Daiwa Securities Group Inc. Sells 921,340 Shares of CareTrust REIT, Inc. $CTRE

Daiwa Securities Group Inc. lessened its stake in shares of CareTrust REIT, Inc. (NYSE:CTRE) by 28.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,316,967 shares of the company’s stock after selling 921,340 shares during the quarter. Daiwa Securities Group Inc.’s holdings in CareTrust REIT were worth $83,782,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in CTRE. EverSource Wealth Advisors LLC boosted its position in shares of CareTrust REIT by 134.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,124 shares of the company’s stock worth $34,000 after purchasing an additional 644 shares in the last quarter. Heritage Wealth Advisors increased its stake in CareTrust REIT by 42.9% in the 3rd quarter. Heritage Wealth Advisors now owns 1,000 shares of the company’s stock valued at $35,000 after buying an additional 300 shares during the last quarter. Allworth Financial LP increased its stake in CareTrust REIT by 114.0% in the 3rd quarter. Allworth Financial LP now owns 1,042 shares of the company’s stock valued at $36,000 after buying an additional 555 shares during the last quarter. Groesbeck Investment Management Corp NJ purchased a new stake in CareTrust REIT in the 4th quarter valued at about $43,000. Finally, Eurizon Capital SGR S.p.A. purchased a new stake in CareTrust REIT in the 4th quarter valued at about $44,000. Institutional investors own 87.77% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on CTRE. KeyCorp reissued an “overweight” rating and set a $46.00 target price on shares of CareTrust REIT in a research report on Friday, May 29th. Cantor Fitzgerald increased their target price on shares of CareTrust REIT from $37.00 to $42.00 and gave the company a “neutral” rating in a research report on Tuesday, February 17th. Royal Bank Of Canada increased their target price on shares of CareTrust REIT from $41.00 to $44.00 and gave the company an “outperform” rating in a research report on Tuesday, February 24th. Weiss Ratings downgraded shares of CareTrust REIT from a “buy (a)” rating to a “buy (a-)” rating in a research report on Tuesday, May 26th. Finally, Mizuho set a $45.00 target price on shares of CareTrust REIT in a research report on Friday, May 22nd. Three research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $44.09.

CareTrust REIT Stock Down 1.7%

CareTrust REIT stock opened at $37.38 on Friday. CareTrust REIT, Inc. has a twelve month low of $27.81 and a twelve month high of $43.08. The firm has a 50 day moving average price of $39.45 and a 200-day moving average price of $38.46. The company has a market capitalization of $8.83 billion, a P/E ratio of 23.96, a P/E/G ratio of 1.72 and a beta of 0.76. The company has a quick ratio of 2.37, a current ratio of 2.38 and a debt-to-equity ratio of 0.22.

CareTrust REIT Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st were issued a $0.39 dividend. This is a boost from CareTrust REIT’s previous quarterly dividend of $0.34. The ex-dividend date of this dividend was Tuesday, March 31st. This represents a $1.56 annualized dividend and a yield of 4.2%. CareTrust REIT’s payout ratio is 100.00%.

About CareTrust REIT

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.