Sumitomo Mitsui Trust Holdings Inc. Buys 25,813 Shares of CareTrust REIT, Inc. (NASDAQ:CTRE)

Sumitomo Mitsui Trust Holdings Inc. raised its stake in CareTrust REIT, Inc. (NASDAQ:CTRE) by 23.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 137,586 shares of the real estate investment trust’s stock after buying an additional 25,813 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned about 0.12% of CareTrust REIT worth $3,079,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Global Retirement Partners LLC grew its holdings in shares of CareTrust REIT by 113.9% during the 4th quarter. Global Retirement Partners LLC now owns 1,388 shares of the real estate investment trust’s stock valued at $31,000 after purchasing an additional 739 shares during the last quarter. ORG Partners LLC bought a new position in shares of CareTrust REIT during the 3rd quarter valued at $31,000. AlphaMark Advisors LLC grew its holdings in shares of CareTrust REIT by 245.2% during the 4th quarter. AlphaMark Advisors LLC now owns 3,625 shares of the real estate investment trust’s stock valued at $81,000 after purchasing an additional 2,575 shares during the last quarter. Ninepoint Partners LP bought a new position in shares of CareTrust REIT during the 3rd quarter valued at $113,000. Finally, International Assets Investment Management LLC purchased a new stake in CareTrust REIT during the 4th quarter valued at $2,500,000. Institutional investors own 87.77% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on CTRE shares. KeyCorp increased their price target on shares of CareTrust REIT from $22.00 to $25.00 and gave the company an “overweight” rating in a research report on Friday, January 5th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of CareTrust REIT in a research report on Tuesday, January 30th. They issued a “hold” rating and a $23.00 target price for the company. Finally, Royal Bank of Canada dropped their target price on shares of CareTrust REIT from $25.00 to $24.00 and set an “outperform” rating for the company in a research report on Wednesday, January 31st. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $23.57.

CareTrust REIT Trading Down 0.4 %

Shares of NASDAQ CTRE opened at $23.80 on Thursday. CareTrust REIT, Inc. has a 1 year low of $18.18 and a 1 year high of $24.62. The stock has a market cap of $3.21 billion, a P/E ratio of 48.56 and a beta of 1.05. The firm has a 50-day moving average of $23.60 and a 200 day moving average of $22.62. The company has a debt-to-equity ratio of 0.42, a current ratio of 8.67 and a quick ratio of 8.67.

CareTrust REIT Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were given a dividend of $0.29 per share. This is a boost from CareTrust REIT’s previous quarterly dividend of $0.28. This represents a $1.16 dividend on an annualized basis and a yield of 4.87%. The ex-dividend date of this dividend was Wednesday, March 27th. CareTrust REIT’s dividend payout ratio (DPR) is 236.73%.

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.