Nicola Wealth Management LTD. Has $658,000 Stock Position in CareTrust REIT, Inc. (NASDAQ:CTRE)

Nicola Wealth Management LTD. reduced its position in CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) by 48.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). 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 have also made changes to their positions in CTRE. Nomura Asset Management Co. Ltd. grew its position in CareTrust REIT by 41.4% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 155,100 shares of the real estate investment trust's stock worth $3,471,000 after purchasing an additional 45,400 shares in the last quarter. Hazelview Securities Inc. acquired a new position in CareTrust REIT during the first quarter valued at $20,047,000. Teachers Retirement System of The State of Kentucky lifted its stake in CareTrust REIT by 32.3% in the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 125,276 shares of the real estate investment trust's stock worth $3,052,000 after acquiring an additional 30,619 shares in the last quarter. Vanguard Group Inc. lifted 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 acquiring an additional 2,376,832 shares in the last quarter. Finally, Centersquare Investment Management LLC boosted its position in CareTrust REIT by 1.6% during the 1st quarter. Centersquare Investment Management LLC now owns 2,869,111 shares of the real estate investment trust's stock worth $70,924,000 after acquiring an additional 45,733 shares during the period. Institutional investors and hedge funds own 87.77% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on CTRE shares. Deutsche Bank Aktiengesellschaft increased 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. KeyCorp increased their target price 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 assumed coverage on shares of CareTrust REIT in a report on Wednesday, May 29th. They set a "neutral" rating and a $26.00 price target on the stock. Wells Fargo & Company increased 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. Finally, 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. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $26.67.

CareTrust REIT Stock Performance

CTRE traded up $0.21 during trading on Friday, hitting $29.88. The stock had a trading volume of 1,588,849 shares, compared to its average volume of 1,374,076. The company has a current ratio of 12.80, a quick ratio of 12.80 and a debt-to-equity ratio of 0.36. CareTrust REIT, Inc. has a 12 month low of $19.67 and a 12 month high of $30.02. The company has a 50 day simple moving average of $27.03 and a 200-day simple moving average of $25.24. The firm has a market cap of $4.24 billion, a PE ratio of 57.46 and a beta of 1.09.

CareTrust REIT (NASDAQ:CTRE - Get Free Report) last issued its earnings results on Thursday, August 1st. The real estate investment trust reported $0.07 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.29). The firm had revenue of $68.89 million during the quarter, compared to the consensus estimate 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 earnings per share. Analysts expect that CareTrust REIT, Inc. will post 1.47 EPS for the current year.

CareTrust REIT Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Friday, June 28th were issued a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 3.88%. The ex-dividend date was Friday, June 28th. CareTrust REIT's payout ratio is 223.08%.

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.