American Century Companies Inc. Sells 16,975 Shares of CareTrust REIT, Inc. $CTRE

Key Points

• American Century Companies Inc. has reduced its stake in CareTrust REIT by 1.9%, now holding approximately 873,505 shares valued at around $24.97 million.
• Several hedge funds, including Quarry LP and Fifth Third Bancorp, have recently increased their stakes in CareTrust REIT, reflecting a growing interest among institutional investors.
• Recent analyst ratings indicate a consensus of "Moderate Buy" for CareTrust REIT, with price targets ranging from $31.00 to $36.00, suggesting potential for future stock appreciation.

American Century Companies Inc. lessened its position in CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) by 1.9% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 873,505 shares of the real estate investment trust's stock after selling 16,975 shares during the period. American Century Companies Inc. owned about 0.46% of CareTrust REIT worth $24,965,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in CTRE. Mariner LLC boosted its stake in shares of CareTrust REIT by 12.9% in the 4th quarter. Mariner LLC now owns 10,924 shares of the real estate investment trust's stock valued at $295,000 after purchasing an additional 1,250 shares in the last quarter. XTX Topco Ltd acquired a new position in CareTrust REIT during the 4th quarter worth about $304,000. Walleye Capital LLC lifted its position in CareTrust REIT by 95.2% during the 4th quarter. Walleye Capital LLC now owns 14,106 shares of the real estate investment trust's stock worth $382,000 after buying an additional 6,880 shares in the last quarter. NewEdge Advisors LLC lifted its position in CareTrust REIT by 6.8% during the 4th quarter. NewEdge Advisors LLC now owns 30,220 shares of the real estate investment trust's stock worth $817,000 after buying an additional 1,936 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in CareTrust REIT by 15.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,443,829 shares of the real estate investment trust's stock worth $66,105,000 after buying an additional 325,217 shares in the last quarter. Institutional investors and hedge funds own 87.77% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on CTRE. Royal Bank Of Canada reiterated an "outperform" rating on shares of CareTrust REIT in a research report on Monday, August 11th. Wells Fargo & Company upped their price target on shares of CareTrust REIT from $32.00 to $38.00 and gave the stock an "overweight" rating in a research report on Wednesday. Finally, KeyCorp upped their price target on shares of CareTrust REIT from $33.00 to $36.00 and gave the stock an "overweight" rating in a research report on Thursday, August 14th. Four research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $32.50.

CareTrust REIT Trading Up 0.8%

Shares of NASDAQ CTRE traded up $0.29 during mid-day trading on Wednesday, hitting $34.66. The company's stock had a trading volume of 535,751 shares, compared to its average volume of 1,954,566. The stock has a market cap of $7.56 billion, a price-to-earnings ratio of 43.89, a price-to-earnings-growth ratio of 1.25 and a beta of 0.85. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.82 and a quick ratio of 3.82. CareTrust REIT, Inc. has a one year low of $24.79 and a one year high of $34.92. The company's fifty day simple moving average is $31.72 and its 200-day simple moving average is $29.25.

CareTrust REIT Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th were paid a $0.335 dividend. This represents a $1.34 annualized dividend and a dividend yield of 3.9%. The ex-dividend date of this dividend was Monday, June 30th. CareTrust REIT's dividend payout ratio (DPR) is 111.67%.

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.