California Public Employees Retirement System Reduces Stock Position in CareTrust REIT, Inc. $CTRE

California Public Employees Retirement System cut its holdings in CareTrust REIT, Inc. (NYSE:CTRE) by 4.9% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 504,771 shares of the company’s stock after selling 26,286 shares during the period. California Public Employees Retirement System owned about 0.23% of CareTrust REIT worth $18,500,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. Vanguard Group Inc. grew its position in CareTrust REIT by 0.6% in the fourth 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 in the last quarter. State Street Corp raised its position in CareTrust REIT by 1.8% during the fourth 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 lifted its stake 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 valued at $446,792,000 after purchasing an additional 1,893,143 shares during the last quarter. T. Rowe Price Investment Management Inc. lifted its stake 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 valued at $234,820,000 after purchasing an additional 3,379,732 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in shares of CareTrust REIT by 7.2% in the 4th quarter. Geode Capital Management LLC now owns 6,092,398 shares of the company’s stock valued at $220,332,000 after purchasing an additional 409,411 shares during the last quarter. 87.77% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Citigroup reissued a “market outperform” rating on shares of CareTrust REIT in a research report on Wednesday, June 10th. KeyCorp restated an “overweight” rating and issued a $46.00 price target on shares of CareTrust REIT in a research report on Friday, May 29th. Zacks Research raised shares of CareTrust REIT from a “strong sell” rating to a “hold” rating in a research note on Monday, May 25th. Mizuho set a $45.00 price objective on shares of CareTrust REIT in a research report on Friday, May 22nd. Finally, Raymond James Financial initiated coverage on shares of CareTrust REIT in a research report on Tuesday, June 16th. They set an “outperform” rating and a $43.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $44.82.

CareTrust REIT Price Performance

CareTrust REIT stock opened at $42.35 on Friday. The stock has a market cap of $10.00 billion, a price-to-earnings ratio of 27.15, a price-to-earnings-growth ratio of 1.91 and a beta of 0.76. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.38 and a quick ratio of 2.37. CareTrust REIT, Inc. has a 1 year low of $30.51 and a 1 year high of $43.60. The firm has a 50-day moving average of $39.99 and a two-hundred day moving average of $39.18.

CareTrust REIT Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were paid a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 3.7%. The ex-dividend date of this dividend was Tuesday, June 30th. CareTrust REIT’s payout ratio 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.