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

Balance Wealth LLC purchased a new stake in CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 15,279 shares of the real estate investment trust's stock, valued at approximately $437,000.

A number of other large investors have also recently modified their holdings of CTRE. Quarry LP raised its stake in CareTrust REIT by 463.5% in the fourth quarter. Quarry LP now owns 1,854 shares of the real estate investment trust's stock valued at $50,000 after purchasing an additional 1,525 shares in the last quarter. Glen Eagle Advisors LLC bought a new position in shares of CareTrust REIT in the 4th quarter worth $56,000. Fifth Third Bancorp raised its position in shares of CareTrust REIT by 217.5% during 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 lifted its holdings in shares of CareTrust REIT by 20.3% during the 4th quarter. Signaturefd LLC now owns 2,628 shares of the real estate investment trust's stock worth $71,000 after acquiring an additional 443 shares during the last quarter. Finally, GF Fund Management CO. LTD. bought a new stake in shares of CareTrust REIT during the 4th quarter worth $76,000. Institutional investors own 87.77% of the company's stock.

Wall Street Analysts Forecast Growth

CTRE has been the topic of a number of research analyst reports. Wedbush reissued an "underperform" rating and issued a $26.00 target price on shares of CareTrust REIT in a research note on Friday, March 14th. Deutsche Bank Aktiengesellschaft upgraded CareTrust REIT from a "hold" rating to a "buy" rating and set a $31.00 price objective on the stock in a research report on Thursday, March 13th. Finally, Wells Fargo & Company boosted their target price on CareTrust REIT from $31.00 to $32.00 and gave the stock an "overweight" rating in a research report on Monday, June 2nd. One analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $31.17.

CareTrust REIT Stock Performance

NASDAQ CTRE opened at $30.69 on Wednesday. The company has a 50-day simple moving average of $28.92 and a two-hundred day simple moving average of $27.77. CareTrust REIT, Inc. has a 12-month low of $24.35 and a 12-month high of $33.15. The firm has a market cap of $5.88 billion, a price-to-earnings ratio of 38.85, a PEG ratio of 1.25 and a beta of 0.83. 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 Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be given a $0.335 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $1.34 annualized dividend and a yield of 4.37%. CareTrust REIT's payout ratio 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.

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