HGK Asset Management Inc. Reduces Stake in Caretrust REIT Inc (CTRE)

HGK Asset Management Inc. trimmed its stake in shares of Caretrust REIT Inc (NASDAQ:CTRE) by 29.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 25,411 shares of the real estate investment trust’s stock after selling 10,742 shares during the quarter. HGK Asset Management Inc.’s holdings in Caretrust REIT were worth $596,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently made changes to their positions in the company. JPMorgan Chase & Co. boosted its stake in Caretrust REIT by 137.4% during the 1st quarter. JPMorgan Chase & Co. now owns 253,155 shares of the real estate investment trust’s stock valued at $5,938,000 after purchasing an additional 146,532 shares in the last quarter. Oregon Public Employees Retirement Fund boosted its stake in Caretrust REIT by 1.8% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 32,487 shares of the real estate investment trust’s stock valued at $762,000 after purchasing an additional 587 shares in the last quarter. Mason Street Advisors LLC boosted its stake in Caretrust REIT by 9.5% during the 1st quarter. Mason Street Advisors LLC now owns 28,534 shares of the real estate investment trust’s stock valued at $669,000 after purchasing an additional 2,484 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in Caretrust REIT by 6.0% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 30,493 shares of the real estate investment trust’s stock valued at $715,000 after purchasing an additional 1,729 shares in the last quarter. Finally, New York State Teachers Retirement System boosted its stake in Caretrust REIT by 4.0% during the 1st quarter. New York State Teachers Retirement System now owns 138,004 shares of the real estate investment trust’s stock valued at $3,238,000 after purchasing an additional 5,252 shares in the last quarter. Institutional investors and hedge funds own 89.13% of the company’s stock.

A number of brokerages have issued reports on CTRE. Stifel Nicolaus set a $26.00 price target on Caretrust REIT and gave the company a “buy” rating in a research note on Wednesday, May 8th. Zacks Investment Research raised Caretrust REIT from a “hold” rating to a “buy” rating and set a $27.00 price target for the company in a research note on Thursday, May 9th. BidaskClub raised Caretrust REIT from a “hold” rating to a “buy” rating in a research note on Friday, May 3rd. Finally, BMO Capital Markets increased their price target on Caretrust REIT from $22.00 to $25.00 and gave the company an “outperform” rating in a research note on Tuesday, April 9th. Two analysts have rated the stock with a hold rating, six have given a buy rating and two have assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $22.71.

CTRE opened at $25.31 on Friday. The firm has a market cap of $2.42 billion, a PE ratio of 19.77 and a beta of 0.91. The company has a debt-to-equity ratio of 0.84, a current ratio of 15.94 and a quick ratio of 15.94. Caretrust REIT Inc has a fifty-two week low of $15.12 and a fifty-two week high of $25.54.

Caretrust REIT (NASDAQ:CTRE) last released its quarterly earnings data on Tuesday, May 7th. The real estate investment trust reported $0.18 earnings per share for the quarter, missing the consensus estimate of $0.32 by ($0.14). The company had revenue of $39.66 million for the quarter, compared to the consensus estimate of $40.79 million. Caretrust REIT had a return on equity of 8.08% and a net margin of 37.46%. The business’s revenue was up 4.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.32 earnings per share. Equities research analysts forecast that Caretrust REIT Inc will post 1.4 earnings per share for the current fiscal year.

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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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Institutional Ownership by Quarter for Caretrust REIT (NASDAQ:CTRE)

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