Vanguard Group Inc. Acquires 1,871,125 Shares of CareTrust REIT, Inc. (NASDAQ:CTRE)

Vanguard Group Inc. boosted its holdings in CareTrust REIT, Inc. (NASDAQ:CTRE) by 11.7% during the 4th quarter, Holdings Channel.com reports. The fund owned 17,890,906 shares of the real estate investment trust’s stock after purchasing an additional 1,871,125 shares during the quarter. Vanguard Group Inc. owned 0.14% of CareTrust REIT worth $400,398,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in CTRE. Global Retirement Partners LLC lifted its position in CareTrust REIT by 113.9% in 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 acquiring an additional 739 shares in the last quarter. USA Financial Formulas purchased a new stake in CareTrust REIT in the 4th quarter valued at about $67,000. AlphaMark Advisors LLC increased its stake in CareTrust REIT by 245.2% in the 4th quarter. AlphaMark Advisors LLC now owns 3,625 shares of the real estate investment trust’s stock valued at $81,000 after buying an additional 2,575 shares during the last quarter. M&T Bank Corp purchased a new stake in CareTrust REIT in the 4th quarter valued at about $236,000. Finally, Neo Ivy Capital Management purchased a new stake in CareTrust REIT in the 4th quarter valued at about $238,000. Institutional investors own 87.77% of the company’s stock.

CareTrust REIT Stock Up 1.1 %

CTRE opened at $24.92 on Friday. The company has a 50 day moving average of $25.01 and a 200 day moving average of $23.57. The company has a market cap of $3.54 billion, a PE ratio of 47.92 and a beta of 1.06. CareTrust REIT, Inc. has a 12 month low of $19.25 and a 12 month high of $26.43. The company has a current ratio of 12.80, a quick ratio of 12.80 and a debt-to-equity ratio of 0.36.

CareTrust REIT Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be issued a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 4.65%. The ex-dividend date is Friday, June 28th. CareTrust REIT’s payout ratio is 223.08%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on CTRE shares. Wedbush started coverage on shares of CareTrust REIT in a research note on Wednesday, May 29th. They issued a “neutral” rating and a $26.00 price objective for the company. KeyCorp increased their price objective on shares of CareTrust REIT from $25.00 to $27.00 and gave the company an “overweight” rating in a research note on Thursday, May 9th. Finally, Wells Fargo & Company raised their price target on shares of CareTrust REIT from $24.00 to $26.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 30th. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $24.50.

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.