American Century Companies Inc. Decreases Holdings in 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. decreased its position in shares of CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) by 1.9% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund 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 0.46% of CareTrust REIT worth $24,965,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Quarry LP lifted its position in CareTrust REIT by 463.5% during the fourth quarter. Quarry LP now owns 1,854 shares of the real estate investment trust's stock valued at $50,000 after acquiring an additional 1,525 shares during the last quarter. Glen Eagle Advisors LLC acquired a new position in CareTrust REIT during the 4th quarter valued at approximately $56,000. Fifth Third Bancorp increased its stake in 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 purchasing an additional 1,355 shares in the last quarter. GF Fund Management CO. LTD. acquired a new position in CareTrust REIT during the 4th quarter valued at approximately $76,000. Finally, Pandora Wealth Inc. acquired a new position in CareTrust REIT during the 1st quarter valued at approximately $120,000. Hedge funds and other institutional investors own 87.77% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on CTRE. Royal Bank Of Canada restated an "outperform" rating on shares of CareTrust REIT in a research note on Monday, August 11th. KeyCorp upped their price target on shares of CareTrust REIT from $33.00 to $36.00 and gave the company an "overweight" rating in a research note on Thursday, August 14th. Finally, Wells Fargo & Company upped their price target on shares of CareTrust REIT from $32.00 to $38.00 and gave the company an "overweight" rating in a research note on Wednesday. Four 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's stock. According to data from MarketBeat.com, CareTrust REIT has a consensus rating of "Moderate Buy" and an average target price of $32.50.

CareTrust REIT Stock Performance

NASDAQ CTRE traded down $0.46 during mid-day trading on Thursday, reaching $34.14. 203,600 shares of the stock were exchanged, compared to its average volume of 1,948,055. The business's 50 day moving average is $31.81 and its 200-day moving average is $29.29. CareTrust REIT, Inc. has a 1 year low of $24.79 and a 1 year high of $34.92. The company has a market capitalization of $7.45 billion, a P/E ratio of 43.25, a P/E/G ratio of 1.25 and a beta of 0.85. The company has a debt-to-equity ratio of 0.14, a quick ratio of 3.82 and a current ratio of 3.82.

CareTrust REIT Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 30th were issued a dividend of $0.335 per share. The ex-dividend date of this dividend was Monday, June 30th. This represents a $1.34 dividend on an annualized basis and a yield of 3.9%. CareTrust REIT's dividend payout ratio is 111.67%.

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.