Milestone Asset Management LLC Purchases 16,915 Shares of CareTrust REIT, Inc. (NASDAQ:CTRE)

Milestone Asset Management LLC raised its position in shares of CareTrust REIT, Inc. (NASDAQ:CTRE) by 155.2% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 27,813 shares of the real estate investment trust’s stock after buying an additional 16,915 shares during the period. Milestone Asset Management LLC’s holdings in CareTrust REIT were worth $698,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. International Assets Investment Management LLC bought a new stake in shares of CareTrust REIT in the 4th quarter worth approximately $2,500,000. Mutual of America Capital Management LLC boosted its holdings in CareTrust REIT by 19.6% in the fourth quarter. Mutual of America Capital Management LLC now owns 20,848 shares of the real estate investment trust’s stock valued at $467,000 after acquiring an additional 3,414 shares in the last quarter. Louisiana State Employees Retirement System purchased a new position in CareTrust REIT during the 4th quarter valued at $1,334,000. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in CareTrust REIT by 23.1% in the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 137,586 shares of the real estate investment trust’s stock worth $3,079,000 after purchasing an additional 25,813 shares in the last quarter. Finally, Vontobel Holding Ltd. purchased a new stake in shares of CareTrust REIT in the 4th quarter worth about $275,000. Institutional investors own 87.77% of the company’s stock.

CareTrust REIT Stock Up 1.2 %

Shares of NASDAQ:CTRE traded up $0.33 on Monday, hitting $28.16. 1,054,631 shares of the company traded hands, compared to its average volume of 1,385,720. The stock has a 50 day simple moving average of $26.22 and a 200-day simple moving average of $24.73. The company has a quick ratio of 12.80, a current ratio of 12.80 and a debt-to-equity ratio of 0.36. The company has a market cap of $4.00 billion, a PE ratio of 54.31 and a beta of 1.09. CareTrust REIT, Inc. has a 52 week low of $19.57 and a 52 week high of $28.31.

CareTrust REIT (NASDAQ:CTRE) last released its quarterly earnings data on Thursday, August 1st. The real estate investment trust reported $0.07 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.29). The firm had revenue of $68.89 million for the quarter, compared to the consensus estimate of $66.36 million. CareTrust REIT had a net margin of 30.09% and a return on equity of 5.31%. During the same quarter in the prior year, the business posted $0.35 earnings per share. As a group, research analysts expect that CareTrust REIT, Inc. will post 1.47 earnings per share for the current year.

CareTrust REIT Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Friday, June 28th were paid a dividend of $0.29 per share. The ex-dividend date was Friday, June 28th. This represents a $1.16 annualized dividend and a yield of 4.12%. CareTrust REIT’s dividend payout ratio is 223.08%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on CTRE shares. Wedbush assumed coverage on CareTrust REIT in a report on Wednesday, May 29th. They set a “neutral” rating and a $26.00 target price on the stock. Deutsche Bank Aktiengesellschaft upped their price target on CareTrust REIT from $23.00 to $27.00 and gave the stock a “hold” rating in a research note on Monday, July 1st. Wells Fargo & Company raised their price objective on CareTrust REIT from $24.00 to $26.00 and gave the company an “equal weight” rating in a research report on Thursday, May 30th. Finally, KeyCorp upped their target price on shares of CareTrust REIT from $25.00 to $27.00 and gave the stock an “overweight” rating in a research report on Thursday, May 9th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $25.50.

CareTrust REIT Company Profile

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.