The CareTrust REIT, Inc. (CTRE) Stake Increased by Prudential Financial Inc.

The CareTrust REIT, Inc. (CTRE) Stake Increased by Prudential Financial Inc.

Several other hedge funds also recently modified their holdings of CTRE. LS Investment Advisors LLC increased its stake in shares of CareTrust REIT by 231.5% in the first quarter. LS Investment Advisors LLC now owns 6,924 shares of the real estate investment trust’s stock worth $116,000 after buying an additional 4,835 shares during the period. State of Alaska Department of Revenue increased its stake in shares of CareTrust REIT by 4.6% in the first quarter. State of Alaska Department of Revenue now owns 7,310 shares of the real estate investment trust’s stock worth $122,000 after buying an additional 320 shares during the last quarter. Credit Agricole S A increased its stake in shares of CareTrust REIT by 351.2% in the fourth quarter. Credit Agricole S A now owns 13,531 shares of the real estate investment trust’s stock worth $208,000 after buying an additional 10,532 shares during the last quarter. Mason Street Advisors LLC increased its stake in shares of CareTrust REIT by 10.0% in the first quarter. Mason Street Advisors LLC now owns 15,484 shares of the real estate investment trust’s stock worth $260,000 after buying an additional 1,410 shares during the last quarter. Finally, Karp Capital Management Corp acquired a new stake in shares of CareTrust REIT during the first quarter worth about $282,000. 87.74% of the stock is owned by institutional investors and hedge funds.

Prudential Financial Inc. increased its position in CareTrust REIT, Inc. (NASDAQ:CTRE) by 4.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 112,293 shares of the real estate investment trust’s stock after buying an additional 4,910 shares during the period. Prudential Financial Inc. owned 0.15% of CareTrust REIT worth $1,889,000 as of its most recent filing with the SEC.

CareTrust REIT, Inc. (CTRE) traded down 0.99% on Wednesday, hitting $18.07. The stock had a trading volume of 368,267 shares. CareTrust REIT, Inc. has a 12-month low of $12.70 and a 12-month high of $19.86. The firm has a market cap of $1.31 billion, a price-to-earnings ratio of 32.44 and a beta of 0.88.

The business also recently declared a quarterly dividend, which was paid on Friday, July 14th. Investors of record on Friday, June 30th were issued a $0.185 dividend. This represents a $0.74 annualized dividend and a dividend yield of 4.10%. The ex-dividend date was Wednesday, June 28th.

A number of brokerages recently issued reports on CTRE. BMO Capital Markets downgraded CareTrust REIT from an “outperform” rating to a “market perform” rating and raised their price objective for the stock from $18.00 to $20.00 in a research report on Tuesday, June 20th. BidaskClub downgraded CareTrust REIT from a “strong-buy” rating to a “buy” rating in a research report on Saturday, July 8th. Canaccord Genuity reaffirmed a “buy” rating and issued a $19.00 target price on shares of CareTrust REIT in a research report on Wednesday, May 3rd. TheStreet raised CareTrust REIT from a “c” rating to a “b” rating in a research report on Friday, May 5th. Finally, Zacks Investment Research upgraded CareTrust REIT from a “sell” rating to a “hold” rating in a research note on Thursday, May 4th. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $18.00.

About CareTrust REIT

CareTrust REIT, Inc is a self-administered, self-managed real estate investment trust. The Company is engaged in the ownership, acquisition and leasing of healthcare-related properties. It makes investments in healthcare-related real estate assets. As of December 31, 2016, its real estate portfolio included 154 skilled nursing facilities (SNFs), SNF Campuses, assisted living facilities and independent living facilities.

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