CareTrust REIT, Inc. $CTRE Shares Bought by Tributary Capital Management LLC

Tributary Capital Management LLC raised its holdings in CareTrust REIT, Inc. (NASDAQ:CTRE) by 57.2% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 758,874 shares of the real estate investment trust’s stock after purchasing an additional 276,045 shares during the quarter. Tributary Capital Management LLC’s holdings in CareTrust REIT were worth $26,318,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of CTRE. Royal Bank of Canada raised its holdings in CareTrust REIT by 36.4% in the 1st quarter. Royal Bank of Canada now owns 179,501 shares of the real estate investment trust’s stock valued at $5,129,000 after buying an additional 47,936 shares during the period. Advisors Asset Management Inc. raised its stake in shares of CareTrust REIT by 32.1% in the 1st quarter. Advisors Asset Management Inc. now owns 4,896 shares of the real estate investment trust’s stock valued at $140,000 after acquiring an additional 1,189 shares during the period. Alliancebernstein L.P. raised its stake in shares of CareTrust REIT by 173.9% in the 1st quarter. Alliancebernstein L.P. now owns 682,066 shares of the real estate investment trust’s stock valued at $19,493,000 after acquiring an additional 433,020 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of CareTrust REIT by 90.9% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 201,893 shares of the real estate investment trust’s stock worth $5,770,000 after acquiring an additional 96,162 shares during the last quarter. Finally, NewEdge Advisors LLC boosted its position in shares of CareTrust REIT by 11.3% during the 1st quarter. NewEdge Advisors LLC now owns 33,628 shares of the real estate investment trust’s stock worth $961,000 after purchasing an additional 3,408 shares during the period. 87.77% of the stock is currently owned by hedge funds and other institutional investors.

CareTrust REIT Trading Up 1.6%

CTRE opened at $37.24 on Thursday. The business has a fifty day moving average price of $36.55 and a 200 day moving average price of $34.30. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.82 and a quick ratio of 3.82. CareTrust REIT, Inc. has a 12 month low of $24.79 and a 12 month high of $38.32. The stock has a market capitalization of $8.32 billion, a price-to-earnings ratio of 47.14, a PEG ratio of 1.25 and a beta of 0.75.

CareTrust REIT Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st will be given a dividend of $0.335 per share. The ex-dividend date of this dividend is Wednesday, December 31st. This represents a $1.34 dividend on an annualized basis and a dividend yield of 3.6%. CareTrust REIT’s payout ratio is currently 100.00%.

Analyst Ratings Changes

A number of analysts have issued reports on CTRE shares. Cantor Fitzgerald began coverage on CareTrust REIT in a research report on Wednesday, October 1st. They issued a “neutral” rating and a $37.00 target price on the stock. Wells Fargo & Company lifted their price objective on CareTrust REIT from $38.00 to $41.00 and gave the company an “overweight” rating in a research note on Tuesday, November 25th. Jefferies Financial Group boosted their price objective on CareTrust REIT from $41.00 to $43.00 and gave the company a “buy” rating in a report on Monday, December 15th. KeyCorp raised their target price on CareTrust REIT from $36.00 to $40.00 and gave the company an “overweight” rating in a report on Thursday, December 4th. Finally, UBS Group reaffirmed a “buy” rating and issued a $43.00 target price on shares of CareTrust REIT in a research report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $37.89.

CareTrust REIT Company Profile

CareTrust REIT, Inc is a healthcare-focused real estate investment trust that acquires and manages net-leased properties serving the senior housing and medical markets. The company’s portfolio spans skilled nursing facilities, assisted living communities, independent living properties, medical office buildings and life science facilities. By structuring leases on a triple-net basis, CareTrust REIT offers long-term, stable rental income streams while allowing its tenants to operate and maintain their specialized healthcare facilities.

The company’s assets are geographically diversified across the United States, with a concentration in regions experiencing aging demographics and growing demand for senior care services.