Allspring Global Investments Holdings LLC Has $24.12 Million Stock Holdings in CareTrust REIT, Inc. $CTRE

Allspring Global Investments Holdings LLC boosted its position in CareTrust REIT, Inc. (NYSE:CTRE) by 38.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 649,559 shares of the company’s stock after acquiring an additional 179,499 shares during the period. Allspring Global Investments Holdings LLC owned 0.29% of CareTrust REIT worth $24,118,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CTRE. Vanguard Group Inc. grew its holdings in CareTrust REIT by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 33,184,181 shares of the company’s stock worth $1,199,940,000 after acquiring an additional 210,965 shares during the period. State Street Corp lifted its stake in shares of CareTrust REIT by 1.8% in the 4th quarter. State Street Corp now owns 12,426,213 shares of the company’s stock valued at $453,411,000 after purchasing an additional 219,641 shares during the period. Wellington Management Group LLP boosted its position in shares of CareTrust REIT by 18.1% in the 4th quarter. Wellington Management Group LLP now owns 12,355,966 shares of the company’s stock worth $446,792,000 after purchasing an additional 1,893,143 shares during the last quarter. T. Rowe Price Investment Management Inc. boosted its position in shares of CareTrust REIT by 108.5% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 6,493,898 shares of the company’s stock worth $234,820,000 after purchasing an additional 3,379,732 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in CareTrust REIT by 7.2% in the fourth quarter. Geode Capital Management LLC now owns 6,092,398 shares of the company’s stock valued at $220,332,000 after acquiring an additional 409,411 shares during the period. 87.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on CTRE shares. KeyCorp reaffirmed an “overweight” rating and set a $46.00 price target on shares of CareTrust REIT in a research report on Friday, May 29th. Citigroup reissued a “market outperform” rating on shares of CareTrust REIT in a research note on Wednesday, June 10th. BMO Capital Markets raised their target price on shares of CareTrust REIT from $46.00 to $47.00 and gave the stock an “outperform” rating in a report on Monday, June 15th. Zacks Research raised shares of CareTrust REIT from a “strong sell” rating to a “hold” rating in a research note on Monday, May 25th. Finally, Mizuho set a $45.00 price target on shares of CareTrust REIT in a report on Friday, May 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, CareTrust REIT presently has an average rating of “Buy” and a consensus target price of $44.82.

CareTrust REIT Stock Performance

CTRE opened at $42.39 on Tuesday. The business’s 50-day simple moving average is $39.95 and its 200 day simple moving average is $39.04. CareTrust REIT, Inc. has a 52-week low of $30.26 and a 52-week high of $43.10. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.37 and a current ratio of 2.38. The firm has a market capitalization of $10.01 billion, a PE ratio of 27.17, a PEG ratio of 1.93 and a beta of 0.76.

CareTrust REIT Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were paid a $0.39 dividend. The ex-dividend date was Tuesday, June 30th. This represents a $1.56 dividend on an annualized basis and a yield of 3.7%. CareTrust REIT’s dividend payout ratio (DPR) is currently 100.00%.

CareTrust REIT Profile

CareTrust REIT, Inc is a real estate investment trust based in Deerfield Beach, Florida, specializing in the ownership, acquisition and management of net-leased healthcare properties. The company primarily focuses on seniors housing and post-acute care facilities, entering into long-term, triple-net lease agreements with leading operators in the skilled nursing, assisted living, memory care, inpatient rehabilitation and specialty hospital sectors. Through its portfolio, CareTrust REIT aims to provide investors with stable and predictable rental income while supporting the ongoing demand for quality healthcare real estate across the United States.

Since its initial public offering in September 2013, CareTrust REIT has pursued a disciplined acquisition strategy, targeting properties in primary and select secondary markets.