Sit Investment Associates Inc. Sells 31,897 Shares of CareTrust REIT, Inc. $CTRE

Sit Investment Associates Inc. lessened its stake in CareTrust REIT, Inc. (NYSE:CTRE) by 11.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 235,270 shares of the company’s stock after selling 31,897 shares during the period. Sit Investment Associates Inc. owned approximately 0.11% of CareTrust REIT worth $8,507,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Kemnay Advisory Services Inc. bought a new position in CareTrust REIT in the fourth quarter valued at $27,000. Transamerica Financial Advisors LLC grew its holdings in shares of CareTrust REIT by 520.0% during the 4th quarter. Transamerica Financial Advisors LLC now owns 868 shares of the company’s stock valued at $32,000 after purchasing an additional 728 shares during the last quarter. Heritage Wealth Advisors grew 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 valued at $35,000 after purchasing an additional 300 shares during the last quarter. Allworth Financial LP raised its position in CareTrust REIT by 114.0% in the 3rd quarter. Allworth Financial LP now owns 1,042 shares of the company’s stock worth $36,000 after purchasing an additional 555 shares during the period. Finally, Mcguire Capital Advisors Inc. purchased a new position in CareTrust REIT in the 4th quarter worth $40,000. Institutional investors own 87.77% of the company’s stock.

CareTrust REIT Stock Up 1.8%

NYSE CTRE opened at $37.02 on Friday. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.38 and a quick ratio of 2.37. The stock has a market capitalization of $8.75 billion, a PE ratio of 23.73, a PEG ratio of 1.65 and a beta of 0.76. CareTrust REIT, Inc. has a 1 year low of $29.52 and a 1 year high of $43.08. The business’s 50-day moving average is $39.38 and its 200 day moving average is $38.47.

CareTrust REIT Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be given a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date is Tuesday, June 30th. CareTrust REIT’s dividend payout ratio (DPR) is currently 100.00%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Citigroup restated a “market outperform” rating on shares of CareTrust REIT in a research report on Wednesday, June 10th. KeyCorp restated an “overweight” rating and set a $46.00 target price on shares of CareTrust REIT in a report on Friday, May 29th. Royal Bank Of Canada raised their price target on CareTrust REIT from $41.00 to $44.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 24th. Weiss Ratings cut CareTrust REIT from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Thursday, June 11th. Finally, Mizuho set a $45.00 price objective on CareTrust REIT in a research note on Friday, May 22nd. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, CareTrust REIT currently has an average rating of “Moderate Buy” and a consensus price target of $44.82.

CareTrust REIT Company 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.