Amundi Sells 10,383 Shares of 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 lowered its position in CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) by 5.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 185,415 shares of the real estate investment trust's stock after selling 10,383 shares during the quarter. Amundi owned approximately 0.10% of CareTrust REIT worth $5,349,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Alyeska Investment Group L.P. grew its stake in CareTrust REIT by 51.3% in the first quarter. Alyeska Investment Group L.P. now owns 2,094,848 shares of the real estate investment trust's stock worth $59,871,000 after purchasing an additional 710,006 shares in the last quarter. Royal Bank of Canada grew its stake in CareTrust REIT by 36.4% in the first quarter. Royal Bank of Canada now owns 179,501 shares of the real estate investment trust's stock worth $5,129,000 after purchasing an additional 47,936 shares in the last quarter. Twin Tree Management LP bought a new position in CareTrust REIT in the first quarter worth approximately $58,000. Evergreen Capital Management LLC grew its stake in CareTrust REIT by 27.5% in the first quarter. Evergreen Capital Management LLC now owns 14,168 shares of the real estate investment trust's stock worth $410,000 after purchasing an additional 3,058 shares in the last quarter. Finally, Truvestments Capital LLC grew its stake in CareTrust REIT by 41.5% in the first quarter. Truvestments Capital LLC now owns 170,763 shares of the real estate investment trust's stock worth $4,880,000 after purchasing an additional 50,098 shares in the last quarter. Institutional investors own 87.77% of the company's stock.

CareTrust REIT Stock Performance

Shares of CTRE opened at $33.82 on Thursday. CareTrust REIT, Inc. has a 12 month low of $24.79 and a 12 month high of $34.92. The stock has a fifty day moving average price of $32.55 and a 200-day moving average price of $29.86. The company has a current ratio of 3.82, a quick ratio of 3.82 and a debt-to-equity ratio of 0.14. The firm has a market cap of $7.38 billion, a PE ratio of 42.81, a P/E/G ratio of 1.25 and a beta of 0.84.

CareTrust REIT Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th were issued a dividend of $0.335 per share. This represents a $1.34 annualized dividend and a dividend yield of 4.0%. The ex-dividend date was Monday, June 30th. CareTrust REIT's dividend payout ratio is currently 111.67%.

Wall Street Analyst Weigh In

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

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