Dockside LLC Purchases Shares of 43,677 CareTrust REIT, Inc. $CTRE

Dockside LLC purchased a new stake in CareTrust REIT, Inc. (NYSE:CTRE) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 43,677 shares of the company’s stock, valued at approximately $1,579,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Entropy Technologies LP boosted its position in CareTrust REIT by 25.9% in the 4th quarter. Entropy Technologies LP now owns 28,391 shares of the company’s stock valued at $1,027,000 after buying an additional 5,837 shares during the period. Arax Advisory Partners purchased a new stake in shares of CareTrust REIT during the fourth quarter worth approximately $49,000. Barclays PLC increased its stake in shares of CareTrust REIT by 14.2% during the fourth quarter. Barclays PLC now owns 368,508 shares of the company’s stock worth $13,325,000 after buying an additional 45,700 shares during the period. Kestra Advisory Services LLC increased its stake in shares of CareTrust REIT by 17.4% during the fourth quarter. Kestra Advisory Services LLC now owns 19,777 shares of the company’s stock worth $715,000 after buying an additional 2,931 shares during the period. Finally, Transamerica Financial Advisors LLC increased its stake in shares of CareTrust REIT by 520.0% during the fourth quarter. Transamerica Financial Advisors LLC now owns 868 shares of the company’s stock worth $32,000 after buying an additional 728 shares during the period. Hedge funds and other institutional investors own 87.77% of the company’s stock.

CareTrust REIT Price Performance

Shares of CTRE opened at $36.76 on Friday. CareTrust REIT, Inc. has a twelve month low of $27.81 and a twelve month high of $43.08. The firm’s fifty day simple moving average is $39.48 and its 200-day simple moving average is $38.48. The firm has a market capitalization of $8.68 billion, a price-to-earnings ratio of 23.56, a PEG ratio of 1.67 and a beta of 0.76. The company has a current ratio of 2.38, a quick ratio of 2.37 and a debt-to-equity ratio of 0.22.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Mizuho set a $45.00 target price on shares of CareTrust REIT in a research note on Friday, May 22nd. KeyCorp restated an “overweight” rating and issued a $46.00 price objective on shares of CareTrust REIT in a report on Friday, May 29th. Weiss Ratings lowered shares of CareTrust REIT from a “buy (a-)” rating to a “buy (b+)” rating in a report on Thursday. UBS Group raised their price objective on shares of CareTrust REIT from $44.00 to $48.00 and gave the company a “buy” rating in a report on Wednesday, February 18th. Finally, Zacks Research upgraded shares of CareTrust REIT from a “strong sell” rating to a “hold” rating in a report on Monday, May 25th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $44.09.

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.