Penserra Capital Management LLC Invests $255,000 in CareTrust REIT, Inc. (NASDAQ:CTRE)

Penserra Capital Management LLC bought a new position in shares of CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 8,932 shares of the real estate investment trust's stock, valued at approximately $255,000.

Other institutional investors have also recently made changes to their positions in the company. Quantinno Capital Management LP grew its holdings in CareTrust REIT by 2.3% in the 4th quarter. Quantinno Capital Management LP now owns 17,482 shares of the real estate investment trust's stock worth $473,000 after acquiring an additional 385 shares during the last quarter. Envestnet Portfolio Solutions Inc. lifted its position in shares of CareTrust REIT by 4.5% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 10,022 shares of the real estate investment trust's stock worth $286,000 after purchasing an additional 435 shares during the period. Signaturefd LLC lifted its position in shares of CareTrust REIT by 20.3% in the 4th quarter. Signaturefd LLC now owns 2,628 shares of the real estate investment trust's stock worth $71,000 after purchasing an additional 443 shares during the period. PNC Financial Services Group Inc. lifted its position in CareTrust REIT by 4.9% during the 4th quarter. PNC Financial Services Group Inc. now owns 11,384 shares of the real estate investment trust's stock valued at $308,000 after acquiring an additional 534 shares during the period. Finally, O Shaughnessy Asset Management LLC lifted its position in CareTrust REIT by 5.4% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 11,777 shares of the real estate investment trust's stock valued at $319,000 after acquiring an additional 601 shares during the period. Institutional investors own 87.77% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Wells Fargo & Company lifted their price target on shares of CareTrust REIT from $31.00 to $32.00 and gave the company an "overweight" rating in a research report on Monday, June 2nd. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $31.17.

CareTrust REIT Stock Down 1.7%

CareTrust REIT stock traded down $0.53 during trading hours on Tuesday, hitting $30.74. The stock had a trading volume of 686,155 shares, compared to its average volume of 1,852,174. The company has a quick ratio of 3.82, a current ratio of 3.82 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $5.89 billion, a P/E ratio of 38.91, a price-to-earnings-growth ratio of 1.25 and a beta of 0.84. CareTrust REIT, Inc. has a 12-month low of $24.79 and a 12-month high of $33.15. The stock's 50-day moving average price is $29.49 and its 200-day moving average price is $28.02.

CareTrust REIT Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be issued a $0.335 dividend. The ex-dividend date is Monday, June 30th. This represents a $1.34 annualized dividend and a yield of 4.36%. CareTrust REIT's dividend payout ratio (DPR) is presently 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.