CareTrust REIT, Inc. (NASDAQ:CTRE) Stock Position Increased by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund boosted its position in shares of CareTrust REIT, Inc. (NASDAQ:CTRE) by 3.3% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 59,181 shares of the real estate investment trust’s stock after buying an additional 1,899 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in CareTrust REIT were worth $1,324,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of CTRE. SG Americas Securities LLC grew its position in CareTrust REIT by 524.4% in the third quarter. SG Americas Securities LLC now owns 60,483 shares of the real estate investment trust’s stock worth $1,240,000 after buying an additional 50,797 shares during the last quarter. Trust Co. of Toledo NA OH acquired a new stake in shares of CareTrust REIT during the third quarter worth $372,000. Commonwealth Equity Services LLC lifted its holdings in shares of CareTrust REIT by 7.6% during the third quarter. Commonwealth Equity Services LLC now owns 11,611 shares of the real estate investment trust’s stock valued at $238,000 after purchasing an additional 817 shares during the last quarter. Raymond James & Associates boosted its position in shares of CareTrust REIT by 189.5% in the 3rd quarter. Raymond James & Associates now owns 572,217 shares of the real estate investment trust’s stock valued at $11,730,000 after purchasing an additional 374,593 shares during the period. Finally, Raymond James Financial Services Advisors Inc. boosted its position in shares of CareTrust REIT by 16.4% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 206,933 shares of the real estate investment trust’s stock valued at $4,242,000 after purchasing an additional 29,154 shares during the period. 87.77% of the stock is owned by institutional investors and hedge funds.

CareTrust REIT Stock Up 1.5 %

CTRE stock opened at $24.31 on Friday. The company has a 50 day moving average of $23.68 and a two-hundred day moving average of $22.67. The company has a market cap of $3.28 billion, a price-to-earnings ratio of 49.61 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 quick ratio of 8.67, a current ratio of 8.67 and a debt-to-equity ratio of 0.42.

CareTrust REIT Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were issued a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 4.77%. This is a positive change from CareTrust REIT’s previous quarterly dividend of $0.28. The ex-dividend date was Wednesday, March 27th. CareTrust REIT’s dividend payout ratio (DPR) is currently 236.73%.

Analyst Upgrades and Downgrades

A number of analysts have commented on CTRE shares. Deutsche Bank Aktiengesellschaft started coverage on shares of CareTrust REIT in a research note on Tuesday, January 30th. They set a “hold” rating and a $23.00 price objective for the company. KeyCorp upped their price target on shares of CareTrust REIT from $22.00 to $25.00 and gave the company an “overweight” rating in a research report on Friday, January 5th. Finally, Royal Bank of Canada lowered their price objective on shares of CareTrust REIT from $25.00 to $24.00 and set an “outperform” rating on the stock 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 stock. According to data from MarketBeat.com, CareTrust REIT presently has an average rating of “Moderate Buy” and an average price target of $23.57.

About CareTrust REIT

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.