Sumitomo Mitsui Trust Holdings Inc. grew its stake in shares of Caretrust REIT Inc (NASDAQ:CTRE) by 17.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 132,988 shares of the real estate investment trust’s stock after acquiring an additional 20,066 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned about 0.14% of Caretrust REIT worth $3,126,000 as of its most recent SEC filing.
Several other large investors also recently modified their holdings of CTRE. Point72 Asset Management L.P. bought a new position in shares of Caretrust REIT during the second quarter valued at $36,000. Nelson Van Denburg & Campbell Wealth Management Group LLC bought a new stake in Caretrust REIT in the 2nd quarter worth about $71,000. Meridian Wealth Management LLC bought a new stake in Caretrust REIT in the 2nd quarter worth about $95,000. Russell Investments Group Ltd. bought a new stake in Caretrust REIT in the 2nd quarter worth about $146,000. Finally, Nvwm LLC bought a new stake in Caretrust REIT in the 2nd quarter worth about $151,000. Hedge funds and other institutional investors own 89.68% of the company’s stock.
CTRE has been the subject of several research analyst reports. BidaskClub downgraded Caretrust REIT from a “hold” rating to a “sell” rating in a report on Saturday. Zacks Investment Research downgraded Caretrust REIT from a “buy” rating to a “hold” rating in a report on Monday. BMO Capital Markets reiterated a “buy” rating and issued a $26.00 price objective on shares of Caretrust REIT in a report on Wednesday, August 7th. Capital One Financial upgraded Caretrust REIT from an “equal weight” rating to an “overweight” rating and set a $25.00 price objective for the company in a report on Wednesday, August 21st. Finally, ValuEngine downgraded Caretrust REIT from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. One analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $25.50.
Caretrust REIT (NASDAQ:CTRE) last released its quarterly earnings results on Thursday, November 7th. The real estate investment trust reported ($0.11) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.34 by ($0.45). The firm had revenue of $33.31 million for the quarter, compared to the consensus estimate of $43.64 million. Caretrust REIT had a net margin of 25.85% and a return on equity of 4.76%. The company’s revenue for the quarter was down 15.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.32 earnings per share. Sell-side analysts anticipate that Caretrust REIT Inc will post 1.37 earnings per share for the current year.
The company also recently declared a — dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were paid a dividend of $0.225 per share. The ex-dividend date of this dividend was Friday, September 27th. This represents a dividend yield of 3.9%. Caretrust REIT’s dividend payout ratio is currently 70.31%.
Caretrust REIT Company 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 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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