American Century Companies Inc. Reduces Stake in CareTrust REIT, Inc. $CTRE

American Century Companies Inc. lessened its holdings in CareTrust REIT, Inc. (NASDAQ:CTRE) by 6.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 699,832 shares of the real estate investment trust’s stock after selling 49,388 shares during the quarter. American Century Companies Inc. owned about 0.31% of CareTrust REIT worth $24,270,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of CTRE. Vanguard Group Inc. increased its stake 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 during the period. State Street Corp lifted its position in CareTrust REIT by 2.1% during the second quarter. State Street Corp now owns 10,929,194 shares of the real estate investment trust’s stock valued at $338,026,000 after purchasing an additional 225,460 shares during the period. Geode Capital Management LLC boosted its holdings in CareTrust REIT by 1.7% in the second quarter. Geode Capital Management LLC now owns 5,003,751 shares of the real estate investment trust’s stock valued at $153,132,000 after purchasing an additional 84,904 shares during the last quarter. Invesco Ltd. boosted its holdings in 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 last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in CareTrust REIT by 4.6% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 3,095,764 shares of the real estate investment trust’s stock worth $94,730,000 after purchasing an additional 135,392 shares during the period. 87.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. UBS Group lifted their price objective on shares of CareTrust REIT from $44.00 to $48.00 and gave the company a “buy” rating in a report on Wednesday, February 18th. Citizens Jmp began coverage on CareTrust REIT in a research report on Thursday, January 22nd. They set a “market outperform” rating and a $44.00 price target on the stock. Jefferies Financial Group raised their price objective on CareTrust REIT from $41.00 to $43.00 and gave the company a “buy” rating in a report on Monday, December 15th. Royal Bank Of Canada boosted their price objective on CareTrust REIT from $41.00 to $44.00 and gave the company an “outperform” rating in a research report on Tuesday, February 24th. Finally, Wells Fargo & Company upped their target price on CareTrust REIT from $38.00 to $41.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 25th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, CareTrust REIT presently has an average rating of “Moderate Buy” and an average price target of $40.18.

CareTrust REIT Stock Up 1.3%

Shares of NASDAQ CTRE opened at $39.89 on Monday. The firm has a market cap of $8.90 billion, a price-to-earnings ratio of 50.49, a price-to-earnings-growth ratio of 1.25 and a beta of 0.74. The company’s 50-day simple moving average is $38.24 and its 200-day simple moving average is $36.37. 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, Inc. has a 52-week low of $25.50 and a 52-week high of $41.72.

CareTrust REIT Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 15th. Investors of record on Wednesday, December 31st were issued a $0.335 dividend. This represents a $1.34 annualized dividend and a yield of 3.4%. The ex-dividend date was Wednesday, December 31st. CareTrust REIT’s payout ratio is presently 86.45%.

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.