Vise Technologies Inc. Takes $751,000 Position in CareTrust REIT, Inc. $CTRE

Vise Technologies Inc. bought a new stake in CareTrust REIT, Inc. (NYSE:CTRE) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 20,770 shares of the company’s stock, valued at approximately $751,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of CareTrust REIT by 14.1% during the 3rd quarter. Vanguard Group Inc. now owns 32,973,216 shares of the company’s stock worth $1,143,511,000 after buying an additional 4,067,975 shares in the last quarter. Norges Bank purchased a new position in shares of CareTrust REIT during the 4th quarter worth approximately $114,810,000. Hudson Bay Capital Management LP raised its stake in shares of CareTrust REIT by 713.4% during the 3rd quarter. Hudson Bay Capital Management LP now owns 1,710,528 shares of the company’s stock worth $59,321,000 after buying an additional 1,989,394 shares in the last quarter. Daiwa Securities Group Inc. raised its stake in shares of CareTrust REIT by 114.4% during the 3rd quarter. Daiwa Securities Group Inc. now owns 3,238,307 shares of the company’s stock worth $112,305,000 after buying an additional 1,728,043 shares in the last quarter. Finally, State Street Corp raised its stake in shares of CareTrust REIT by 11.7% during the 3rd quarter. State Street Corp now owns 12,206,572 shares of the company’s stock worth $427,336,000 after buying an additional 1,277,378 shares in the last quarter. Hedge funds and other institutional investors own 87.77% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on CTRE. Mizuho set a $45.00 target price on CareTrust REIT in a research note on Friday, May 22nd. Wells Fargo & Company increased their target price on CareTrust REIT from $42.00 to $47.00 and gave the stock an “overweight” rating in a research note on Monday, June 1st. Zacks Research raised CareTrust REIT from a “strong sell” rating to a “hold” rating in a research note on Monday, May 25th. Cantor Fitzgerald boosted their price objective on shares of CareTrust REIT from $37.00 to $42.00 and gave the stock a “neutral” rating in a report on Tuesday, February 17th. Finally, Citigroup reissued a “market outperform” rating on shares of CareTrust REIT in a report on Wednesday. Three investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $44.09.

CareTrust REIT Stock Up 0.2%

CTRE stock opened at $37.78 on Thursday. The company has a market cap of $8.93 billion, a P/E ratio of 24.22, a P/E/G ratio of 1.71 and a beta of 0.76. CareTrust REIT, Inc. has a 52 week low of $27.81 and a 52 week high of $43.08. The company’s 50-day moving average price is $39.48 and its 200 day moving average price is $38.49. The company has a current ratio of 2.38, a quick ratio of 2.37 and a debt-to-equity ratio of 0.22.

CareTrust REIT Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st were issued a dividend of $0.39 per share. This is an increase from CareTrust REIT’s previous quarterly dividend of $0.34. This represents a $1.56 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date of this dividend was Tuesday, March 31st. CareTrust REIT’s payout ratio is presently 100.00%.

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.