William Blair Investment Management LLC Sells 85,482 Shares of CareTrust REIT, Inc. $CTRE

William Blair Investment Management LLC cut its position in CareTrust REIT, Inc. (NYSE:CTRE) by 9.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 835,850 shares of the company’s stock after selling 85,482 shares during the quarter. William Blair Investment Management LLC owned about 0.37% of CareTrust REIT worth $30,224,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in CTRE. EverSource Wealth Advisors LLC raised its holdings in CareTrust REIT by 134.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,124 shares of the company’s stock valued at $34,000 after acquiring an additional 644 shares in the last quarter. Heritage Wealth Advisors raised its holdings in shares of CareTrust REIT by 42.9% during the 3rd quarter. Heritage Wealth Advisors now owns 1,000 shares of the company’s stock worth $35,000 after buying an additional 300 shares in the last quarter. Allworth Financial LP raised its holdings in shares of CareTrust REIT by 114.0% during the 3rd quarter. Allworth Financial LP now owns 1,042 shares of the company’s stock worth $36,000 after buying an additional 555 shares in the last quarter. Groesbeck Investment Management Corp NJ acquired a new position in shares of CareTrust REIT during the 4th quarter worth $43,000. Finally, USA Financial Formulas acquired a new position in shares of CareTrust REIT during the 4th quarter worth $52,000. 87.77% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

CTRE has been the subject of a number of research analyst reports. Cantor Fitzgerald boosted their price target on CareTrust REIT from $37.00 to $42.00 and gave the stock a “neutral” rating in a report on Tuesday, February 17th. Zacks Research cut CareTrust REIT from a “hold” rating to a “strong sell” rating in a report on Wednesday, March 25th. Mizuho set a $45.00 price target on CareTrust REIT in a report on Friday. Weiss Ratings raised CareTrust REIT from a “buy (b+)” rating to a “buy (a-)” rating in a report on Monday, January 26th. Finally, Royal Bank Of Canada boosted their price target on CareTrust REIT from $41.00 to $44.00 and gave the stock an “outperform” rating in a report on Tuesday, February 24th. Three equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, CareTrust REIT has a consensus rating of “Buy” and an average target price of $43.09.

CareTrust REIT Price Performance

Shares of CTRE opened at $41.19 on Monday. CareTrust REIT, Inc. has a 12-month low of $27.81 and a 12-month high of $43.08. The business has a 50-day simple moving average of $39.25 and a two-hundred day simple moving average of $38.20. The company has a quick ratio of 2.37, a current ratio of 2.38 and a debt-to-equity ratio of 0.22. The stock has a market cap of $9.73 billion, a PE ratio of 26.40, a PEG ratio of 2.72 and a beta of 0.76.

CareTrust REIT Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st were given a $0.39 dividend. This is a boost from CareTrust REIT’s previous quarterly dividend of $0.34. The ex-dividend date was Tuesday, March 31st. This represents a $1.56 dividend on an annualized basis and a dividend yield of 3.8%. CareTrust REIT’s dividend 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.