Dimensional Fund Advisors LP Increases Stock Position in CareTrust REIT, Inc. $CTRE

Dimensional Fund Advisors LP increased its holdings in CareTrust REIT, Inc. (NYSE:CTRE) by 1.9% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,333,252 shares of the company’s stock after buying an additional 61,417 shares during the period. Dimensional Fund Advisors LP owned 1.49% of CareTrust REIT worth $122,164,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of CTRE. Kemnay Advisory Services Inc. bought a new position in CareTrust REIT in the 4th quarter worth about $27,000. Transamerica Financial Advisors LLC lifted its stake in CareTrust REIT by 520.0% in the 4th 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 boosted its holdings in CareTrust REIT by 114.0% in the 3rd quarter. Allworth Financial LP now owns 1,042 shares of the company’s stock valued at $36,000 after purchasing an additional 555 shares during the period. Mcguire Capital Advisors Inc. bought a new position in CareTrust REIT in the 4th quarter valued at $40,000. Finally, EverSource Wealth Advisors LLC grew 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 valued at $34,000 after purchasing an additional 644 shares in the last quarter. 87.77% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on CTRE. Weiss Ratings downgraded CareTrust REIT from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Tuesday, July 21st. Wells Fargo & Company boosted their target price on CareTrust REIT from $42.00 to $47.00 and gave the stock an “overweight” rating in a research report on Monday, June 1st. Citigroup restated a “market outperform” rating on shares of CareTrust REIT in a research report on Wednesday, June 10th. Mizuho set a $45.00 target price on CareTrust REIT in a research note on Friday, May 22nd. Finally, BMO Capital Markets raised their price target on CareTrust REIT from $46.00 to $47.00 and gave the company an “outperform” rating in a report on Monday, June 15th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $44.82.

CareTrust REIT Stock Down 0.7%

CTRE opened at $42.93 on Tuesday. The stock has a market cap of $10.14 billion, a PE ratio of 27.52, a P/E/G ratio of 1.95 and a beta of 0.76. The company has a quick ratio of 2.37, a current ratio of 2.38 and a debt-to-equity ratio of 0.22. CareTrust REIT, Inc. has a 52 week low of $30.51 and a 52 week high of $43.60. The business’s fifty day simple moving average is $40.06 and its 200 day simple moving average is $39.27.

CareTrust REIT Dividend Announcement

The company also recently announced 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 of this dividend was Tuesday, June 30th. This represents a $1.56 annualized dividend and a yield of 3.6%. CareTrust REIT’s dividend payout ratio is currently 100.00%.

CareTrust REIT Company 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.