ProShare Advisors LLC Has $7.26 Million Stock Position in CareTrust REIT, Inc. $CTRE

ProShare Advisors LLC decreased its position in CareTrust REIT, Inc. (NYSE:CTRE) by 10.2% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 200,780 shares of the company’s stock after selling 22,703 shares during the period. ProShare Advisors LLC’s holdings in CareTrust REIT were worth $7,260,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Royal Bank of Canada boosted its stake in CareTrust REIT by 36.4% in the 1st quarter. Royal Bank of Canada now owns 179,501 shares of the company’s stock worth $5,129,000 after purchasing an additional 47,936 shares during the period. NewEdge Advisors LLC boosted its stake in CareTrust REIT by 11.3% in the 1st quarter. NewEdge Advisors LLC now owns 33,628 shares of the company’s stock worth $961,000 after purchasing an additional 3,408 shares during the period. EverSource Wealth Advisors LLC boosted its stake in CareTrust REIT by 134.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,124 shares of the company’s stock worth $34,000 after purchasing an additional 644 shares during the period. First Trust Advisors LP boosted its stake in CareTrust REIT by 67.6% in the 2nd quarter. First Trust Advisors LP now owns 245,154 shares of the company’s stock worth $7,502,000 after purchasing an additional 98,850 shares during the period. Finally, Cerity Partners LLC boosted its stake in CareTrust REIT by 310.1% in the 2nd quarter. Cerity Partners LLC now owns 36,640 shares of the company’s stock worth $1,121,000 after purchasing an additional 27,706 shares during the period. Institutional investors and hedge funds own 87.77% of the company’s stock.

CareTrust REIT Trading Down 1.2%

Shares of NYSE:CTRE opened at $41.00 on Friday. The company’s 50-day moving average price is $39.22 and its two-hundred day moving average price is $38.16. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.38 and a quick ratio of 2.37. CareTrust REIT, Inc. has a one year low of $27.81 and a one year high of $43.08. The stock has a market capitalization of $9.69 billion, a PE ratio of 26.28, a price-to-earnings-growth ratio of 2.74 and a beta of 0.77.

CareTrust REIT Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st were given a dividend of $0.39 per share. This is a boost from CareTrust REIT’s previous quarterly dividend of $0.34. The ex-dividend date of this dividend was Tuesday, March 31st. This represents a $1.56 annualized dividend and a yield of 3.8%. CareTrust REIT’s payout ratio is presently 85.90%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on CTRE shares. Wells Fargo & Company upped their target price on shares of CareTrust REIT from $41.00 to $42.00 and gave the stock an “overweight” rating in a research note on Thursday, March 26th. Zacks Research lowered shares of CareTrust REIT from a “hold” rating to a “strong sell” rating in a research note on Wednesday, March 25th. Royal Bank Of Canada upped their target price on shares of CareTrust REIT from $41.00 to $44.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 24th. The Goldman Sachs Group set a $44.00 target price on shares of CareTrust REIT in a research note on Thursday, January 22nd. Finally, Mizuho started coverage on shares of CareTrust REIT in a research note on Thursday, April 2nd. They issued an “outperform” rating and a $42.00 target price for the company. Three research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $42.82.

CareTrust REIT Company Profile

CareTrust REIT, Inc is a real estate investment trust based in Deerfield Beach, Florida, specializing in the ownership, acquisition and management of net-leased healthcare properties. The company primarily focuses on seniors housing and post-acute care facilities, entering into long-term, triple-net lease agreements with leading operators in the skilled nursing, assisted living, memory care, inpatient rehabilitation and specialty hospital sectors. Through its portfolio, CareTrust REIT aims to provide investors with stable and predictable rental income while supporting the ongoing demand for quality healthcare real estate across the United States.

Since its initial public offering in September 2013, CareTrust REIT has pursued a disciplined acquisition strategy, targeting properties in primary and select secondary markets.