Louisiana State Employees Retirement System Purchases 6,900 Shares of CareTrust REIT, Inc. (NASDAQ:CTRE)

Louisiana State Employees Retirement System increased its position in shares of CareTrust REIT, Inc. (NASDAQ:CTRE) by 10.7% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 71,500 shares of the real estate investment trust’s stock after buying an additional 6,900 shares during the quarter. Louisiana State Employees Retirement System owned 0.05% of CareTrust REIT worth $1,795,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of CTRE. GAMMA Investing LLC boosted its position in CareTrust REIT by 187.7% during the second quarter. GAMMA Investing LLC now owns 1,752 shares of the real estate investment trust’s stock valued at $44,000 after purchasing an additional 1,143 shares during the last quarter. USA Financial Formulas bought a new position in shares of CareTrust REIT during the fourth quarter worth approximately $67,000. Covestor Ltd increased its stake in shares of CareTrust REIT by 114,366.7% during the first quarter. Covestor Ltd now owns 6,868 shares of the real estate investment trust’s stock worth $167,000 after purchasing an additional 6,862 shares during the period. Virtu Financial LLC bought a new position in shares of CareTrust REIT during the first quarter worth approximately $200,000. Finally, Blair William & Co. IL bought a new position in shares of CareTrust REIT during the first quarter worth approximately $203,000. 87.77% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Wells Fargo & Company upped their price objective on CareTrust REIT from $24.00 to $26.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 30th. KeyCorp upped their price objective on CareTrust REIT from $25.00 to $27.00 and gave the stock an “overweight” rating in a research report on Thursday, May 9th. Wedbush assumed coverage on CareTrust REIT in a research report on Wednesday, May 29th. They set a “neutral” rating and a $26.00 price objective for the company. Deutsche Bank Aktiengesellschaft upped their price objective on CareTrust REIT from $23.00 to $27.00 and gave the stock a “hold” rating in a research report on Monday, July 1st. Finally, Royal Bank of Canada upped their price objective on CareTrust REIT from $27.00 to $31.00 and gave the stock an “outperform” rating in a research report on Thursday. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, CareTrust REIT presently has a consensus rating of “Hold” and a consensus target price of $26.67.

CareTrust REIT Price Performance

Shares of CTRE opened at $29.21 on Friday. CareTrust REIT, Inc. has a 12-month low of $19.66 and a 12-month high of $29.24. The business has a 50-day simple moving average of $26.57 and a two-hundred day simple moving average of $24.95. The company has a quick ratio of 12.80, a current ratio of 12.80 and a debt-to-equity ratio of 0.36. The stock has a market cap of $4.15 billion, a PE ratio of 56.16 and a beta of 1.09.

CareTrust REIT (NASDAQ:CTRE) last issued its quarterly earnings results on Thursday, August 1st. The real estate investment trust reported $0.07 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.29). The company had revenue of $68.89 million during the quarter, compared to analyst estimates of $66.36 million. CareTrust REIT had a net margin of 30.09% and a return on equity of 5.31%. During the same period in the previous year, the company posted $0.35 EPS. Analysts anticipate that CareTrust REIT, Inc. will post 1.47 earnings per share for the current fiscal year.

CareTrust REIT Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Friday, June 28th were paid a dividend of $0.29 per share. The ex-dividend date of this dividend was Friday, June 28th. This represents a $1.16 annualized dividend and a yield of 3.97%. CareTrust REIT’s dividend payout ratio is currently 223.08%.

About CareTrust REIT

CareTrust REIT, Inc is a self-administered, publicly-traded real estate investment trust engaged in the ownership, acquisition, development and leasing of skilled nursing, seniors housing and other healthcare-related properties. With a nationwide portfolio of long-term net-leased properties, and a growing portfolio of quality operators leasing them, CareTrust REIT is pursuing both external and organic growth opportunities across the United States.