Ballentine Partners LLC Takes Position in CareTrust REIT, Inc. (NASDAQ:CTRE)

Ballentine Partners LLC bought a new position in shares of CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 11,519 shares of the real estate investment trust's stock, valued at approximately $329,000.

A number of other large investors have also bought and sold shares of CTRE. Quarry LP boosted its position in CareTrust REIT by 463.5% during the 4th quarter. Quarry LP now owns 1,854 shares of the real estate investment trust's stock worth $50,000 after acquiring an additional 1,525 shares during the last quarter. Fifth Third Bancorp boosted its position 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 worth $57,000 after acquiring an additional 1,355 shares during the last quarter. Glen Eagle Advisors LLC bought a new stake in shares of CareTrust REIT during the 4th quarter worth approximately $56,000. Signaturefd LLC raised its stake in shares of CareTrust REIT by 20.3% during the 4th quarter. Signaturefd LLC now owns 2,628 shares of the real estate investment trust's stock worth $71,000 after purchasing an additional 443 shares in the last quarter. Finally, GF Fund Management CO. LTD. bought a new stake in shares of CareTrust REIT during the 4th quarter worth approximately $76,000. 87.77% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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

CareTrust REIT Price Performance

NASDAQ:CTRE traded down $0.31 during trading hours on Wednesday, hitting $30.40. The company's stock had a trading volume of 1,706,504 shares, compared to its average volume of 1,853,630. The stock has a fifty day simple moving average of $29.57 and a 200-day simple moving average of $28.07. The company has a market capitalization of $5.83 billion, a P/E ratio of 38.48, a PEG ratio of 1.25 and a beta of 0.84. 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 twelve month low of $24.79 and a twelve month high of $33.15.

CareTrust REIT Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th were paid a dividend of $0.335 per share. This represents a $1.34 dividend on an annualized basis and a dividend yield of 4.41%. The ex-dividend date of this dividend was Monday, June 30th. CareTrust REIT's payout ratio is 145.65%.

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.