Arizona State Retirement System grew its holdings in Caretrust REIT Inc (NASDAQ:CTRE) by 6.0% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 117,474 shares of the real estate investment trust’s stock after buying an additional 6,610 shares during the quarter. Arizona State Retirement System owned approximately 0.15% of Caretrust REIT worth $2,080,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CTRE. Principal Financial Group Inc. raised its stake in shares of Caretrust REIT by 3.1% during the 1st quarter. Principal Financial Group Inc. now owns 683,847 shares of the real estate investment trust’s stock valued at $9,163,000 after purchasing an additional 20,416 shares during the period. Brown Advisory Inc. purchased a new position in shares of Caretrust REIT in the 1st quarter worth about $135,000. Westpac Banking Corp boosted its holdings in shares of Caretrust REIT by 38.1% in the 2nd quarter. Westpac Banking Corp now owns 393,972 shares of the real estate investment trust’s stock worth $6,575,000 after purchasing an additional 108,780 shares in the last quarter. Boston Advisors LLC boosted its holdings in shares of Caretrust REIT by 20.9% in the 2nd quarter. Boston Advisors LLC now owns 57,750 shares of the real estate investment trust’s stock worth $964,000 after purchasing an additional 9,995 shares in the last quarter. Finally, Meeder Asset Management Inc. boosted its holdings in shares of Caretrust REIT by 1,209.3% in the 2nd quarter. Meeder Asset Management Inc. now owns 10,592 shares of the real estate investment trust’s stock worth $177,000 after purchasing an additional 9,783 shares in the last quarter. Institutional investors and hedge funds own 90.85% of the company’s stock.
Several research firms have weighed in on CTRE. Zacks Investment Research cut Caretrust REIT from a “hold” rating to a “sell” rating in a report on Monday, October 29th. Wells Fargo & Co increased their target price on Caretrust REIT from $18.50 to $22.00 and gave the stock an “outperform” rating in a research report on Tuesday. Stifel Nicolaus raised Caretrust REIT from a “hold” rating to a “buy” rating and increased their target price for the stock from $17.00 to $21.00 in a research report on Wednesday, November 28th. BidaskClub raised Caretrust REIT from a “buy” rating to a “strong-buy” rating in a research report on Thursday, November 8th. Finally, Cantor Fitzgerald reaffirmed a “buy” rating and set a $20.00 price objective on shares of Caretrust REIT in a research report on Monday, November 5th. Four investment analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. Caretrust REIT currently has an average rating of “Buy” and a consensus target price of $19.25.
Shares of CTRE stock traded up $0.39 on Thursday, reaching $20.20. The stock had a trading volume of 989,300 shares, compared to its average volume of 685,140. The company has a market cap of $1.66 billion, a P/E ratio of 17.41, a price-to-earnings-growth ratio of 3.10 and a beta of 0.76. Caretrust REIT Inc has a 1 year low of $12.73 and a 1 year high of $20.65. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.52 and a quick ratio of 1.52.
Caretrust REIT (NASDAQ:CTRE) last released its earnings results on Monday, November 5th. The real estate investment trust reported $0.18 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.32 by ($0.14). The company had revenue of $39.50 million for the quarter, compared to analysts’ expectations of $39.37 million. Caretrust REIT had a net margin of 29.14% and a return on equity of 7.01%. Caretrust REIT’s revenue for the quarter was up 20.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.28 earnings per share. As a group, analysts expect that Caretrust REIT Inc will post 1.28 earnings per share for the current year.
Caretrust REIT Profile
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 189 net-leased healthcare properties and three operated seniors housing properties in 25 states, CareTrust REIT 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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