26,528 Shares in CareTrust REIT, Inc. $CTRE Acquired by Pacer Advisors Inc.

Pacer Advisors Inc. acquired a new stake in CareTrust REIT, Inc. (NYSE:CTRE) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 26,528 shares of the company’s stock, valued at approximately $972,000.

Other large investors have also added to or reduced their stakes in the company. Militia Capital Management LLC bought a new position in CareTrust REIT in the first quarter valued at about $429,000. Parallel Advisors LLC grew its position in CareTrust REIT by 147.7% during the 1st quarter. Parallel Advisors LLC now owns 6,812 shares of the company’s stock worth $250,000 after acquiring an additional 4,062 shares during the last quarter. NewEdge Advisors LLC increased its holdings in CareTrust REIT by 4.2% in the 1st quarter. NewEdge Advisors LLC now owns 37,572 shares of the company’s stock worth $1,377,000 after purchasing an additional 1,528 shares in the last quarter. Cozad Asset Management Inc. raised its position in CareTrust REIT by 9.0% in the first quarter. Cozad Asset Management Inc. now owns 61,837 shares of the company’s stock valued at $2,266,000 after purchasing an additional 5,098 shares during the last quarter. Finally, Bank of America Corp DE boosted its stake in shares of CareTrust REIT by 21.5% during the first quarter. Bank of America Corp DE now owns 1,214,974 shares of the company’s stock valued at $44,529,000 after purchasing an additional 214,992 shares in the last quarter. Institutional investors and hedge funds own 87.77% of the company’s stock.

CareTrust REIT Price Performance

Shares of CTRE opened at $41.22 on Monday. The business has a 50-day moving average of $40.11 and a 200-day moving average of $39.54. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.57 and a quick ratio of 0.57. The company has a market capitalization of $9.74 billion, a price-to-earnings ratio of 25.92, a price-to-earnings-growth ratio of 1.85 and a beta of 0.75. CareTrust REIT, Inc. has a 1 year low of $32.25 and a 1 year high of $43.62.

CareTrust REIT Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were issued a dividend of $0.39 per share. The ex-dividend date was Tuesday, June 30th. This represents a $1.56 annualized dividend and a yield of 3.8%. CareTrust REIT’s dividend payout ratio (DPR) is presently 98.11%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on CTRE shares. Raymond James Financial began coverage on CareTrust REIT in a report on Tuesday, June 16th. They set an “outperform” rating and a $43.00 price target on the stock. Wells Fargo & Company lifted their target price 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. KeyCorp reissued an “overweight” rating and set a $46.00 target price on shares of CareTrust REIT in a report on Friday, May 29th. Mizuho set a $45.00 price target on shares of CareTrust REIT in a research report on Friday, May 22nd. Finally, BMO Capital Markets raised their price target on shares of CareTrust REIT from $46.00 to $47.00 and gave the company an “outperform” rating in a research note on Monday, June 15th. Two research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $44.82.

CareTrust REIT 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.