CareTrust REIT, Inc. (NASDAQ:CTRE) Shares Purchased by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. increased its stake in shares of CareTrust REIT, Inc. (NASDAQ:CTRE) by 3.9% in the 1st quarter, Holdings Channel.com reports. The firm owned 548,153 shares of the real estate investment trust’s stock after purchasing an additional 20,715 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in CareTrust REIT were worth $13,358,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of CTRE. Global Retirement Partners LLC raised its position in CareTrust REIT by 113.9% in the fourth quarter. Global Retirement Partners LLC now owns 1,388 shares of the real estate investment trust’s stock worth $31,000 after acquiring an additional 739 shares in the last quarter. USA Financial Formulas purchased a new position in CareTrust REIT in the fourth quarter worth $67,000. AlphaMark Advisors LLC raised its position in CareTrust REIT by 245.2% in the fourth quarter. AlphaMark Advisors LLC now owns 3,625 shares of the real estate investment trust’s stock worth $81,000 after acquiring an additional 2,575 shares in the last quarter. M&T Bank Corp purchased a new position in CareTrust REIT in the fourth quarter worth $236,000. Finally, Neo Ivy Capital Management purchased a new position in CareTrust REIT in the fourth quarter worth $238,000. 87.77% of the stock is owned by institutional investors and hedge funds.

CareTrust REIT Stock Up 1.6 %

CTRE opened at $25.83 on Monday. The business’s fifty day simple moving average is $25.19 and its 200 day simple moving average is $23.70. The company has a quick ratio of 12.80, a current ratio of 12.80 and a debt-to-equity ratio of 0.36. CareTrust REIT, Inc. has a 52 week low of $19.25 and a 52 week high of $26.43. The firm has a market cap of $3.67 billion, a P/E ratio of 49.67 and a beta of 1.09.

CareTrust REIT Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be paid a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 4.49%. The ex-dividend date is Friday, June 28th. CareTrust REIT’s payout ratio is 223.08%.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on CTRE shares. KeyCorp raised their price target on CareTrust REIT from $25.00 to $27.00 and gave the company an “overweight” rating in a research report on Thursday, May 9th. Deutsche Bank Aktiengesellschaft raised their price target on CareTrust REIT from $23.00 to $27.00 and gave the company a “hold” rating in a research report on Monday, July 1st. Wells Fargo & Company raised their price target 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, Wedbush started coverage on CareTrust REIT in a research report on Wednesday, May 29th. They issued a “neutral” rating and a $26.00 price target for the company. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, CareTrust REIT currently has an average rating of “Moderate Buy” and an average price target of $25.00.

CareTrust REIT 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.