CareTrust REIT, Inc. (NASDAQ:CTRE) Shares Bought by Principal Financial Group Inc.

Principal Financial Group Inc. increased its stake in CareTrust REIT, Inc. (NASDAQ:CTRE – Get Rating) by 0.6% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 630,045 shares of the real estate investment trust’s stock after acquiring an additional 3,683 shares during the period. Principal Financial Group Inc.’s holdings in CareTrust REIT were worth $11,706,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Evermay Wealth Management LLC acquired a new stake in shares of CareTrust REIT in the fourth quarter worth approximately $29,000. Lazard Asset Management LLC acquired a new stake in shares of CareTrust REIT in the third quarter worth approximately $32,000. IFP Advisors Inc boosted its position in shares of CareTrust REIT by 202.5% in the third quarter. IFP Advisors Inc now owns 2,901 shares of the real estate investment trust’s stock worth $51,000 after acquiring an additional 1,942 shares during the last quarter. Quadrant Capital Group LLC boosted its position in shares of CareTrust REIT by 97.6% in the third quarter. Quadrant Capital Group LLC now owns 4,490 shares of the real estate investment trust’s stock worth $81,000 after acquiring an additional 2,218 shares during the last quarter. Finally, Point72 Hong Kong Ltd acquired a new stake in shares of CareTrust REIT in the third quarter worth approximately $112,000. 85.01% of the stock is owned by institutional investors and hedge funds.

CareTrust REIT Trading Down 1.9 %

CTRE opened at $18.40 on Friday. CareTrust REIT, Inc. has a 52-week low of $16.22 and a 52-week high of $22.46. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.87. The firm has a market capitalization of $1.83 billion, a P/E ratio of 32.86 and a beta of 1.13. The firm’s 50 day moving average is $19.33 and its 200-day moving average is $19.46.

CareTrust REIT Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 14th. Stockholders of record on Friday, March 31st were given a dividend of $0.28 per share. The ex-dividend date was Thursday, March 30th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 6.09%. This is an increase from CareTrust REIT’s previous quarterly dividend of $0.28. CareTrust REIT’s dividend payout ratio (DPR) is presently 200.00%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Wells Fargo & Company assumed coverage on shares of CareTrust REIT in a report on Wednesday, April 19th. They issued an “equal weight” rating and a $21.00 price target on the stock. KeyCorp raised their price target on shares of CareTrust REIT from $21.00 to $22.00 and gave the company an “overweight” rating in a report on Tuesday, February 14th. TheStreet upgraded shares of CareTrust REIT from a “c” rating to a “b-” rating in a report on Tuesday, May 16th. Finally, StockNews.com initiated coverage on shares of CareTrust REIT in a research note on Thursday, May 18th. They set a “hold” rating on the stock. Four analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, CareTrust REIT has an average rating of “Moderate Buy” and an average target price of $21.10.

About CareTrust REIT

(Get Rating)

CareTrust REIT, Inc operates as real estate investment company, which engages in the ownership, acquisition, and leasing of healthcare-related properties. It offers independent living, memory care, and assisted, and skilled nursing facilities. The company was founded on October 29, 2013 and is headquartered in San Clemente, CA.