15,279 Shares in CareTrust REIT, Inc. (NASDAQ:CTRE) Bought by Balance Wealth LLC

Balance Wealth LLC acquired a new stake in CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) in the first quarter, according to its most recent filing with the SEC. The fund acquired 15,279 shares of the real estate investment trust's stock, valued at approximately $437,000.

A number of other hedge funds have also bought and sold shares of CTRE. Quarry LP grew its stake in CareTrust REIT by 463.5% in the 4th quarter. Quarry LP now owns 1,854 shares of the real estate investment trust's stock valued at $50,000 after buying an additional 1,525 shares in the last quarter. Glen Eagle Advisors LLC purchased a new position in CareTrust REIT in the 4th quarter valued at approximately $56,000. Fifth Third Bancorp grew its stake in CareTrust REIT by 217.5% in the 1st quarter. Fifth Third Bancorp now owns 1,978 shares of the real estate investment trust's stock valued at $57,000 after buying an additional 1,355 shares in the last quarter. Signaturefd LLC grew its stake in CareTrust REIT by 20.3% in the 4th quarter. Signaturefd LLC now owns 2,628 shares of the real estate investment trust's stock valued at $71,000 after buying an additional 443 shares in the last quarter. Finally, GF Fund Management CO. LTD. purchased a new position in CareTrust REIT in the 4th quarter valued at approximately $76,000. 87.77% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms recently weighed in on CTRE. Deutsche Bank Aktiengesellschaft upgraded shares of CareTrust REIT from a "hold" rating to a "buy" rating and set a $31.00 price objective for the company in a research note on Thursday, March 13th. Wells Fargo & Company lifted their price objective on shares of CareTrust REIT from $31.00 to $32.00 and gave the company an "overweight" rating in a research note on Monday, June 2nd. Finally, Wedbush restated an "underperform" rating and set a $26.00 price target on shares of CareTrust REIT in a research report on Friday, March 14th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $31.17.

CareTrust REIT Price Performance

Shares of CTRE traded up $0.06 during mid-day trading on Friday, reaching $30.62. 3,202,466 shares of the stock traded hands, compared to its average volume of 1,822,595. The firm has a fifty day moving average price of $29.03 and a 200 day moving average price of $27.81. The company has a market cap of $5.87 billion, a price-to-earnings ratio of 38.75, a price-to-earnings-growth ratio of 1.25 and a beta of 0.83. The company has a current ratio of 3.82, a quick ratio of 3.82 and a debt-to-equity ratio of 0.14. CareTrust REIT, Inc. has a 1 year low of $24.70 and a 1 year high of $33.15.

CareTrust REIT Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be given a dividend of $0.335 per share. The ex-dividend date is Monday, June 30th. This represents a $1.34 dividend on an annualized basis and a dividend yield of 4.38%. CareTrust REIT's dividend payout ratio (DPR) is currently 145.65%.

About CareTrust REIT

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.