SageView Advisory Group LLC Has $342,000 Position in CareTrust REIT, Inc. (NASDAQ:CTRE)

SageView Advisory Group LLC increased its position in shares of CareTrust REIT, Inc. (NASDAQ:CTRE) by 25.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 16,064 shares of the real estate investment trust’s stock after buying an additional 3,259 shares during the quarter. SageView Advisory Group LLC’s holdings in CareTrust REIT were worth $342,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Wellington Management Group LLP lifted its position in shares of CareTrust REIT by 8.1% in the 3rd quarter. Wellington Management Group LLP now owns 7,211,404 shares of the real estate investment trust’s stock worth $147,834,000 after acquiring an additional 542,832 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in CareTrust REIT by 13.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,712,498 shares of the real estate investment trust’s stock valued at $38,326,000 after buying an additional 209,500 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of CareTrust REIT by 16.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,630,595 shares of the real estate investment trust’s stock valued at $36,494,000 after buying an additional 227,775 shares in the last quarter. GRS Advisors LLC bought a new position in shares of CareTrust REIT during the 4th quarter worth about $31,656,000. Finally, Norges Bank acquired a new stake in shares of CareTrust REIT during the 4th quarter valued at about $18,640,000. 87.77% of the stock is currently owned by institutional investors.

CareTrust REIT Stock Down 0.6 %

NASDAQ CTRE opened at $25.01 on Thursday. The stock’s 50 day simple moving average is $24.86 and its 200 day simple moving average is $23.48. The company has a debt-to-equity ratio of 0.36, a current ratio of 12.80 and a quick ratio of 12.80. CareTrust REIT, Inc. has a one year low of $19.05 and a one year high of $26.43. The firm has a market cap of $3.55 billion, a PE ratio of 48.10 and a beta of 1.06.

CareTrust REIT Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be issued a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 4.64%. The ex-dividend date is Friday, June 28th. CareTrust REIT’s payout ratio is presently 223.08%.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. KeyCorp increased their price target on shares of CareTrust REIT from $25.00 to $27.00 and gave the stock an “overweight” rating in a research report on Thursday, May 9th. Wedbush began coverage on CareTrust REIT in a report on Wednesday, May 29th. They issued a “neutral” rating and a $26.00 target price for the company. Finally, Wells Fargo & Company boosted their price target on CareTrust REIT from $24.00 to $26.00 and gave the company an “equal weight” rating in a research note on Thursday, May 30th. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $24.50.

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.