CareTrust REIT, Inc. $CTRE Shares Acquired by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. grew its stake in CareTrust REIT, Inc. (NASDAQ:CTRE) by 139.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 528,149 shares of the real estate investment trust’s stock after purchasing an additional 307,338 shares during the period. Envestnet Asset Management Inc. owned approximately 0.24% of CareTrust REIT worth $18,316,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of CTRE. Royal Bank of Canada boosted its position in shares of CareTrust REIT by 36.4% during the 1st quarter. Royal Bank of Canada now owns 179,501 shares of the real estate investment trust’s stock worth $5,129,000 after purchasing an additional 47,936 shares in the last quarter. NewEdge Advisors LLC lifted its stake in shares of CareTrust REIT by 11.3% in the first quarter. NewEdge Advisors LLC now owns 33,628 shares of the real estate investment trust’s stock valued at $961,000 after purchasing an additional 3,408 shares during the period. Aberdeen Group plc boosted its holdings in CareTrust REIT by 9.8% during the second quarter. Aberdeen Group plc now owns 69,450 shares of the real estate investment trust’s stock worth $2,125,000 after buying an additional 6,214 shares in the last quarter. Vanguard Personalized Indexing Management LLC grew its position in CareTrust REIT by 30.5% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 24,050 shares of the real estate investment trust’s stock worth $736,000 after buying an additional 5,620 shares during the period. Finally, CWM LLC increased its holdings in CareTrust REIT by 47.6% in the second quarter. CWM LLC now owns 2,955 shares of the real estate investment trust’s stock valued at $90,000 after buying an additional 953 shares in the last quarter. 87.77% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have issued reports on CTRE shares. Citizens Jmp assumed coverage on shares of CareTrust REIT in a research report on Thursday, January 22nd. They set a “market outperform” rating and a $44.00 target price for the company. 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. UBS Group upped their target price on CareTrust REIT from $42.00 to $43.00 and gave the company a “buy” rating in a research note on Thursday, January 8th. Jefferies Financial Group increased their target price on CareTrust REIT from $41.00 to $43.00 and gave the company a “buy” rating in a report on Monday, December 15th. Finally, Wells Fargo & Company boosted their price target on CareTrust REIT from $38.00 to $41.00 and gave the stock an “overweight” rating in a report on Tuesday, November 25th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, CareTrust REIT presently has an average rating of “Moderate Buy” and an average price target of $39.00.

CareTrust REIT Trading Down 0.3%

CTRE opened at $40.02 on Friday. CareTrust REIT, Inc. has a 12-month low of $24.79 and a 12-month high of $40.50. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.82 and a quick ratio of 3.82. The stock has a market capitalization of $8.94 billion, a PE ratio of 50.65, a P/E/G ratio of 1.25 and a beta of 0.75. The firm’s fifty day moving average price is $37.15 and its 200 day moving average price is $35.58.

CareTrust REIT Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st were paid a dividend of $0.335 per share. The ex-dividend date of this dividend was Wednesday, December 31st. This represents a $1.34 annualized dividend and a yield of 3.3%. CareTrust REIT’s payout ratio is presently 86.45%.

About CareTrust REIT

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.