CareTrust REIT, Inc. $CTRE Stake Lowered by Hsbc Holdings PLC

by · The Markets Daily

Hsbc Holdings PLC trimmed its stake in shares of CareTrust REIT, Inc. (NYSE:CTRE – Free Report) by 5.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 609,127 shares of the company’s stock after selling 35,041 shares during the quarter. Hsbc Holdings PLC’s holdings in CareTrust REIT were worth $21,999,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in the stock. Kemnay Advisory Services Inc. bought a new position in CareTrust REIT during the 4th quarter worth $27,000. Transamerica Financial Advisors LLC increased its position in CareTrust REIT by 520.0% in the fourth quarter. Transamerica Financial Advisors LLC now owns 868 shares of the company’s stock worth $32,000 after buying an additional 728 shares during the period. EverSource Wealth Advisors LLC lifted its stake in CareTrust REIT by 134.2% in the second quarter. EverSource Wealth Advisors LLC now owns 1,124 shares of the company’s stock valued at $34,000 after buying an additional 644 shares during the last quarter. Heritage Wealth Advisors lifted its stake in CareTrust REIT by 42.9% in the third quarter. Heritage Wealth Advisors now owns 1,000 shares of the company’s stock valued at $35,000 after buying an additional 300 shares during the last quarter. Finally, Allworth Financial LP boosted its holdings in shares of CareTrust REIT by 114.0% during the third quarter. Allworth Financial LP now owns 1,042 shares of the company’s stock valued at $36,000 after acquiring an additional 555 shares during the period. Institutional investors own 87.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on CTRE shares. Raymond James Financial initiated coverage on shares of CareTrust REIT in a research report on Tuesday, June 16th. They set an “outperform” rating and a $43.00 price target for the company. BMO Capital Markets lifted their price objective on shares of CareTrust REIT from $46.00 to $47.00 and gave the company an “outperform” rating in a research report on Monday, June 15th. Weiss Ratings lowered shares of CareTrust REIT from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Thursday, June 11th. Zacks Research upgraded shares of CareTrust REIT from a “strong sell” rating to a “hold” rating in a research report on Monday, May 25th. Finally, KeyCorp restated an “overweight” rating and issued a $46.00 target price on shares of CareTrust REIT in a research report on Friday, May 29th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, CareTrust REIT presently has a consensus rating of “Moderate Buy” and a consensus target price of $44.82.

Read Our Latest Stock Analysis on CareTrust REIT

CareTrust REIT Stock Up 1.4%

Shares of CareTrust REIT stock opened at $39.33 on Thursday. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.38 and a quick ratio of 2.37. CareTrust REIT, Inc. has a 1-year low of $29.91 and a 1-year high of $43.08. The business’s fifty day moving average price is $39.29 and its two-hundred day moving average price is $38.49. The company has a market capitalization of $9.29 billion, a P/E ratio of 25.21, a PEG ratio of 1.75 and a beta of 0.76.

CareTrust REIT Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be issued a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date of this dividend is Tuesday, June 30th. CareTrust REIT’s dividend payout ratio (DPR) is 100.00%.

About CareTrust REIT

(Free Report)

CareTrust REIT, Inc is a real estate investment trust based in Deerfield Beach, Florida, specializing in the ownership, acquisition and management of net-leased healthcare properties. The company primarily focuses on seniors housing and post-acute care facilities, entering into long-term, triple-net lease agreements with leading operators in the skilled nursing, assisted living, memory care, inpatient rehabilitation and specialty hospital sectors. Through its portfolio, CareTrust REIT aims to provide investors with stable and predictable rental income while supporting the ongoing demand for quality healthcare real estate across the United States.

Since its initial public offering in September 2013, CareTrust REIT has pursued a disciplined acquisition strategy, targeting properties in primary and select secondary markets.

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