California Public Employees Retirement System boosted its stake in shares of Caretrust REIT Inc (NASDAQ:CTRE) by 13.1% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 148,786 shares of the real estate investment trust’s stock after purchasing an additional 17,286 shares during the quarter. California Public Employees Retirement System’s holdings in Caretrust REIT were worth $2,833,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Janus Henderson Group PLC acquired a new stake in Caretrust REIT during the 3rd quarter worth about $197,000. Asset Management One Co. Ltd. raised its holdings in Caretrust REIT by 3.5% during the 3rd quarter. Asset Management One Co. Ltd. now owns 158,281 shares of the real estate investment trust’s stock worth $3,001,000 after buying an additional 5,392 shares during the period. Dimensional Fund Advisors LP raised its holdings in Caretrust REIT by 3.6% during the 3rd quarter. Dimensional Fund Advisors LP now owns 983,245 shares of the real estate investment trust’s stock worth $18,721,000 after buying an additional 34,038 shares during the period. Schwab Charles Investment Management Inc. raised its holdings in Caretrust REIT by 20.0% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 353,631 shares of the real estate investment trust’s stock worth $6,734,000 after buying an additional 58,983 shares during the period. Finally, Wells Fargo & Company MN raised its holdings in Caretrust REIT by 2.0% during the 3rd quarter. Wells Fargo & Company MN now owns 206,262 shares of the real estate investment trust’s stock worth $3,927,000 after buying an additional 4,131 shares during the period. Hedge funds and other institutional investors own 91.15% of the company’s stock.
CTRE has been the topic of several recent analyst reports. Capital One Financial initiated coverage on Caretrust REIT in a report on Monday, October 23rd. They set an “equal weight” rating and a $21.00 price objective on the stock. BidaskClub cut Caretrust REIT from a “hold” rating to a “sell” rating in a research note on Saturday, December 2nd. Stephens set a $19.00 target price on Caretrust REIT and gave the company a “buy” rating in a research note on Friday. Wells Fargo & Co raised Caretrust REIT from a “market perform” rating to an “outperform” rating and set a $20.00 target price on the stock in a research note on Tuesday, December 19th. Finally, BMO Capital Markets reaffirmed a “hold” rating and set a $20.00 target price on shares of Caretrust REIT in a research note on Thursday, November 9th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $19.78.
Caretrust REIT (NASDAQ:CTRE) last released its earnings results on Wednesday, November 8th. The real estate investment trust reported $0.28 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.29 by ($0.01). Caretrust REIT had a net margin of 25.68% and a return on equity of 5.76%. The business had revenue of $32.90 million for the quarter, compared to analysts’ expectations of $32.91 million. During the same period last year, the firm earned $0.28 EPS. The company’s revenue was up 21.4% compared to the same quarter last year. equities research analysts forecast that Caretrust REIT Inc will post 1.16 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 16th. Investors of record on Friday, December 29th will be paid a $0.185 dividend. The ex-dividend date is Thursday, December 28th. This represents a $0.74 annualized dividend and a dividend yield of 4.80%. Caretrust REIT’s payout ratio is 160.87%.
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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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