Wells Fargo & Company MN trimmed its holdings in Caretrust REIT Inc (NASDAQ:CTRE) by 15.8% in the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 241,268 shares of the real estate investment trust’s stock after selling 45,435 shares during the quarter. Wells Fargo & Company MN owned about 0.32% of Caretrust REIT worth $3,233,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CTRE. Schwab Charles Investment Management Inc. increased its holdings in Caretrust REIT by 3.2% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 365,009 shares of the real estate investment trust’s stock worth $6,118,000 after buying an additional 11,378 shares in the last quarter. Teacher Retirement System of Texas bought a new stake in Caretrust REIT in the 4th quarter worth about $441,000. California Public Employees Retirement System increased its holdings in Caretrust REIT by 18.2% in the 4th quarter. California Public Employees Retirement System now owns 175,822 shares of the real estate investment trust’s stock worth $2,947,000 after buying an additional 27,036 shares in the last quarter. Swiss National Bank grew its stake in shares of Caretrust REIT by 6.5% during the 4th quarter. Swiss National Bank now owns 129,249 shares of the real estate investment trust’s stock valued at $2,166,000 after purchasing an additional 7,900 shares during the period. Finally, Arizona State Retirement System grew its stake in shares of Caretrust REIT by 223.9% during the 4th quarter. Arizona State Retirement System now owns 127,571 shares of the real estate investment trust’s stock valued at $2,138,000 after purchasing an additional 88,188 shares during the period. Institutional investors own 89.52% of the company’s stock.
Caretrust REIT opened at $17.28 on Friday, Marketbeat reports. Caretrust REIT Inc has a twelve month low of $12.73 and a twelve month high of $19.82. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.34 and a current ratio of 1.34. The stock has a market cap of $1.32 billion, a PE ratio of 14.17, a P/E/G ratio of 2.66 and a beta of 0.79.
Caretrust REIT (NASDAQ:CTRE) last posted its quarterly earnings data on Tuesday, May 8th. The real estate investment trust reported $0.19 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.31 by ($0.12). Caretrust REIT had a net margin of 21.50% and a return on equity of 5.03%. The company had revenue of $38.10 million for the quarter, compared to analysts’ expectations of $36.99 million. During the same period in the previous year, the firm earned $0.30 earnings per share. The firm’s quarterly revenue was up 24.5% on a year-over-year basis. equities analysts forecast that Caretrust REIT Inc will post 1.3 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 13th. Stockholders of record on Friday, June 29th will be given a dividend of $0.205 per share. The ex-dividend date of this dividend is Thursday, June 28th. This represents a $0.82 dividend on an annualized basis and a dividend yield of 4.75%. Caretrust REIT’s payout ratio is currently 70.69%.
A number of research firms have issued reports on CTRE. BidaskClub upgraded Caretrust REIT from a “strong sell” rating to a “sell” rating in a research note on Wednesday, May 2nd. BMO Capital Markets restated a “hold” rating and set a $15.00 price target on shares of Caretrust REIT in a research note on Tuesday, May 8th. Royal Bank of Canada boosted their price target on Caretrust REIT from $15.00 to $16.00 and gave the company a “hold” rating in a research note on Thursday, May 24th. Zacks Investment Research upgraded Caretrust REIT from a “sell” rating to a “hold” rating in a research note on Friday, March 30th. Finally, TheStreet upgraded Caretrust REIT from a “c+” rating to a “b-” rating in a research note on Friday, May 25th. Six investment analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $17.78.
About Caretrust REIT
CareTrust REIT, Inc is a self-administered, publicly-traded real estate investment trust engaged in the ownership, acquisition and leasing of seniors housing and healthcare-related properties. With 186 net leased healthcare properties and three operated seniors housing properties in 24 states, CareTrust is pursuing opportunities across the nation to acquire properties that will be leased to a diverse group of local, regional and national seniors housing operators, healthcare services providers, and other healthcare-related businesses.
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