CareTrust REIT, Inc. (NASDAQ:CTRE – Get Rating) announced a quarterly dividend on Friday, September 16th, Wall Street Journal reports. Shareholders of record on Friday, September 30th will be paid a dividend of 0.275 per share by the real estate investment trust on Friday, October 14th. This represents a $1.10 dividend on an annualized basis and a yield of 5.47%. The ex-dividend date is Thursday, September 29th.
CareTrust REIT Stock Performance
Shares of CTRE stock traded up $0.07 on Friday, reaching $20.11. The stock had a trading volume of 1,387,785 shares, compared to its average volume of 722,873. CareTrust REIT has a 12 month low of $15.90 and a 12 month high of $23.59. The firm has a market capitalization of $1.95 billion, a price-to-earnings ratio of 277.14 and a beta of 1.10. The firm's 50-day moving average is $20.84 and its two-hundred day moving average is $18.94. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.95.
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Institutional Inflows and Outflows
Institutional investors and hedge funds have recently made changes to their positions in the business. US Bancorp DE grew its position in shares of CareTrust REIT by 16.2% during the 1st quarter. US Bancorp DE now owns 7,204 shares of the real estate investment trust's stock worth $139,000 after purchasing an additional 1,006 shares in the last quarter. Captrust Financial Advisors acquired a new position in shares of CareTrust REIT during the 2nd quarter worth approximately $205,000. Renaissance Group LLC boosted its position in shares of CareTrust REIT by 8.0% during the 1st quarter. Renaissance Group LLC now owns 12,826 shares of the real estate investment trust's stock worth $248,000 after acquiring an additional 953 shares in the last quarter. Penserra Capital Management LLC boosted its position in shares of CareTrust REIT by 28.9% during the 1st quarter. Penserra Capital Management LLC now owns 14,148 shares of the real estate investment trust's stock worth $273,000 after acquiring an additional 3,168 shares in the last quarter. Finally, Meiji Yasuda Asset Management Co Ltd. acquired a new stake in shares of CareTrust REIT during the 1st quarter worth approximately $327,000. Institutional investors and hedge funds own 83.99% of the company's stock.
Analyst Ratings Changes
CTRE has been the topic of several research analyst reports. KeyCorp dropped their price objective on CareTrust REIT from $23.00 to $21.00 and set an "overweight" rating on the stock in a research note on Thursday, July 7th. Barclays raised their price target on CareTrust REIT from $17.00 to $20.00 in a report on Monday, August 8th. Finally, Capital One Financial assumed coverage on shares of CareTrust REIT in a research report on Friday, June 3rd. They set an "equal weight" rating and a $21.50 price objective for the company. Six equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $21.56.
CareTrust REIT Company Profile
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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.
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