CareTrust REIT, Inc. (NASDAQ:CTRE) Shares Sold by Ameriprise Financial Inc.

Ameriprise Financial Inc. lessened its stake in shares of CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) by 10.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 670,395 shares of the real estate investment trust's stock after selling 74,276 shares during the quarter. Ameriprise Financial Inc. owned about 0.39% of CareTrust REIT worth $18,137,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Algert Global LLC increased its stake in CareTrust REIT by 618.1% in the 4th quarter. Algert Global LLC now owns 97,573 shares of the real estate investment trust's stock valued at $2,639,000 after buying an additional 83,985 shares during the period. Aristeia Capital L.L.C. boosted its holdings in shares of CareTrust REIT by 336.8% in the fourth quarter. Aristeia Capital L.L.C. now owns 35,268 shares of the real estate investment trust's stock valued at $954,000 after acquiring an additional 27,193 shares in the last quarter. Freestone Grove Partners LP acquired a new position in shares of CareTrust REIT during the fourth quarter worth about $1,132,000. Soros Fund Management LLC purchased a new position in CareTrust REIT during the fourth quarter worth about $9,468,000. Finally, Northern Trust Corp raised its holdings in CareTrust REIT by 45.1% during the fourth quarter. Northern Trust Corp now owns 2,469,640 shares of the real estate investment trust's stock worth $66,804,000 after purchasing an additional 767,640 shares in the last quarter. 87.77% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Royal Bank of Canada lowered their price objective on CareTrust REIT from $37.00 to $32.00 and set an "outperform" rating on the stock in a report on Friday, February 21st. Deutsche Bank Aktiengesellschaft upgraded CareTrust REIT from a "hold" rating to a "buy" rating and set a $31.00 price target on the stock in a research note on Thursday, March 13th. Wells Fargo & Company cut their price objective on CareTrust REIT from $34.00 to $31.00 and set an "overweight" rating for the company in a research report on Monday, March 10th. Finally, Wedbush reissued an "underperform" rating and issued a $26.00 target price on shares of CareTrust REIT in a report on Friday, March 14th. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $31.00.

CareTrust REIT Price Performance

NASDAQ CTRE traded up $0.20 during mid-day trading on Monday, hitting $29.38. The stock had a trading volume of 1,703,842 shares, compared to its average volume of 1,808,241. The company has a 50 day simple moving average of $28.42 and a 200 day simple moving average of $27.96. The company has a market cap of $5.63 billion, a price-to-earnings ratio of 37.19, a P/E/G ratio of 1.25 and a beta of 0.88. CareTrust REIT, Inc. has a 52-week low of $24.35 and a 52-week high of $33.15. The company has a quick ratio of 3.82, a current ratio of 3.82 and a debt-to-equity ratio of 0.14.

CareTrust REIT Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were given a $0.335 dividend. The ex-dividend date was Monday, March 31st. This represents a $1.34 dividend on an annualized basis and a dividend yield of 4.56%. This is a boost from CareTrust REIT's previous quarterly dividend of $0.29. CareTrust REIT's dividend payout ratio (DPR) is currently 145.65%.

CareTrust REIT Company Profile

CareTrust REIT, Inc's (CareTrust REIT or the Company) primary business consists of acquiring, financing, developing and owning real property to be leased to third-party tenants in the healthcare sector. As of March 31, 2024, the Company owned directly or through a joint venture and leased to independent operators, 228 skilled nursing facilities (SNFs), multi-service campuses, assisted living facilities (ALFs) and independent living facilities (ILFs) consisting of 24,189 operational beds and units located in 29 states with the highest concentration of properties by rental income located in California and Texas.