8,932 Shares in CareTrust REIT, Inc. (NASDAQ:CTRE) Acquired by Penserra Capital Management LLC

Penserra Capital Management LLC bought a new position in shares of CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 8,932 shares of the real estate investment trust's stock, valued at approximately $255,000.

A number of other hedge funds also recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC boosted its position in shares of CareTrust REIT by 21.8% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 86,776 shares of the real estate investment trust's stock worth $2,471,000 after purchasing an additional 15,523 shares in the last quarter. Corient Private Wealth LLC boosted its position in shares of CareTrust REIT by 9.2% in the 4th quarter. Corient Private Wealth LLC now owns 22,481 shares of the real estate investment trust's stock worth $608,000 after purchasing an additional 1,903 shares in the last quarter. KBC Group NV boosted its position in shares of CareTrust REIT by 33.6% in the 1st quarter. KBC Group NV now owns 7,448 shares of the real estate investment trust's stock worth $213,000 after purchasing an additional 1,875 shares in the last quarter. Principal Financial Group Inc. boosted its position in shares of CareTrust REIT by 3.0% in the 1st quarter. Principal Financial Group Inc. now owns 1,066,093 shares of the real estate investment trust's stock worth $30,469,000 after purchasing an additional 31,279 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. boosted its position in shares of CareTrust REIT by 8.1% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 48,495 shares of the real estate investment trust's stock worth $1,386,000 after purchasing an additional 3,626 shares in the last quarter. Hedge funds and other institutional investors own 87.77% of the company's stock.

Analyst Upgrades and Downgrades

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

CareTrust REIT Stock Performance

Shares of CTRE stock opened at $30.73 on Friday. The firm has a market capitalization of $5.89 billion, a price-to-earnings ratio of 38.90, a price-to-earnings-growth ratio of 1.25 and a beta of 0.84. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.82 and a quick ratio of 3.82. The business has a fifty day moving average of $29.49 and a 200 day moving average of $28.01. CareTrust REIT, Inc. has a 1 year low of $24.79 and a 1 year high of $33.15.

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 paid a dividend of $0.335 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $1.34 dividend on an annualized basis and a dividend yield of 4.36%. CareTrust REIT's payout ratio is currently 145.65%.

CareTrust REIT 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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