Sumitomo Mitsui DS Asset Management Company Ltd Raises Stock Holdings in CareTrust REIT, Inc. (NASDAQ:CTRE)

Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in shares of CareTrust REIT, Inc. (NASDAQ:CTRE) by 17.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 19,137 shares of the real estate investment trust’s stock after acquiring an additional 2,842 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in CareTrust REIT were worth $428,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of CTRE. Wellington Management Group LLP boosted its holdings in shares of CareTrust REIT by 8.1% in the 3rd 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 last quarter. Victory Capital Management Inc. increased its stake in shares of CareTrust REIT by 1.8% during the 3rd quarter. Victory Capital Management Inc. now owns 1,065,483 shares of the real estate investment trust’s stock worth $21,842,000 after purchasing an additional 19,046 shares during the last quarter. Raymond James & Associates raised its holdings in shares of CareTrust REIT by 16.0% in the 4th quarter. Raymond James & Associates now owns 663,887 shares of the real estate investment trust’s stock worth $14,858,000 after purchasing an additional 91,670 shares during the period. Invesco Ltd. lifted its stake in CareTrust REIT by 4.0% in the third quarter. Invesco Ltd. now owns 632,967 shares of the real estate investment trust’s stock valued at $12,976,000 after purchasing an additional 24,171 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in CareTrust REIT by 6.1% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 527,438 shares of the real estate investment trust’s stock valued at $11,804,000 after purchasing an additional 30,280 shares during the period. Hedge funds and other institutional investors own 87.77% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on CTRE. Royal Bank of Canada lowered their target price on CareTrust REIT from $25.00 to $24.00 and set an “outperform” rating on the stock in a research note on Wednesday, January 31st. KeyCorp upped their price objective 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. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of CareTrust REIT in a research note on Tuesday, January 30th. They issued a “hold” rating and a $23.00 target price for the company. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $23.57.

CareTrust REIT Price Performance

CTRE stock opened at $23.95 on Friday. The firm has a 50 day moving average of $23.62 and a 200-day moving average of $22.63. The firm has a market capitalization of $3.23 billion, a P/E ratio of 48.88 and a beta of 1.05. CareTrust REIT, Inc. has a 12 month low of $18.18 and a 12 month high of $24.62. The company has a current ratio of 8.67, a quick ratio of 8.67 and a debt-to-equity ratio of 0.42.

CareTrust REIT Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were issued a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 4.84%. This is an increase from CareTrust REIT’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend was Wednesday, March 27th. 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.