Inceptionr LLC Acquires Shares of 24,071 CareTrust REIT, Inc. $CTRE

Inceptionr LLC bought a new stake in shares of CareTrust REIT, Inc. (NYSE:CTRE) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 24,071 shares of the company’s stock, valued at approximately $882,000.

Several other large investors also recently modified their holdings of CTRE. Kemnay Advisory Services Inc. bought a new position in shares of CareTrust REIT in the fourth quarter worth $27,000. Transamerica Financial Advisors LLC raised its stake in CareTrust REIT by 520.0% in the fourth quarter. Transamerica Financial Advisors LLC now owns 868 shares of the company’s stock valued at $32,000 after purchasing an additional 728 shares in the last quarter. Allworth Financial LP raised its stake in CareTrust REIT by 114.0% in the third quarter. Allworth Financial LP now owns 1,042 shares of the company’s stock valued at $36,000 after purchasing an additional 555 shares in the last quarter. Mcguire Capital Advisors Inc. bought a new stake in CareTrust REIT during the fourth quarter worth about $40,000. Finally, EverSource Wealth Advisors LLC lifted its position in CareTrust REIT by 134.2% during the second 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. 87.77% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CTRE has been the topic of a number of analyst reports. Zacks Research upgraded shares of CareTrust REIT from a “strong sell” rating to a “hold” rating in a research note on Monday, May 25th. KeyCorp restated an “overweight” rating and issued a $46.00 target price on shares of CareTrust REIT in a research report on Friday, May 29th. Raymond James Financial assumed coverage on shares of CareTrust REIT in a report on Tuesday, June 16th. They set an “outperform” rating and a $43.00 price target for the company. Wells Fargo & Company increased their price target on shares of CareTrust REIT from $42.00 to $47.00 and gave the stock an “overweight” rating in a research report on Monday, June 1st. Finally, Citigroup reissued a “market outperform” rating on shares of CareTrust REIT in a research note on Wednesday, June 10th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, CareTrust REIT currently has an average rating of “Moderate Buy” and a consensus price target of $44.82.

CareTrust REIT Price Performance

CareTrust REIT stock opened at $43.27 on Friday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.37 and a current ratio of 2.38. CareTrust REIT, Inc. has a 52 week low of $30.51 and a 52 week high of $43.60. The stock has a market capitalization of $10.22 billion, a P/E ratio of 27.73, a price-to-earnings-growth ratio of 1.91 and a beta of 0.76. The stock has a fifty day moving average of $40.03 and a 200-day moving average of $39.21.

CareTrust REIT Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were given a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date was Tuesday, June 30th. CareTrust REIT’s payout ratio is currently 100.00%.

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.