Lazard Asset Management LLC Sells 36,947 Shares of CareTrust REIT, Inc. $CTRE

Lazard Asset Management LLC cut its position in shares of CareTrust REIT, Inc. (NYSE:CTRE) by 24.3% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 114,865 shares of the company’s stock after selling 36,947 shares during the quarter. Lazard Asset Management LLC’s holdings in CareTrust REIT were worth $4,210,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Entropy Technologies LP raised its holdings in CareTrust REIT by 17.8% in the 1st quarter. Entropy Technologies LP now owns 33,454 shares of the company’s stock valued at $1,226,000 after acquiring an additional 5,063 shares in the last quarter. Keebeck Wealth Management lifted its position in shares of CareTrust REIT by 12.4% in the 1st quarter. Keebeck Wealth Management now owns 15,373 shares of the company’s stock worth $563,000 after acquiring an additional 1,690 shares during the period. Inceptionr LLC acquired a new stake in shares of CareTrust REIT during the 1st quarter worth approximately $882,000. Lido Advisors LLC grew its holdings in shares of CareTrust REIT by 20.5% during the 1st quarter. Lido Advisors LLC now owns 14,394 shares of the company’s stock worth $533,000 after purchasing an additional 2,453 shares in the last quarter. Finally, Militia Capital Management LLC bought a new stake in shares of CareTrust REIT during the first quarter valued at approximately $429,000. 87.77% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Weiss Ratings lowered CareTrust REIT from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Tuesday, July 21st. Mizuho set a $45.00 price target on shares of CareTrust REIT in a research note on Friday, May 22nd. Raymond James Financial started coverage on shares of CareTrust REIT in a research note on Tuesday, June 16th. They set an “outperform” rating and a $43.00 price target on the stock. KeyCorp reissued an “overweight” rating and issued a $46.00 price target on shares of CareTrust REIT in a report on Friday, May 29th. Finally, Citigroup restated a “market outperform” rating on shares of CareTrust REIT in a research note on Wednesday, June 10th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $44.82.

CareTrust REIT Stock Up 1.0%

NYSE CTRE opened at $42.04 on Friday. CareTrust REIT, Inc. has a 1-year low of $31.33 and a 1-year high of $43.62. The company has a market capitalization of $9.93 billion, a price-to-earnings ratio of 26.95, a PEG ratio of 1.88 and a beta of 0.76. The stock’s 50 day moving average is $40.14 and its two-hundred day moving average is $39.40. The company has a current ratio of 2.38, a quick ratio of 2.37 and a debt-to-equity ratio of 0.22.

CareTrust REIT Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were given a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 3.7%. The ex-dividend date was Tuesday, June 30th. CareTrust REIT’s dividend payout ratio (DPR) is 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.