Pictet Asset Management SA Grows Stock Holdings in CareTrust REIT, Inc. (NASDAQ:CTRE)

Pictet Asset Management SA boosted its holdings in shares of CareTrust REIT, Inc. (NASDAQ:CTREGet Rating) by 10.1% during the second quarter, Holdings Channel.com reports. The firm owned 39,251 shares of the real estate investment trust’s stock after acquiring an additional 3,595 shares during the period. Pictet Asset Management SA’s holdings in CareTrust REIT were worth $724,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of CTRE. Quadrant Capital Group LLC raised its stake in CareTrust REIT by 297.7% during the first quarter. Quadrant Capital Group LLC now owns 1,754 shares of the real estate investment trust’s stock valued at $34,000 after purchasing an additional 1,313 shares in the last quarter. SeaCrest Wealth Management LLC purchased a new stake in CareTrust REIT during the second quarter valued at $61,000. MBM Wealth Consultants LLC raised its stake in CareTrust REIT by 45.7% during the first quarter. MBM Wealth Consultants LLC now owns 3,460 shares of the real estate investment trust’s stock valued at $67,000 after purchasing an additional 1,085 shares in the last quarter. Samalin Investment Counsel LLC purchased a new stake in CareTrust REIT during the first quarter valued at $69,000. Finally, US Bancorp DE raised its stake in CareTrust REIT by 16.2% during the first quarter. US Bancorp DE now owns 7,204 shares of the real estate investment trust’s stock valued at $139,000 after purchasing an additional 1,006 shares in the last quarter. Hedge funds and other institutional investors own 83.99% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on CTRE. Barclays reduced their target price on shares of CareTrust REIT from $20.00 to $19.00 and set an “equal weight” rating on the stock in a research note on Friday, October 21st. Raymond James reduced their target price on shares of CareTrust REIT from $23.00 to $22.00 and set a “strong-buy” rating on the stock in a research note on Tuesday, November 1st. Finally, StockNews.com began coverage on shares of CareTrust REIT in a research note on Wednesday, October 12th. They issued a “hold” rating on the stock. Five equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $20.92.

CareTrust REIT Trading Up 1.7 %

CTRE stock opened at $19.27 on Wednesday. The company has a market capitalization of $1.87 billion, a PE ratio of -481.75 and a beta of 1.11. CareTrust REIT, Inc. has a 12 month low of $15.90 and a 12 month high of $23.59. The firm’s 50-day moving average is $18.40 and its 200 day moving average is $19.10. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.18 and a quick ratio of 0.18.

CareTrust REIT Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 14th. Investors of record on Friday, September 30th were paid a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 5.71%. The ex-dividend date of this dividend was Thursday, September 29th. CareTrust REIT’s dividend payout ratio is presently -2,750.00%.

CareTrust REIT Profile

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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.

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Institutional Ownership by Quarter for CareTrust REIT (NASDAQ:CTRE)

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