Amundi Has $5.35 Million Stock Holdings in CareTrust REIT, Inc. $CTRE

Key Points

• Amundi has reduced its stake in CareTrust REIT, Inc. by 5.3%, selling 10,383 shares and retaining 185,415 shares, valued at approximately $5.3 million.
• CareTrust REIT recently announced a quarterly dividend of $0.335 per share, resulting in an annualized yield of 4.0%, although its dividend payout ratio is high at 111.67%.
• Analysts have generally rated CareTrust REIT positively, with several firms setting target prices between $36.00 and $39.00, based on a median rating of "Moderate Buy."

Amundi trimmed its stake in shares of CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) by 5.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 185,415 shares of the real estate investment trust's stock after selling 10,383 shares during the quarter. Amundi owned about 0.10% of CareTrust REIT worth $5,349,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Nuveen LLC bought a new stake in shares of CareTrust REIT during the 1st quarter worth $49,049,000. Vanguard Group Inc. raised its holdings in CareTrust REIT by 4.9% during the first quarter. Vanguard Group Inc. now owns 28,636,981 shares of the real estate investment trust's stock valued at $818,445,000 after buying an additional 1,336,348 shares in the last quarter. Jupiter Asset Management Ltd. raised its holdings in CareTrust REIT by 5,756.5% during the first quarter. Jupiter Asset Management Ltd. now owns 1,181,431 shares of the real estate investment trust's stock valued at $33,765,000 after buying an additional 1,161,258 shares in the last quarter. Nuveen Asset Management LLC grew its position in shares of CareTrust REIT by 75.8% in the fourth quarter. Nuveen Asset Management LLC now owns 2,395,809 shares of the real estate investment trust's stock valued at $64,807,000 after purchasing an additional 1,032,848 shares during the last quarter. Finally, Two Sigma Advisers LP grew its position in shares of CareTrust REIT by 70.9% in the fourth quarter. Two Sigma Advisers LP now owns 2,388,900 shares of the real estate investment trust's stock valued at $64,620,000 after purchasing an additional 991,400 shares during the last quarter. 87.77% of the stock is owned by institutional investors.

CareTrust REIT Price Performance

NASDAQ:CTRE traded down $0.16 on Tuesday, hitting $34.09. The company had a trading volume of 2,089,023 shares, compared to its average volume of 1,948,111. The firm has a 50 day moving average of $32.80 and a two-hundred day moving average of $30.12. The stock has a market capitalization of $7.44 billion, a price-to-earnings ratio of 43.15, a PEG ratio of 1.25 and a beta of 0.84. CareTrust REIT, Inc. has a 52 week low of $24.79 and a 52 week high of $34.92. The company has a current ratio of 3.82, a quick ratio of 3.82 and a debt-to-equity ratio of 0.14.

CareTrust REIT Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be paid a dividend of $0.335 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $1.34 annualized dividend and a dividend yield of 3.9%. CareTrust REIT's dividend payout ratio (DPR) is presently 111.67%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Wells Fargo & Company raised their price target on shares of CareTrust REIT from $32.00 to $38.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 27th. Raymond James Financial set a $39.00 target price on shares of CareTrust REIT and gave the stock a "strong-buy" rating in a report on Tuesday, September 2nd. Royal Bank Of Canada reissued an "outperform" rating on shares of CareTrust REIT in a report on Monday, August 11th. Finally, KeyCorp boosted their price objective on shares of CareTrust REIT from $33.00 to $36.00 and gave the company an "overweight" rating in a research report on Thursday, August 14th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $33.43.

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.