Nicola Wealth Management LTD. Decreases Holdings in CareTrust REIT, Inc. (NASDAQ:CTRE)

Nicola Wealth Management LTD. trimmed its position in shares of CareTrust REIT, Inc. (NASDAQ:CTRE) by 48.0% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 26,205 shares of the real estate investment trust’s stock after selling 24,200 shares during the period. Nicola Wealth Management LTD.’s holdings in CareTrust REIT were worth $658,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of CTRE. Vanguard Group Inc. increased its stake in CareTrust REIT by 13.3% in the 1st quarter. Vanguard Group Inc. now owns 20,267,738 shares of the real estate investment trust’s stock worth $493,925,000 after purchasing an additional 2,376,832 shares during the period. Zimmer Partners LP purchased a new position in CareTrust REIT in the 1st quarter worth approximately $41,763,000. GRS Advisors LLC purchased a new position in CareTrust REIT in the 4th quarter worth approximately $31,656,000. Norges Bank purchased a new position in CareTrust REIT in the 4th quarter worth approximately $18,640,000. Finally, Hazelview Securities Inc. purchased a new position in CareTrust REIT in the 1st quarter worth approximately $20,047,000. 87.77% of the stock is owned by hedge funds and other institutional investors.

CareTrust REIT Stock Up 0.7 %

Shares of NASDAQ CTRE traded up $0.21 during mid-day trading on Friday, hitting $29.88. 1,588,849 shares of the stock traded hands, compared to its average volume of 1,374,076. The company has a debt-to-equity ratio of 0.36, a quick ratio of 12.80 and a current ratio of 12.80. CareTrust REIT, Inc. has a 52 week low of $19.67 and a 52 week high of $30.02. The company has a market cap of $4.24 billion, a price-to-earnings ratio of 57.46 and a beta of 1.09. The stock has a fifty day moving average price of $27.03 and a 200-day moving average price of $25.24.

CareTrust REIT (NASDAQ:CTRE) last released 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). CareTrust REIT had a net margin of 30.09% and a return on equity of 5.31%. The firm had revenue of $68.89 million for the quarter, compared to the consensus estimate of $66.36 million. During the same quarter in the prior year, the firm earned $0.35 earnings per share. Research analysts anticipate that CareTrust REIT, Inc. will post 1.47 EPS for the current year.

CareTrust REIT Announces Dividend

The company also recently declared 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. The ex-dividend date was Friday, June 28th. This represents a $1.16 annualized dividend and a dividend yield of 3.88%. CareTrust REIT’s dividend payout ratio is presently 223.08%.

Analyst Ratings Changes

A number of equities analysts have commented on the company. Deutsche Bank Aktiengesellschaft lifted their price target on CareTrust REIT from $23.00 to $27.00 and gave the stock a “hold” rating in a research note on Monday, July 1st. Wells Fargo & Company boosted their target price 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. Royal Bank of Canada boosted their target price on CareTrust REIT from $27.00 to $31.00 and gave the company an “outperform” rating in a research note on Thursday, August 22nd. KeyCorp boosted their target price on CareTrust REIT from $25.00 to $27.00 and gave the company an “overweight” rating in a research note on Thursday, May 9th. Finally, Wedbush started coverage on CareTrust REIT in a research note on Wednesday, May 29th. They set a “neutral” rating and a $26.00 target price on the stock. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $26.67.

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.