Ergoteles LLC purchased a new position in CareTrust REIT, Inc. (NASDAQ:CTRE - Get Rating) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 23,657 shares of the real estate investment trust's stock, valued at approximately $428,000.
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A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. lifted its position in shares of CareTrust REIT by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 15,671,455 shares of the real estate investment trust's stock worth $302,460,000 after purchasing an additional 162,349 shares during the period. State Street Corp lifted its position in shares of CareTrust REIT by 0.7% in the 2nd quarter. State Street Corp now owns 6,002,028 shares of the real estate investment trust's stock worth $112,273,000 after purchasing an additional 42,147 shares during the period. Invesco Ltd. lifted its position in shares of CareTrust REIT by 11.8% in the 1st quarter. Invesco Ltd. now owns 1,446,190 shares of the real estate investment trust's stock worth $27,911,000 after purchasing an additional 152,896 shares during the period. Legal & General Group Plc lifted its position in shares of CareTrust REIT by 3.2% during the 2nd quarter. Legal & General Group Plc now owns 817,213 shares of the real estate investment trust's stock valued at $15,070,000 after acquiring an additional 25,461 shares during the period. Finally, Employees Retirement System of Texas lifted its position in shares of CareTrust REIT by 19.4% during the 1st quarter. Employees Retirement System of Texas now owns 792,809 shares of the real estate investment trust's stock valued at $15,301,000 after acquiring an additional 128,859 shares during the period. Institutional investors and hedge funds own 85.01% of the company's stock.
Separately, KeyCorp boosted their target price on shares of CareTrust REIT from $21.00 to $22.00 and gave the company an "overweight" rating in a research report on Tuesday, February 14th. Four investment analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, CareTrust REIT presently has a consensus rating of "Moderate Buy" and a consensus price target of $20.90.
CareTrust REIT stock opened at $19.76 on Friday. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 0.85. CareTrust REIT, Inc. has a 12-month low of $15.90 and a 12-month high of $22.46. The firm's fifty day moving average is $19.66 and its 200 day moving average is $19.49. The company has a market capitalization of $1.97 billion, a PE ratio of -247.00 and a beta of 1.13.
The firm also recently declared a quarterly dividend, which was paid on Friday, January 13th. Shareholders of record on Friday, December 30th were paid a dividend of $0.275 per share. The ex-dividend date of this dividend was Thursday, December 29th. This represents a $1.10 dividend on an annualized basis and a yield of 5.57%. CareTrust REIT's dividend payout ratio (DPR) is presently -1,375.00%.
CareTrust REIT, Inc operates as real estate investment company, which engages in the ownership, acquisition, and leasing of healthcare-related properties. It offers independent living, memory care, and assisted, and skilled nursing facilities. The company was founded on October 29, 2013 and is headquartered in San Clemente, CA.
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