Principal Financial Group Inc. Purchases 38,620 Shares of CareTrust REIT, Inc. (NASDAQ:CTRE)

Principal Financial Group Inc. raised its position in shares of CareTrust REIT, Inc. (NASDAQ:CTRE) by 5.1% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 796,683 shares of the real estate investment trust’s stock after purchasing an additional 38,620 shares during the period. Principal Financial Group Inc. owned about 0.56% of CareTrust REIT worth $19,997,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Foundations Investment Advisors LLC raised its position in CareTrust REIT by 5.4% during the 4th quarter. Foundations Investment Advisors LLC now owns 12,103 shares of the real estate investment trust’s stock valued at $254,000 after purchasing an additional 624 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of CareTrust REIT by 4.1% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 22,946 shares of the real estate investment trust’s stock worth $559,000 after acquiring an additional 895 shares in the last quarter. New York State Common Retirement Fund raised its position in shares of CareTrust REIT by 2.2% in the 4th quarter. New York State Common Retirement Fund now owns 41,516 shares of the real estate investment trust’s stock worth $929,000 after acquiring an additional 910 shares in the last quarter. GAMMA Investing LLC raised its position in shares of CareTrust REIT by 187.7% in the 2nd quarter. GAMMA Investing LLC now owns 1,752 shares of the real estate investment trust’s stock worth $44,000 after acquiring an additional 1,143 shares in the last quarter. Finally, Ameritas Investment Partners Inc. raised its position in shares of CareTrust REIT by 15.3% in the 1st quarter. Ameritas Investment Partners Inc. now owns 11,965 shares of the real estate investment trust’s stock worth $292,000 after acquiring an additional 1,589 shares in the last quarter. 87.77% of the stock is owned by institutional investors.

CareTrust REIT Trading Down 1.2 %

Shares of NASDAQ:CTRE opened at $29.51 on Wednesday. The business’s 50-day moving average is $27.22 and its 200 day moving average is $25.37. CareTrust REIT, Inc. has a 1 year low of $19.67 and a 1 year high of $30.02. The firm has a market capitalization of $4.19 billion, a P/E ratio of 56.75 and a beta of 1.09. The company has a debt-to-equity ratio of 0.34, a current ratio of 13.37 and a quick ratio of 13.37.

CareTrust REIT (NASDAQ:CTRE) last posted 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 firm had revenue of $68.89 million for the quarter, compared to analysts’ expectations of $66.36 million. CareTrust REIT had a net margin of 30.09% and a return on equity of 4.84%. During the same quarter in the previous year, the firm posted $0.35 EPS. On average, research analysts predict that CareTrust REIT, Inc. will post 1.48 earnings per share for the current fiscal year.

CareTrust REIT Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, July 15th. Shareholders 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 3.93%. CareTrust REIT’s payout ratio is presently 223.08%.

Analysts Set New Price Targets

Several research firms have recently commented on CTRE. Royal Bank of Canada boosted their price target on CareTrust REIT from $27.00 to $31.00 and gave the stock an “outperform” rating in a research report on Thursday, August 22nd. Wedbush began coverage on CareTrust REIT in a research report on Wednesday, May 29th. They issued a “neutral” rating and a $26.00 price target for the company. Wells Fargo & Company boosted their price target 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. Deutsche Bank Aktiengesellschaft boosted their price target 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, KeyCorp upped their target price on CareTrust REIT from $25.00 to $27.00 and gave the company an “overweight” rating in a research report on Thursday, May 9th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $26.67.

CareTrust REIT Company Profile

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.