Westside Investment Management Inc. bought a new stake in shares of Caretrust REIT Inc (NASDAQ:CTRE) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 2,500 shares of the real estate investment trust’s stock, valued at approximately $16,842,000.
A number of other institutional investors have also made changes to their positions in CTRE. Quadrant Capital Group LLC raised its stake in Caretrust REIT by 685.3% during the 1st quarter. Quadrant Capital Group LLC now owns 2,733 shares of the real estate investment trust’s stock valued at $62,000 after acquiring an additional 2,385 shares in the last quarter. Advisor Group Inc. raised its stake in Caretrust REIT by 60.4% during the 4th quarter. Advisor Group Inc. now owns 4,168 shares of the real estate investment trust’s stock valued at $77,000 after acquiring an additional 1,570 shares in the last quarter. Nisa Investment Advisors LLC bought a new stake in Caretrust REIT during the 1st quarter valued at $92,000. Meridian Wealth Management LLC bought a new stake in Caretrust REIT during the 2nd quarter valued at $95,000. Finally, First Quadrant L P CA bought a new stake in Caretrust REIT during the 1st quarter valued at $127,000. 84.03% of the stock is currently owned by hedge funds and other institutional investors.
CTRE has been the topic of several recent analyst reports. BMO Capital Markets lifted their target price on Caretrust REIT from $22.00 to $25.00 and gave the company an “outperform” rating in a research note on Tuesday, April 9th. Raymond James downgraded Caretrust REIT from a “strong-buy” rating to a “market perform” rating and set a $25.00 target price on the stock. in a research note on Friday, May 31st. BidaskClub downgraded Caretrust REIT from a “hold” rating to a “sell” rating in a research note on Wednesday, July 24th. Zacks Investment Research downgraded Caretrust REIT from a “buy” rating to a “hold” rating in a research note on Wednesday. Finally, ValuEngine cut Caretrust REIT from a “buy” rating to a “hold” rating in a research report on Thursday. One investment analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company’s stock. Caretrust REIT currently has an average rating of “Hold” and a consensus target price of $23.00.
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 consensus estimate of $0.32 by ($0.14). Caretrust REIT had a net margin of 37.46% and a return on equity of 8.08%. The firm had revenue of $39.66 million for the quarter, compared to analyst estimates of $40.79 million. During the same quarter last year, the business posted $0.32 earnings per share. The firm’s revenue for the quarter was up 4.1% compared to the same quarter last year. Equities analysts forecast that Caretrust REIT Inc will post 1.39 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Friday, June 28th were given a dividend of $0.225 per share. This represents a $0.90 annualized dividend and a dividend yield of 3.89%. The ex-dividend date was Thursday, June 27th. Caretrust REIT’s dividend payout ratio (DPR) is presently 70.31%.
Caretrust REIT Company Profile
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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