Comerica Bank raised its position in Caretrust REIT Inc (NASDAQ:CTRE) by 17.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 68,214 shares of the real estate investment trust’s stock after buying an additional 10,064 shares during the period. Comerica Bank owned approximately 0.12% of Caretrust REIT worth $1,054,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Sei Investments Co. raised its position in shares of Caretrust REIT by 27.2% in the third quarter. Sei Investments Co. now owns 10,983 shares of the real estate investment trust’s stock valued at $162,000 after buying an additional 2,348 shares during the period. KBC Group NV purchased a new position in shares of Caretrust REIT during the third quarter valued at $317,000. Bank of New York Mellon Corp raised its position in Caretrust REIT by 98.9% in the third quarter. Bank of New York Mellon Corp now owns 2,167,755 shares of the real estate investment trust’s stock valued at $32,039,000 after buying an additional 1,078,048 shares during the period. Aperio Group LLC raised its position in Caretrust REIT by 2.7% in the third quarter. Aperio Group LLC now owns 14,444 shares of the real estate investment trust’s stock valued at $213,000 after buying an additional 375 shares during the period. Finally, First Trust Advisors LP raised its position in Caretrust REIT by 16.8% in the third quarter. First Trust Advisors LP now owns 26,864 shares of the real estate investment trust’s stock valued at $397,000 after buying an additional 3,867 shares during the period. 77.45% of the stock is currently owned by institutional investors and hedge funds.
Caretrust REIT Inc (NASDAQ:CTRE) traded up 0.34% on Friday, hitting $17.83. 417,587 shares of the stock traded hands. Caretrust REIT Inc has a 52 week low of $12.53 and a 52 week high of $17.87. The firm’s 50 day moving average is $16.36 and its 200 day moving average is $15.16. The stock has a market cap of $1.18 billion, a price-to-earnings ratio of 34.35 and a beta of 0.93.
The firm also recently announced a quarterly dividend, which was paid on Friday, April 14th. Shareholders of record on Friday, March 31st were issued a dividend of $0.185 per share. This represents a $0.74 dividend on an annualized basis and a yield of 4.15%. This is a positive change from Caretrust REIT’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend was Wednesday, March 29th.
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A number of research firms recently commented on CTRE. Zacks Investment Research downgraded Caretrust REIT from a “buy” rating to a “hold” rating in a research note on Tuesday, January 31st. BMO Capital Markets reissued a “buy” rating and issued a $16.00 target price on shares of Caretrust REIT in a report on Monday, March 20th. Royal Bank of Canada cut Caretrust REIT from an “outperform” rating to a “sector perform” rating and set a $16.00 price target on the stock. in a report on Tuesday, January 3rd. They noted that the move was a valuation call. Finally, Canaccord Genuity lifted their price target on Caretrust REIT from $18.00 to $19.00 and gave the company a “buy” rating in a report on Thursday, March 30th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $16.50.
Caretrust REIT Company Profile
CareTrust REIT, Inc is a self-administered, self-managed real estate investment trust. The Company is engaged in the ownership, acquisition and leasing of healthcare-related properties. It makes investments in healthcare-related real estate assets. As of December 31, 2016, its real estate portfolio included 154 skilled nursing facilities (SNFs), SNF Campuses, assisted living facilities and independent living facilities.
