Miles Capital Inc. purchased a new position in shares of Caretrust REIT Inc (NASDAQ:CTRE) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 10,809 shares of the real estate investment trust’s stock, valued at approximately $254,000.
A number of other institutional investors have also modified their holdings of the stock. Piedmont Investment Advisors Inc. grew its position in shares of Caretrust REIT by 11.0% in the first quarter. Piedmont Investment Advisors Inc. now owns 22,141 shares of the real estate investment trust’s stock valued at $519,000 after purchasing an additional 2,190 shares in the last quarter. Penserra Capital Management LLC purchased a new position in shares of Caretrust REIT in the first quarter valued at $14,557,000. Great West Life Assurance Co. Can grew its position in shares of Caretrust REIT by 3.6% in the first quarter. Great West Life Assurance Co. Can now owns 142,463 shares of the real estate investment trust’s stock valued at $3,338,000 after purchasing an additional 4,885 shares in the last quarter. Cambridge Investment Research Advisors Inc. purchased a new position in shares of Caretrust REIT in the first quarter valued at $782,000. Finally, New York State Common Retirement Fund grew its position in shares of Caretrust REIT by 7.0% in the first quarter. New York State Common Retirement Fund now owns 84,400 shares of the real estate investment trust’s stock valued at $1,980,000 after purchasing an additional 5,500 shares in the last quarter. Institutional investors and hedge funds own 82.23% of the company’s stock.
Several equities analysts have recently weighed in on CTRE shares. BidaskClub cut Caretrust REIT from a “strong-buy” rating to a “buy” rating in a research report on Thursday, April 4th. BMO Capital Markets reiterated a “buy” rating and issued a $22.00 price target on shares of Caretrust REIT in a research report on Thursday, February 14th. Finally, Zacks Investment Research cut Caretrust REIT from a “hold” rating to a “sell” rating in a research report on Tuesday, March 5th. Two equities research analysts have rated the stock with a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $22.71.
Caretrust REIT (NASDAQ:CTRE) last issued its quarterly earnings results on Tuesday, May 7th. The real estate investment trust reported $0.18 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.32 by ($0.14). Caretrust REIT had a return on equity of 8.08% and a net margin of 37.46%. The firm had revenue of $39.66 million for the quarter, compared to the consensus estimate of $40.79 million. During the same period last year, the firm earned $0.32 EPS. The company’s revenue for the quarter was up 4.1% on a year-over-year basis. On average, research analysts anticipate that Caretrust REIT Inc will post 1.4 earnings per share for the current year.
About Caretrust REIT
CareTrust REIT, Inc is a self-administered, publicly-traded real estate investment trust engaged in the ownership, acquisition and leasing of seniors housing and healthcare-related properties. With 199 net-leased healthcare properties and three operated seniors housing properties in 27 states, CareTrust is pursuing opportunities across the nation to acquire properties that will be leased to a diverse group of local, regional and national seniors housing operators, healthcare services providers, and other healthcare-related businesses.
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