73,984 Shares in CareTrust REIT, Inc. $CTRE Purchased by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd acquired a new position in shares of CareTrust REIT, Inc. (NYSE:CTRE) during the 1st quarter, Holdings Channel reports. The fund acquired 73,984 shares of the company’s stock, valued at approximately $2,712,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CTRE. Royal Bank of Canada lifted its position in CareTrust REIT by 36.4% in the first quarter. Royal Bank of Canada now owns 179,501 shares of the company’s stock worth $5,129,000 after buying an additional 47,936 shares during the last quarter. NewEdge Advisors LLC increased its position in CareTrust REIT by 11.3% during the first quarter. NewEdge Advisors LLC now owns 33,628 shares of the company’s stock valued at $961,000 after acquiring an additional 3,408 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of CareTrust REIT by 134.2% in the second quarter. EverSource Wealth Advisors LLC now owns 1,124 shares of the company’s stock valued at $34,000 after acquiring an additional 644 shares during the period. First Trust Advisors LP lifted its holdings in shares of 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 acquiring an additional 98,850 shares during the last quarter. Finally, Cerity Partners LLC lifted its holdings in shares of 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 acquiring an additional 27,706 shares during the last quarter. 87.77% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on CTRE shares. Zacks Research upgraded shares of CareTrust REIT from a “strong sell” rating to a “hold” rating in a report on Monday, May 25th. Citigroup reaffirmed a “market outperform” rating on shares of CareTrust REIT in a research note on Wednesday, June 10th. Wells Fargo & Company increased their price target on CareTrust REIT from $42.00 to $47.00 and gave the stock an “overweight” rating in a report on Monday, June 1st. Raymond James Financial started coverage on CareTrust REIT in a research note on Tuesday, June 16th. They set an “outperform” rating and a $43.00 price target for the company. Finally, Weiss Ratings upgraded CareTrust REIT from a “buy (b+)” rating to a “buy (a-)” rating in a report on Monday. Two analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $44.82.

CareTrust REIT Stock Performance

CTRE stock opened at $41.80 on Wednesday. CareTrust REIT, Inc. has a 1-year low of $30.21 and a 1-year high of $43.08. The business has a 50-day moving average price of $39.69 and a 200 day moving average price of $38.76. The company has a market capitalization of $9.87 billion, a P/E ratio of 26.79, a PEG ratio of 1.86 and a beta of 0.76. 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 Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be given a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 3.7%. The ex-dividend date of this dividend is Tuesday, June 30th. CareTrust REIT’s dividend payout ratio is presently 100.00%.

About CareTrust REIT

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.