CareTrust REIT, Inc. (NASDAQ:CTRE) Holdings Lifted by Van ECK Associates Corp

Van ECK Associates Corp grew its position in CareTrust REIT, Inc. (NASDAQ:CTRE) by 20.6% in the 2nd quarter, Holdings Channel.com reports. The firm owned 20,739 shares of the real estate investment trust’s stock after buying an additional 3,542 shares during the period. Van ECK Associates Corp’s holdings in CareTrust REIT were worth $521,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Foundations Investment Advisors LLC grew its position in CareTrust REIT by 5.4% in the 4th quarter. Foundations Investment Advisors LLC now owns 12,103 shares of the real estate investment trust’s stock worth $254,000 after purchasing an additional 624 shares during the last quarter. Allspring Global Investments Holdings LLC grew its position in CareTrust REIT by 4.1% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 22,946 shares of the real estate investment trust’s stock worth $559,000 after purchasing an additional 895 shares during the last quarter. New York State Common Retirement Fund grew its position in CareTrust REIT by 2.2% in the 4th quarter. New York State Common Retirement Fund now owns 41,516 shares of the real estate investment trust’s stock worth $929,000 after purchasing an additional 910 shares during the last quarter. GAMMA Investing LLC grew its position in CareTrust REIT by 187.7% in the 2nd quarter. GAMMA Investing LLC now owns 1,752 shares of the real estate investment trust’s stock worth $44,000 after purchasing an additional 1,143 shares during the last quarter. Finally, Rothschild Investment LLC bought a new position in CareTrust REIT in the 2nd quarter worth about $34,000. Institutional investors own 87.77% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on CTRE shares. Deutsche Bank Aktiengesellschaft increased their price objective on shares of CareTrust REIT from $23.00 to $27.00 and gave the company a “hold” rating in a report on Monday, July 1st. Wedbush started coverage on shares of CareTrust REIT in a report on Wednesday, May 29th. They issued a “neutral” rating and a $26.00 price objective for the company. Wells Fargo & Company increased their price objective on shares of CareTrust REIT from $24.00 to $26.00 and gave the company an “equal weight” rating in a report on Thursday, May 30th. Finally, Royal Bank of Canada increased their price objective on shares of CareTrust REIT from $27.00 to $31.00 and gave the company an “outperform” rating in a report on Thursday, August 22nd. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, CareTrust REIT currently has an average rating of “Hold” and a consensus price target of $26.67.

CareTrust REIT Stock Down 0.5 %

CTRE stock opened at $29.78 on Monday. CareTrust REIT, Inc. has a 12 month low of $19.79 and a 12 month high of $30.33. The firm has a market cap of $4.23 billion, a PE ratio of 57.27 and a beta of 1.10. The firm has a 50 day simple moving average of $27.52 and a 200 day simple moving average of $25.52. The company has a debt-to-equity ratio of 0.34, a current ratio of 13.37 and a quick ratio of 13.37.

CareTrust REIT (NASDAQ:CTRE) last released its earnings results on Thursday, August 1st. The real estate investment trust reported $0.07 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.29). The business had revenue of $68.89 million for the quarter, compared to analyst estimates of $66.36 million. CareTrust REIT had a net margin of 30.09% and a return on equity of 4.84%. During the same period in the prior year, the company earned $0.35 earnings per share. Equities research analysts forecast that CareTrust REIT, Inc. will post 1.48 earnings per share for the current fiscal year.

CareTrust REIT Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Friday, June 28th were paid a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 3.90%. The ex-dividend date of this dividend was Friday, June 28th. CareTrust REIT’s dividend payout ratio is 223.08%.

Insider Buying and Selling

In other CareTrust REIT news, CFO William M. Wagner sold 35,000 shares of CareTrust REIT stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $29.80, for a total transaction of $1,043,000.00. Following the completion of the sale, the chief financial officer now owns 257,439 shares of the company’s stock, valued at approximately $7,671,682.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.75% of the company’s stock.

CareTrust REIT Profile

CareTrust REIT, Inc is a self-administered, publicly-traded real estate investment trust engaged in the ownership, acquisition, development and leasing of skilled nursing, seniors housing and other healthcare-related properties. With a nationwide portfolio of long-term net-leased properties, and a growing portfolio of quality operators leasing them, CareTrust REIT is pursuing both external and organic growth opportunities across the United States.