Vanguard Group Inc. Sells 176,594 Shares of CareTrust REIT, Inc. (NASDAQ:CTRE)

Vanguard Group Inc. decreased its holdings in CareTrust REIT, Inc. (NASDAQ:CTRE) by 1.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 16,019,781 shares of the real estate investment trust’s stock after selling 176,594 shares during the quarter. Vanguard Group Inc. owned approximately 13.45% of CareTrust REIT worth $328,406,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. ORG Partners LLC acquired a new position in CareTrust REIT in the third quarter valued at $31,000. Sunbelt Securities Inc. bought a new stake in CareTrust REIT in the 1st quarter worth about $34,000. Tower Research Capital LLC TRC grew its position in shares of CareTrust REIT by 366.0% during the 1st quarter. Tower Research Capital LLC TRC now owns 2,344 shares of the real estate investment trust’s stock valued at $46,000 after acquiring an additional 1,841 shares during the period. Point72 Middle East FZE bought a new position in CareTrust REIT in the 4th quarter worth approximately $84,000. Finally, Ninepoint Partners LP bought a new position in CareTrust REIT in the 3rd quarter worth approximately $113,000. Institutional investors own 87.77% of the company’s stock.

CareTrust REIT Stock Performance

CareTrust REIT stock opened at $24.20 on Thursday. The firm’s fifty day moving average price is $22.65 and its 200-day moving average price is $22.12. The company has a debt-to-equity ratio of 0.42, a quick ratio of 8.67 and a current ratio of 8.67. The stock has a market cap of $3.27 billion, a P/E ratio of 49.38 and a beta of 1.04. CareTrust REIT, Inc. has a fifty-two week low of $18.18 and a fifty-two week high of $24.57.

CareTrust REIT Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Stockholders of record on Thursday, March 28th will be given a dividend of $0.29 per share. The ex-dividend date is Wednesday, March 27th. This represents a $1.16 annualized dividend and a dividend yield of 4.79%. This is a boost from CareTrust REIT’s previous quarterly dividend of $0.28. CareTrust REIT’s dividend payout ratio (DPR) is 228.57%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on CTRE shares. Royal Bank of Canada cut their price objective on shares of CareTrust REIT from $25.00 to $24.00 and set an “outperform” rating for the company in a report on Wednesday, January 31st. Deutsche Bank Aktiengesellschaft began coverage on shares of CareTrust REIT in a research note on Tuesday, January 30th. They issued a “hold” rating and a $23.00 target price on the stock. Finally, KeyCorp increased their target price on shares of CareTrust REIT from $22.00 to $25.00 and gave the stock 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 company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $23.57.

About CareTrust REIT

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.