CareTrust REIT, Inc. (NASDAQ:CTRE) Shares Sold by Arizona State Retirement System

Arizona State Retirement System reduced its stake in CareTrust REIT, Inc. (NASDAQ:CTRE) by 1.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 27,808 shares of the real estate investment trust’s stock after selling 515 shares during the period. Arizona State Retirement System’s holdings in CareTrust REIT were worth $622,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Graham Capital Management L.P. acquired a new position in shares of CareTrust REIT during the third quarter worth approximately $943,000. Wellington Management Group LLP boosted its position in shares of CareTrust REIT by 8.1% during the third quarter. Wellington Management Group LLP now owns 7,211,404 shares of the real estate investment trust’s stock worth $147,834,000 after buying an additional 542,832 shares during the period. Econ Financial Services Corp acquired a new position in shares of CareTrust REIT during the third quarter worth approximately $544,000. Deutsche Bank AG boosted its position in shares of CareTrust REIT by 26.3% during the third quarter. Deutsche Bank AG now owns 167,060 shares of the real estate investment trust’s stock worth $3,425,000 after buying an additional 34,768 shares during the period. Finally, Adage Capital Partners GP L.L.C. boosted its position in shares of CareTrust REIT by 466.7% during the third quarter. Adage Capital Partners GP L.L.C. now owns 425,000 shares of the real estate investment trust’s stock worth $8,712,000 after buying an additional 350,000 shares during the period. 87.77% of the stock is currently owned by institutional investors and hedge funds.

CareTrust REIT Price Performance

NASDAQ CTRE opened at $23.69 on Friday. The stock has a market capitalization of $3.20 billion, a P/E ratio of 48.35 and a beta of 1.05. CareTrust REIT, Inc. has a 1 year low of $18.18 and a 1 year high of $24.62. The business’s fifty day moving average is $23.56 and its two-hundred day moving average is $22.55. The company has a debt-to-equity ratio of 0.42, a quick ratio of 8.67 and a current ratio of 8.67.

CareTrust REIT Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were paid a dividend of $0.29 per share. This is an increase from CareTrust REIT’s previous quarterly dividend of $0.28. This represents a $1.16 annualized dividend and a yield of 4.90%. The ex-dividend date of this dividend was Wednesday, March 27th. CareTrust REIT’s payout ratio is 236.73%.

Analysts Set New Price Targets

CTRE has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft started coverage on CareTrust REIT in a research report on Tuesday, January 30th. They set a “hold” rating and a $23.00 price objective for the company. KeyCorp upped their target price on CareTrust REIT from $22.00 to $25.00 and gave the stock an “overweight” rating in a research report on Friday, January 5th. Finally, Royal Bank of Canada cut their target price on CareTrust REIT from $25.00 to $24.00 and set an “outperform” rating for the company in a research report on Wednesday, January 31st. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $23.57.

CareTrust REIT Company 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.