Ballentine Partners LLC Invests $329,000 in CareTrust REIT, Inc. (NASDAQ:CTRE)

Ballentine Partners LLC purchased a new position in shares of CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 11,519 shares of the real estate investment trust's stock, valued at approximately $329,000.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of CareTrust REIT by 18.5% during the 4th quarter. Vanguard Group Inc. now owns 27,300,633 shares of the real estate investment trust's stock valued at $738,482,000 after purchasing an additional 4,263,097 shares during the last quarter. FMR LLC lifted its position in shares of CareTrust REIT by 51.8% during the 4th quarter. FMR LLC now owns 7,932,946 shares of the real estate investment trust's stock valued at $214,586,000 after acquiring an additional 2,708,050 shares during the period. Geode Capital Management LLC lifted its position in shares of CareTrust REIT by 23.8% during the 4th quarter. Geode Capital Management LLC now owns 4,620,274 shares of the real estate investment trust's stock valued at $125,006,000 after acquiring an additional 887,665 shares during the period. Balyasny Asset Management L.P. lifted its position in shares of CareTrust REIT by 149.6% during the 4th quarter. Balyasny Asset Management L.P. now owns 2,708,664 shares of the real estate investment trust's stock valued at $73,269,000 after acquiring an additional 1,623,297 shares during the period. Finally, Northern Trust Corp increased its stake in CareTrust REIT by 45.1% during the 4th quarter. Northern Trust Corp now owns 2,469,640 shares of the real estate investment trust's stock valued at $66,804,000 after purchasing an additional 767,640 shares in the last quarter. 87.77% of the stock is owned by institutional investors.

CareTrust REIT Price Performance

Shares of CareTrust REIT stock traded up $0.01 on Friday, reaching $30.30. The stock had a trading volume of 981,037 shares, compared to its average volume of 1,856,094. CareTrust REIT, Inc. has a 1 year low of $24.79 and a 1 year high of $33.15. The company has a market cap of $5.81 billion, a P/E ratio of 38.35, a price-to-earnings-growth ratio of 1.25 and a beta of 0.84. 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 business's 50 day moving average is $29.64 and its two-hundred day moving average is $28.13.

CareTrust REIT Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th were given a dividend of $0.335 per share. This represents a $1.34 dividend on an annualized basis and a yield of 4.42%. The ex-dividend date was Monday, June 30th. CareTrust REIT's payout ratio is currently 145.65%.

Analyst Ratings Changes

Separately, Wells Fargo & Company upped their target price on shares of CareTrust REIT from $31.00 to $32.00 and gave the stock an "overweight" rating in a research note on Monday, June 2nd. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $31.17.

CareTrust REIT Company 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.