CareTrust REIT, Inc. (NASDAQ:CTRE) Shares Purchased by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund boosted its stake in shares of CareTrust REIT, Inc. (NASDAQ:CTRE) by 3.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 59,181 shares of the real estate investment trust’s stock after buying an additional 1,899 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in CareTrust REIT were worth $1,324,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Graham Capital Management L.P. purchased a new stake in shares of CareTrust REIT during the 3rd quarter worth approximately $943,000. Wellington Management Group LLP grew its holdings in CareTrust REIT by 8.1% in the third quarter. Wellington Management Group LLP now owns 7,211,404 shares of the real estate investment trust’s stock valued at $147,834,000 after purchasing an additional 542,832 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its position in shares of CareTrust REIT by 17.4% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 19,137 shares of the real estate investment trust’s stock valued at $428,000 after buying an additional 2,842 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd acquired a new position in shares of CareTrust REIT during the 4th quarter worth $4,879,000. Finally, Econ Financial Services Corp acquired a new position in shares of CareTrust REIT during the 3rd quarter worth $544,000. 87.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on CTRE shares. Deutsche Bank Aktiengesellschaft began coverage on shares of CareTrust REIT in a report on Tuesday, January 30th. They set a “hold” rating and a $23.00 target price for the company. KeyCorp increased their price target on shares of CareTrust REIT from $22.00 to $25.00 and gave the company an “overweight” rating in a research report on Friday, January 5th. Finally, Royal Bank of Canada cut their price objective on CareTrust REIT from $25.00 to $24.00 and set an “outperform” rating for the company in a research report on Wednesday, January 31st. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $23.57.

CareTrust REIT Stock Performance

Shares of CTRE opened at $24.31 on Friday. CareTrust REIT, Inc. has a 1 year low of $18.18 and a 1 year high of $24.62. The company’s 50 day simple moving average is $23.68 and its 200 day simple moving average is $22.67. The company has a market capitalization of $3.28 billion, a price-to-earnings ratio of 49.61 and a beta of 1.05. The company has a debt-to-equity ratio of 0.42, a quick ratio of 8.67 and a current ratio of 8.67.

CareTrust REIT Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were issued a dividend of $0.29 per share. This is a boost from CareTrust REIT’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $1.16 annualized dividend and a dividend yield of 4.77%. CareTrust REIT’s dividend payout ratio (DPR) is 236.73%.

About CareTrust REIT

CareTrust REIT, Inc is a self-administered, publicly-traded real estate investment trust engaged in the ownership, acquisition, development and leasing of skilled nursing, seniors housing and other healthcare-related properties. With a nationwide portfolio of long-term net-leased properties, and a growing portfolio of quality operators leasing them, CareTrust REIT is pursuing both external and organic growth opportunities across the United States.