Mutual of America Capital Management LLC Boosts Stake in CareTrust REIT, Inc. (NASDAQ:CTRE)

Mutual of America Capital Management LLC raised its position in CareTrust REIT, Inc. (NASDAQ:CTRE) by 19.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 20,848 shares of the real estate investment trust’s stock after purchasing an additional 3,414 shares during the quarter. Mutual of America Capital Management LLC’s holdings in CareTrust REIT were worth $467,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CTRE. Global Retirement Partners LLC increased its position in shares of CareTrust REIT by 113.9% during the fourth quarter. Global Retirement Partners LLC now owns 1,388 shares of the real estate investment trust’s stock worth $31,000 after acquiring an additional 739 shares during the period. ORG Partners LLC purchased a new position in shares of CareTrust REIT during the third quarter worth approximately $31,000. AlphaMark Advisors LLC increased its position in shares of CareTrust REIT by 245.2% during the fourth quarter. AlphaMark Advisors LLC now owns 3,625 shares of the real estate investment trust’s stock worth $81,000 after acquiring an additional 2,575 shares during the period. Ninepoint Partners LP purchased a new position in shares of CareTrust REIT during the third quarter worth approximately $113,000. Finally, International Assets Investment Management LLC purchased a new position in shares of CareTrust REIT during the fourth quarter worth approximately $2,500,000. 87.77% of the stock is owned by hedge funds and other institutional investors.

CareTrust REIT Price Performance

Shares of CTRE opened at $23.92 on Wednesday. The company has a market cap of $3.23 billion, a price-to-earnings ratio of 48.78 and a beta of 1.05. CareTrust REIT, Inc. has a twelve month low of $18.18 and a twelve month high of $24.62. The company has a quick ratio of 8.67, a current ratio of 8.67 and a debt-to-equity ratio of 0.42. The company has a 50 day moving average of $23.57 and a two-hundred day moving average of $22.60.

CareTrust REIT Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were paid a dividend of $0.29 per share. This is an increase from CareTrust REIT’s previous quarterly dividend of $0.28. This represents a $1.16 annualized dividend and a dividend yield of 4.85%. The ex-dividend date was Wednesday, March 27th. CareTrust REIT’s payout ratio is presently 236.73%.

Wall Street Analysts Forecast Growth

CTRE has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft initiated coverage on shares of CareTrust REIT in a research report on Tuesday, January 30th. They set a “hold” rating and a $23.00 target price on the stock. Royal Bank of Canada reduced their target price on shares of CareTrust REIT from $25.00 to $24.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 31st. Finally, KeyCorp increased their price objective on shares of CareTrust REIT from $22.00 to $25.00 and gave the company an “overweight” rating in a research note on Friday, January 5th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, CareTrust REIT currently has an average rating of “Moderate Buy” and a consensus price target of $23.57.

CareTrust REIT Company Profile

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.