Trust Co. of Toledo NA OH Grows Position in CareTrust REIT, Inc. (NASDAQ:CTRE)

Trust Co. of Toledo NA OH raised its position in shares of CareTrust REIT, Inc. (NASDAQ:CTRE) by 26.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 32,318 shares of the real estate investment trust’s stock after purchasing an additional 6,683 shares during the quarter. Trust Co. of Toledo NA OH’s holdings in CareTrust REIT were worth $811,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Mackenzie Financial Corp boosted its stake in CareTrust REIT by 3.1% in the 4th quarter. Mackenzie Financial Corp now owns 16,317 shares of the real estate investment trust’s stock worth $365,000 after purchasing an additional 484 shares during the period. Foundations Investment Advisors LLC grew its stake in CareTrust REIT by 5.4% during the fourth quarter. Foundations Investment Advisors LLC now owns 12,103 shares of the real estate investment trust’s stock valued at $254,000 after acquiring an additional 624 shares in the last quarter. Global Retirement Partners LLC increased its holdings in CareTrust REIT by 113.9% in the 4th quarter. Global Retirement Partners LLC now owns 1,388 shares of the real estate investment trust’s stock valued at $31,000 after acquiring an additional 739 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in 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 purchasing an additional 895 shares in the last quarter. Finally, New York State Common Retirement Fund boosted its holdings in shares of CareTrust REIT by 2.2% during the 4th quarter. New York State Common Retirement Fund now owns 41,516 shares of the real estate investment trust’s stock valued at $929,000 after purchasing an additional 910 shares during the last quarter. 87.77% of the stock is currently owned by institutional investors.

CareTrust REIT Stock Performance

NASDAQ CTRE traded up $0.46 during trading hours on Tuesday, reaching $27.34. The stock had a trading volume of 2,541,776 shares, compared to its average volume of 1,370,012. CareTrust REIT, Inc. has a 52-week low of $19.43 and a 52-week high of $27.94. The stock has a fifty day moving average of $25.91 and a 200 day moving average of $24.38. The company has a debt-to-equity ratio of 0.36, a quick ratio of 12.80 and a current ratio of 12.80. The stock has a market cap of $3.88 billion, a P/E ratio of 52.58 and a beta of 1.09.

CareTrust REIT (NASDAQ:CTRE) last issued its earnings results on Thursday, August 1st. The real estate investment trust reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.29). The business had revenue of $68.89 million for the quarter, compared to analysts’ expectations of $66.36 million. CareTrust REIT had a return on equity of 5.31% and a net margin of 30.09%. During the same period last year, the business earned $0.35 EPS. Sell-side analysts predict that CareTrust REIT, Inc. will post 1.47 earnings per share for the current year.

CareTrust REIT Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Friday, June 28th were given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 4.24%. The ex-dividend date was Friday, June 28th. CareTrust REIT’s payout ratio is 223.08%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Wedbush started coverage on CareTrust REIT in a research report on Wednesday, May 29th. They issued a “neutral” rating and a $26.00 target price on the stock. Wells Fargo & Company upped their price objective on CareTrust REIT from $24.00 to $26.00 and gave the stock an “equal weight” rating in a report on Thursday, May 30th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of 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 increased their price objective on shares of CareTrust REIT from $25.00 to $27.00 and gave the company an “overweight” rating in a research report on Thursday, May 9th. Four analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $25.29.

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.