Versor Investments LP Sells 2,123 Shares of CareTrust REIT, Inc. (NASDAQ:CTRE)

Versor Investments LP decreased its stake in CareTrust REIT, Inc. (NASDAQ:CTRE) by 7.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 28,277 shares of the real estate investment trust’s stock after selling 2,123 shares during the period. Versor Investments LP’s holdings in CareTrust REIT were worth $710,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in shares of CareTrust REIT by 13.3% in the 1st quarter. Vanguard Group Inc. now owns 20,267,738 shares of the real estate investment trust’s stock valued at $493,925,000 after acquiring an additional 2,376,832 shares during the last quarter. Zimmer Partners LP bought a new position in CareTrust REIT in the first quarter valued at about $41,763,000. GRS Advisors LLC bought a new stake in shares of CareTrust REIT during the fourth quarter worth about $31,656,000. Norges Bank acquired a new position in shares of CareTrust REIT in the fourth quarter valued at approximately $18,640,000. Finally, Hazelview Securities Inc. acquired a new position in shares of CareTrust REIT in the first quarter valued at approximately $20,047,000. Institutional investors and hedge funds own 87.77% of the company’s stock.

Analyst Ratings Changes

CTRE has been the topic of a number of research reports. Wells Fargo & Company boosted their target price on shares of CareTrust REIT from $24.00 to $26.00 and gave the stock an “equal weight” rating in a report on Thursday, May 30th. Royal Bank of Canada increased their price objective on CareTrust REIT from $27.00 to $31.00 and gave the company an “outperform” rating in a report on Thursday, August 22nd. Deutsche Bank Aktiengesellschaft raised their target price on CareTrust REIT from $23.00 to $27.00 and gave the stock a “hold” rating in a research report on Monday, July 1st. KeyCorp upped 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. Finally, Wedbush assumed coverage on CareTrust REIT in a research report on Wednesday, May 29th. They set a “neutral” rating and a $26.00 price objective for the company. 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 presently has an average rating of “Hold” and a consensus target price of $26.67.

CareTrust REIT Stock Performance

CTRE stock opened at $29.51 on Wednesday. The firm has a market cap of $4.19 billion, a PE ratio of 56.75 and a beta of 1.09. The company has a current ratio of 13.37, a quick ratio of 13.37 and a debt-to-equity ratio of 0.34. The stock has a 50-day moving average price of $27.22 and a 200-day moving average price of $25.37. CareTrust REIT, Inc. has a 1-year low of $19.67 and a 1-year high of $30.02.

CareTrust REIT (NASDAQ:CTRE) last issued its earnings results 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 business had revenue of $68.89 million during the quarter, compared to the consensus estimate of $66.36 million. CareTrust REIT had a return on equity of 4.84% and a net margin of 30.09%. During the same quarter in the previous year, the firm posted $0.35 earnings per share. As a group, equities research analysts expect that CareTrust REIT, Inc. will post 1.48 earnings per share for the current year.

CareTrust REIT Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Friday, June 28th were issued a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 3.93%. The ex-dividend date was Friday, June 28th. CareTrust REIT’s payout ratio is 223.08%.

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.