Scout Investments Inc. Lowers Stock Position in CareTrust REIT, Inc. (NASDAQ:CTRE)

Scout Investments Inc. reduced its stake in shares of CareTrust REIT, Inc. (NASDAQ:CTREFree Report) by 1.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 375,233 shares of the real estate investment trust’s stock after selling 5,884 shares during the period. Scout Investments Inc. owned 0.29% of CareTrust REIT worth $8,398,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in CTRE. Global Retirement Partners LLC lifted its holdings in CareTrust REIT by 113.9% in the 4th quarter. Global Retirement Partners LLC now owns 1,388 shares of the real estate investment trust’s stock worth $31,000 after purchasing an additional 739 shares in the last quarter. USA Financial Formulas purchased a new position in CareTrust REIT in the 4th quarter worth approximately $67,000. AlphaMark Advisors LLC lifted its holdings in CareTrust REIT by 245.2% in the 4th quarter. AlphaMark Advisors LLC now owns 3,625 shares of the real estate investment trust’s stock worth $81,000 after purchasing an additional 2,575 shares in the last quarter. M&T Bank Corp purchased a new position in CareTrust REIT in the 4th quarter worth approximately $236,000. Finally, Van ECK Associates Corp lifted its holdings in CareTrust REIT by 4.3% in the 3rd quarter. Van ECK Associates Corp now owns 11,730 shares of the real estate investment trust’s stock worth $240,000 after purchasing an additional 486 shares in the last quarter. 87.77% of the stock is owned by hedge funds and other institutional investors.

CareTrust REIT Trading Down 1.2 %

Shares of NASDAQ CTRE traded down $0.31 during trading hours on Friday, hitting $25.83. 1,106,778 shares of the company traded hands, compared to its average volume of 1,129,056. The stock has a market capitalization of $3.67 billion, a price-to-earnings ratio of 49.66 and a beta of 1.06. The company has a current ratio of 12.80, a quick ratio of 12.80 and a debt-to-equity ratio of 0.36. The company’s 50 day moving average price is $24.70 and its 200 day moving average price is $23.36. CareTrust REIT, Inc. has a 12 month low of $19.05 and a 12 month high of $26.43.

CareTrust REIT Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were issued a dividend of $0.29 per share. The ex-dividend date was Wednesday, March 27th. This represents a $1.16 dividend on an annualized basis and a yield of 4.49%. This is a boost from CareTrust REIT’s previous quarterly dividend of $0.28. CareTrust REIT’s payout ratio is presently 223.08%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. KeyCorp lifted their price objective on CareTrust REIT from $25.00 to $27.00 and gave the stock an “overweight” rating in a research note on Thursday, May 9th. Wells Fargo & Company lifted their price objective on CareTrust REIT from $24.00 to $26.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 30th. Finally, Wedbush assumed coverage on CareTrust REIT in a research note on Wednesday, May 29th. They issued a “neutral” rating and a $26.00 price objective on the stock. Four 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 stock has an average rating of “Moderate Buy” and an average target price of $24.50.

Check Out Our Latest Analysis on CTRE

About CareTrust REIT

(Free Report)

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.

See Also

Institutional Ownership by Quarter for CareTrust REIT (NASDAQ:CTRE)

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