Strs Ohio grew its holdings in shares of CareTrust REIT, Inc. (NASDAQ:CTRE) by 2.5% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 116,247 shares of the real estate investment trust’s stock after acquiring an additional 2,858 shares during the period. Strs Ohio owned about 0.15% of CareTrust REIT worth $2,213,000 as of its most recent SEC filing.
Several other hedge funds have also added to or reduced their stakes in the company. Navellier & Associates Inc raised its stake in shares of CareTrust REIT by 1.0% during the second quarter. Navellier & Associates Inc now owns 41,831 shares of the real estate investment trust’s stock valued at $776,000 after acquiring an additional 421 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new position in shares of CareTrust REIT during the second quarter valued at $281,000. Wasatch Advisors Inc. raised its stake in shares of CareTrust REIT by 1.0% during the second quarter. Wasatch Advisors Inc. now owns 3,408,826 shares of the real estate investment trust’s stock valued at $63,200,000 after acquiring an additional 34,737 shares during the last quarter. Verition Fund Management LLC bought a new position in shares of CareTrust REIT during the second quarter valued at $229,000. Finally, Piedmont Investment Advisors LLC bought a new position in shares of CareTrust REIT during the second quarter valued at $291,000. 89.56% of the stock is owned by hedge funds and other institutional investors.
The company also recently declared a quarterly dividend, which was paid on Friday, October 13th. Shareholders of record on Friday, September 29th were given a dividend of $0.185 per share. The ex-dividend date was Thursday, September 28th. This represents a $0.74 annualized dividend and a yield of 3.92%. CareTrust REIT’s payout ratio is currently 164.45%.
CTRE has been the subject of several analyst reports. Zacks Investment Research raised shares of CareTrust REIT from a “hold” rating to a “buy” rating and set a $20.00 price target for the company in a research note on Monday, July 17th. BidaskClub downgraded shares of CareTrust REIT from a “strong-buy” rating to a “buy” rating in a research note on Saturday, July 8th. KeyCorp reissued a “buy” rating and set a $20.00 target price on shares of CareTrust REIT in a research note on Friday, August 25th. Finally, Capital One Financial Corporation initiated coverage on shares of CareTrust REIT in a research note on Monday, October 23rd. They set an “equal weight” rating and a $21.00 target price for the company. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $19.00.
About CareTrust REIT
CareTrust REIT, Inc is a self-administered, self-managed real estate investment trust. The Company is engaged in the ownership, acquisition and leasing of healthcare-related properties. It makes investments in healthcare-related real estate assets. As of December 31, 2016, its real estate portfolio included 154 skilled nursing facilities (SNFs), SNF Campuses, assisted living facilities and independent living facilities.
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