Sumitomo Mitsui DS Asset Management Company Ltd Buys 2,842 Shares of CareTrust REIT, Inc. (NASDAQ:CTRE)

Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in CareTrust REIT, Inc. (NASDAQ:CTRE) by 17.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 19,137 shares of the real estate investment trust’s stock after purchasing an additional 2,842 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in CareTrust REIT were worth $428,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Wellington Management Group LLP boosted its stake in shares of CareTrust REIT by 8.1% in the 3rd quarter. Wellington Management Group LLP now owns 7,211,404 shares of the real estate investment trust’s stock worth $147,834,000 after buying an additional 542,832 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in CareTrust REIT by 1.8% in the third quarter. Victory Capital Management Inc. now owns 1,065,483 shares of the real estate investment trust’s stock valued at $21,842,000 after acquiring an additional 19,046 shares during the period. Raymond James & Associates boosted its position in CareTrust REIT by 16.0% in the fourth quarter. Raymond James & Associates now owns 663,887 shares of the real estate investment trust’s stock worth $14,858,000 after purchasing an additional 91,670 shares during the last quarter. Invesco Ltd. grew its stake in shares of CareTrust REIT by 4.0% during the 3rd quarter. Invesco Ltd. now owns 632,967 shares of the real estate investment trust’s stock valued at $12,976,000 after purchasing an additional 24,171 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in shares of CareTrust REIT by 6.1% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 527,438 shares of the real estate investment trust’s stock valued at $11,804,000 after purchasing an additional 30,280 shares during the last quarter. 87.77% of the stock is currently owned by hedge funds and other institutional investors.

CareTrust REIT Price Performance

NASDAQ CTRE opened at $23.95 on Friday. The company has a current ratio of 8.67, a quick ratio of 8.67 and a debt-to-equity ratio of 0.42. CareTrust REIT, Inc. has a 12 month low of $18.18 and a 12 month high of $24.62. The stock has a market cap of $3.23 billion, a price-to-earnings ratio of 48.88 and a beta of 1.05. The company’s 50 day moving average is $23.62 and its two-hundred day moving average is $22.63.

CareTrust REIT Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were given a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 4.84%. This is an increase from CareTrust REIT’s previous quarterly dividend of $0.28. The ex-dividend date was Wednesday, March 27th. CareTrust REIT’s dividend payout ratio (DPR) is presently 236.73%.

Analyst Upgrades and Downgrades

CTRE has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft started coverage on shares of CareTrust REIT in a report on Tuesday, January 30th. They issued a “hold” rating and a $23.00 price objective on the stock. KeyCorp lifted their price target on shares of CareTrust REIT from $22.00 to $25.00 and gave the stock an “overweight” rating in a research note on Friday, January 5th. Finally, Royal Bank of Canada cut their price objective on shares of 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 issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $23.57.

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.