter. Bank of America Corp DE now owns 896,561 shares of the real estate investment trust’s stock worth $27,435,000 after purchasing an additional 439,883 shares during the period. 87.77% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

CTRE has been the subject of a number of research reports. Royal Bank Of Canada upped their price objective on shares of CareTrust REIT from $36.00 to $41.00 and gave the stock an “outperform” rating in a research note on Monday, November 10th. Cantor Fitzgerald started coverage on CareTrust REIT in a research note on Wednesday, October 1st. They issued a “neutral” rating and a $37.00 target price for the company. Wells Fargo & Company increased their price target on CareTrust REIT from $38.00 to $41.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 25th. UBS Group assumed coverage on CareTrust REIT in a report on Tuesday, November 18th. They issued a “buy” rating and a $42.00 price target for the company. Finally, KeyCorp upped their price objective on shares of CareTrust REIT from $36.00 to $40.00 and gave the stock an “overweight” rating in a research report on Thursday, December 4th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $37.78.

CareTrust REIT Price Performance

NASDAQ:CTRE opened at $36.61 on Wednesday. CareTrust REIT, Inc. has a 52 week low of $24.79 and a 52 week high of $38.32. The company has a market capitalization of $8.18 billion, a P/E ratio of 46.34, a P/E/G ratio of 1.25 and a beta of 0.75. The stock’s fifty day moving average is $36.48 and its two-hundred day moving average is $34.28. The company has a quick ratio of 3.82, a current ratio of 3.82 and a debt-to-equity ratio of 0.14.

CareTrust REIT Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st will be paid a $0.335 dividend. The ex-dividend date of this dividend is Wednesday, December 31st. This represents a $1.34 dividend on an annualized basis and a dividend yield of 3.7%. CareTrust REIT’s payout ratio is presently 100.00%.

CareTrust REIT Company 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.