Advisors Preferred LLC Takes Position in CareTrust REIT, Inc. $CTRE

Advisors Preferred LLC purchased a new stake in CareTrust REIT, Inc. (NASDAQ:CTRE) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 27,431 shares of the real estate investment trust’s stock, valued at approximately $967,000.

Several other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. increased its position in shares of CareTrust REIT by 14.1% in the third quarter. Vanguard Group Inc. now owns 32,973,216 shares of the real estate investment trust’s stock worth $1,143,511,000 after acquiring an additional 4,067,975 shares in the last quarter. Invesco Ltd. boosted its position in 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 worth $115,434,000 after purchasing an additional 2,522,260 shares during the period. Daiwa Securities Group Inc. increased its holdings 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 purchasing an additional 1,445,873 shares in the last quarter. Copeland Capital Management LLC increased its holdings in CareTrust REIT by 350.9% in the 3rd quarter. Copeland Capital Management LLC now owns 1,716,101 shares of the real estate investment trust’s stock valued at $59,514,000 after purchasing an additional 1,335,513 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. purchased a new position in CareTrust REIT in the second quarter valued at about $22,491,000. 87.77% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on CTRE shares. Citizens Jmp started coverage on CareTrust REIT in a research report on Thursday, January 22nd. They issued a “market outperform” rating and a $44.00 target price for the company. Wells Fargo & Company upped 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. Cantor Fitzgerald increased their price objective on shares of CareTrust REIT from $37.00 to $42.00 and gave the company a “neutral” rating in a research report on Tuesday. Citigroup began coverage on shares of CareTrust REIT in a research report on Thursday, January 22nd. They set a “market outperform” rating on the stock. Finally, KeyCorp upped their target price on shares of CareTrust REIT from $36.00 to $40.00 and gave the company an “overweight” rating in a research note on Thursday, December 4th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, CareTrust REIT presently has a consensus rating of “Moderate Buy” and an average target price of $39.91.

CareTrust REIT Stock Performance

Shares of CTRE opened at $39.99 on Friday. The firm has a market cap of $8.93 billion, a price-to-earnings ratio of 50.62, a PEG ratio of 1.25 and a beta of 0.75. The company has a quick ratio of 3.82, a current ratio of 3.82 and a debt-to-equity ratio of 0.14. The business’s 50 day moving average is $37.49 and its two-hundred day moving average is $35.86. CareTrust REIT, Inc. has a 52-week low of $24.79 and a 52-week high of $41.36.

CareTrust REIT Announces Dividend

The business also recently disclosed 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. This represents a $1.34 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date was Wednesday, December 31st. CareTrust REIT’s dividend payout ratio is 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.