Allspring Global Investments Holdings LLC Sells 6,140 Shares of CareTrust REIT, Inc. (NASDAQ:CTRE)

Allspring Global Investments Holdings LLC cut its stake in CareTrust REIT, Inc. (NASDAQ:CTRE) by 21.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 22,051 shares of the real estate investment trust’s stock after selling 6,140 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in CareTrust REIT were worth $494,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Van ECK Associates Corp grew its position in CareTrust REIT by 4.3% during the 3rd quarter. Van ECK Associates Corp now owns 11,730 shares of the real estate investment trust’s stock valued at $240,000 after purchasing an additional 486 shares during the last quarter. Exchange Traded Concepts LLC grew its position in CareTrust REIT by 0.8% during the 4th quarter. Exchange Traded Concepts LLC now owns 65,569 shares of the real estate investment trust’s stock valued at $1,467,000 after purchasing an additional 516 shares during the last quarter. MBM Wealth Consultants LLC grew its position in CareTrust REIT by 4.7% during the 3rd quarter. MBM Wealth Consultants LLC now owns 13,108 shares of the real estate investment trust’s stock valued at $282,000 after purchasing an additional 592 shares during the last quarter. Daiwa Securities Group Inc. grew its position in CareTrust REIT by 2.2% during the 3rd quarter. Daiwa Securities Group Inc. now owns 31,537 shares of the real estate investment trust’s stock valued at $647,000 after purchasing an additional 668 shares during the last quarter. Finally, Global Retirement Partners LLC grew its position in CareTrust REIT by 113.9% during the 4th quarter. Global Retirement Partners LLC now owns 1,388 shares of the real estate investment trust’s stock valued at $31,000 after purchasing an additional 739 shares during the last quarter. 87.77% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently commented on CTRE shares. Deutsche Bank Aktiengesellschaft started coverage on shares of CareTrust REIT in a research report on Tuesday, January 30th. They set a “hold” rating and a $23.00 price objective on the stock. Royal Bank of Canada dropped their price target on shares of CareTrust REIT from $25.00 to $24.00 and set an “outperform” rating on the stock in a report on Wednesday, January 31st. Finally, KeyCorp raised their price target on shares of CareTrust REIT from $22.00 to $25.00 and gave the company an “overweight” rating in a report on Friday, January 5th. Three 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 presently has a consensus rating of “Moderate Buy” and a consensus price target of $23.57.

CareTrust REIT Stock Performance

CTRE opened at $23.95 on Friday. The company has a current ratio of 8.67, a quick ratio of 8.67 and a debt-to-equity ratio of 0.42. The company has a market cap of $3.23 billion, a price-to-earnings ratio of 48.88 and a beta of 1.05. The company’s 50 day moving average is $23.62 and its 200 day moving average is $22.63. CareTrust REIT, Inc. has a 12-month low of $18.18 and a 12-month high of $24.62.

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 a boost from CareTrust REIT’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $1.16 dividend on an annualized basis and a yield of 4.84%. CareTrust REIT’s dividend payout ratio (DPR) is presently 236.73%.

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.