Gabelli Funds LLC Has $7.52 Million Stock Position in CareTrust REIT, Inc. $CTRE

Gabelli Funds LLC reduced its stake in CareTrust REIT, Inc. (NYSE:CTRE) by 5.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 205,191 shares of the company’s stock after selling 12,836 shares during the quarter. Gabelli Funds LLC’s holdings in CareTrust REIT were worth $7,520,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of CTRE. Vanguard Group Inc. grew its position in shares of CareTrust REIT by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 33,184,181 shares of the company’s stock valued at $1,199,940,000 after purchasing an additional 210,965 shares during the last quarter. State Street Corp lifted its holdings in CareTrust REIT by 1.8% during the 4th quarter. State Street Corp now owns 12,426,213 shares of the company’s stock worth $453,411,000 after purchasing an additional 219,641 shares during the last quarter. Wellington Management Group LLP lifted its holdings in CareTrust REIT by 18.1% during the 4th quarter. Wellington Management Group LLP now owns 12,355,966 shares of the company’s stock worth $446,792,000 after purchasing an additional 1,893,143 shares during the last quarter. T. Rowe Price Investment Management Inc. boosted its stake in CareTrust REIT by 108.5% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 6,493,898 shares of the company’s stock valued at $234,820,000 after purchasing an additional 3,379,732 shares during the period. Finally, Geode Capital Management LLC boosted its stake in CareTrust REIT by 7.2% in the 4th quarter. Geode Capital Management LLC now owns 6,092,398 shares of the company’s stock valued at $220,332,000 after purchasing an additional 409,411 shares during the period. 87.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CTRE has been the topic of several recent research reports. BMO Capital Markets increased their price objective on CareTrust REIT from $46.00 to $47.00 and gave the stock an “outperform” rating in a research report on Monday, June 15th. Mizuho set a $45.00 target price on shares of CareTrust REIT in a research report on Friday, May 22nd. Citigroup restated a “market outperform” rating on shares of CareTrust REIT in a research note on Wednesday, June 10th. Zacks Research raised shares of CareTrust REIT from a “strong sell” rating to a “hold” rating in a research report on Monday, May 25th. Finally, Weiss Ratings cut shares of CareTrust REIT from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Tuesday, July 21st. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, CareTrust REIT presently has a consensus rating of “Moderate Buy” and an average price target of $44.82.

CareTrust REIT Price Performance

CareTrust REIT stock opened at $42.93 on Tuesday. The stock’s fifty day moving average price is $40.06 and its two-hundred day moving average price is $39.27. CareTrust REIT, Inc. has a one year low of $30.51 and a one year high of $43.60. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.38 and a quick ratio of 2.37. The firm has a market cap of $10.14 billion, a PE ratio of 27.52, a price-to-earnings-growth ratio of 1.95 and a beta of 0.76.

CareTrust REIT Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were issued a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 3.6%. The ex-dividend date of this dividend was Tuesday, June 30th. CareTrust REIT’s dividend payout ratio 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.