Envestnet Portfolio Solutions Inc. Makes New $212,000 Investment in CareTrust REIT, Inc. (NASDAQ:CTRE)

Envestnet Portfolio Solutions Inc. purchased a new stake in shares of CareTrust REIT, Inc. (NASDAQ:CTRE) during the second quarter, Holdings Channel.com reports. The firm purchased 8,454 shares of the real estate investment trust’s stock, valued at approximately $212,000.

Several other hedge funds have also made changes to their positions in CTRE. Mackenzie Financial Corp raised its stake in CareTrust REIT by 3.1% during the 4th quarter. Mackenzie Financial Corp now owns 16,317 shares of the real estate investment trust’s stock valued at $365,000 after purchasing an additional 484 shares during the period. Foundations Investment Advisors LLC raised its position in CareTrust REIT by 5.4% during the fourth quarter. Foundations Investment Advisors LLC now owns 12,103 shares of the real estate investment trust’s stock valued at $254,000 after buying an additional 624 shares during the period. Allspring Global Investments Holdings LLC lifted its stake in CareTrust REIT by 4.1% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 22,946 shares of the real estate investment trust’s stock worth $559,000 after acquiring an additional 895 shares in the last quarter. New York State Common Retirement Fund boosted its position in CareTrust REIT by 2.2% during the 4th quarter. New York State Common Retirement Fund now owns 41,516 shares of the real estate investment trust’s stock worth $929,000 after acquiring an additional 910 shares during the period. Finally, GAMMA Investing LLC boosted its position in CareTrust REIT by 187.7% during the 2nd quarter. GAMMA Investing LLC now owns 1,752 shares of the real estate investment trust’s stock worth $44,000 after acquiring an additional 1,143 shares during the period. Hedge funds and other institutional investors own 87.77% of the company’s stock.

CareTrust REIT Trading Up 1.1 %

CareTrust REIT stock opened at $29.21 on Friday. CareTrust REIT, Inc. has a one year low of $19.66 and a one year high of $29.24. The company’s fifty day moving average price is $26.57 and its two-hundred day moving average price is $24.95. The company has a debt-to-equity ratio of 0.36, a current ratio of 12.80 and a quick ratio of 12.80. The company has a market capitalization of $4.15 billion, a price-to-earnings ratio of 56.16 and a beta of 1.09.

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

CareTrust REIT Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Friday, June 28th were paid a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.97%. The ex-dividend date was Friday, June 28th. CareTrust REIT’s payout ratio is 223.08%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on CTRE. Wells Fargo & Company increased 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 report on Thursday, May 30th. Wedbush assumed coverage on shares of CareTrust REIT in a research report on Wednesday, May 29th. They issued a “neutral” rating and a $26.00 target price for the company. KeyCorp boosted their price target on shares of CareTrust REIT from $25.00 to $27.00 and gave the company an “overweight” rating in a report on Thursday, May 9th. Royal Bank of Canada increased their price objective on CareTrust REIT from $27.00 to $31.00 and gave the stock an “outperform” rating in a report on Thursday. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on CareTrust REIT from $23.00 to $27.00 and gave the company a “hold” rating in a research note on Monday, July 1st. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $26.67.

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.