CareTrust REIT, Inc. $CTRE Shares Acquired by Bank of New York Mellon Corp

Bank of New York Mellon Corp grew its holdings in CareTrust REIT, Inc. (NYSE:CTRE) by 5.2% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 2,558,104 shares of the company’s stock after acquiring an additional 127,138 shares during the quarter. Bank of New York Mellon Corp owned about 1.15% of CareTrust REIT worth $93,755,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in CTRE. Kemnay Advisory Services Inc. acquired a new position in CareTrust REIT in the fourth quarter valued at approximately $27,000. Transamerica Financial Advisors LLC raised its holdings in CareTrust REIT by 520.0% during the fourth quarter. Transamerica Financial Advisors LLC now owns 868 shares of the company’s stock worth $32,000 after purchasing an additional 728 shares in the last quarter. Allworth Financial LP raised its holdings in CareTrust REIT by 114.0% during the third quarter. Allworth Financial LP now owns 1,042 shares of the company’s stock worth $36,000 after purchasing an additional 555 shares in the last quarter. Mcguire Capital Advisors Inc. purchased a new stake in shares of CareTrust REIT during the 4th quarter worth approximately $40,000. Finally, EverSource Wealth Advisors LLC lifted its position in shares of CareTrust REIT by 134.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,124 shares of the company’s stock worth $34,000 after buying an additional 644 shares during the last quarter. Institutional investors and hedge funds own 87.77% of the company’s stock.

CareTrust REIT Price Performance

CTRE stock opened at $42.39 on Tuesday. The company has a market capitalization of $10.01 billion, a P/E ratio of 27.17, a PEG ratio of 1.93 and a beta of 0.76. CareTrust REIT, Inc. has a twelve month low of $30.26 and a twelve month high of $43.10. The business has a 50 day simple moving average of $39.95 and a 200-day simple moving average of $39.04. The company has a current ratio of 2.38, a quick ratio of 2.37 and a debt-to-equity ratio of 0.22.

CareTrust REIT Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were paid a dividend of $0.39 per share. 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 is currently 100.00%.

Analyst Upgrades and Downgrades

CTRE has been the topic of a number of recent analyst reports. Mizuho set a $45.00 target price on shares of CareTrust REIT in a research report on Friday, May 22nd. Raymond James Financial assumed coverage on shares of CareTrust REIT in a research report on Tuesday, June 16th. They issued an “outperform” rating and a $43.00 price target for the company. Weiss Ratings upgraded shares of CareTrust REIT from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Monday, July 6th. Citigroup reaffirmed a “market outperform” rating on shares of CareTrust REIT in a report on Wednesday, June 10th. Finally, KeyCorp reiterated an “overweight” rating and set a $46.00 target price on shares of CareTrust REIT in a research report on Friday, May 29th. Two analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $44.82.

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.