Caisse Des Depots ET Consignations Cuts Position in CareTrust REIT, Inc. (NASDAQ:CTRE)

Key Points

• Caisse Des Depots ET Consignations reduced its stake in CareTrust REIT, Inc. by 55.4% during the first quarter, now holding shares valued at approximately $1.15 million.
• Wells Fargo & Company raised its price target for CareTrust REIT from $31.00 to $32.00, maintaining an "overweight" rating on the stock.
• CareTrust REIT recently declared a quarterly dividend of $0.335, resulting in an annualized yield of 4.1% and a dividend payout ratio of 145.65%.

Caisse Des Depots ET Consignations decreased its position in shares of CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) by 55.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 40,057 shares of the real estate investment trust's stock after selling 49,824 shares during the quarter. Caisse Des Depots ET Consignations' holdings in CareTrust REIT were worth $1,145,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CTRE. FMR LLC lifted its holdings in 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 worth $214,586,000 after buying an additional 2,708,050 shares during the period. Raymond James Financial Inc. acquired a new position in shares of CareTrust REIT in the 4th quarter valued at about $49,048,000. Balyasny Asset Management L.P. lifted its stake in shares of CareTrust REIT by 149.6% in 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 purchasing an additional 1,623,297 shares during the period. Vanguard Group Inc. lifted its stake in shares of CareTrust REIT by 4.9% in the 1st quarter. Vanguard Group Inc. now owns 28,636,981 shares of the real estate investment trust's stock valued at $818,445,000 after purchasing an additional 1,336,348 shares during the period. Finally, Jupiter Asset Management Ltd. lifted its stake in shares of CareTrust REIT by 5,756.5% in the 1st 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 purchasing an additional 1,161,258 shares during the period. 87.77% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Wells Fargo & Company boosted their price objective on CareTrust REIT from $31.00 to $32.00 and gave the company 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. Based on data from MarketBeat.com, CareTrust REIT presently has a consensus rating of "Moderate Buy" and an average price target of $31.17.

CareTrust REIT Stock Up 1.1%

CareTrust REIT stock traded up $0.36 during midday trading on Friday, reaching $32.91. The stock had a trading volume of 2,774,266 shares, compared to its average volume of 1,756,490. CareTrust REIT, Inc. has a 12 month low of $24.79 and a 12 month high of $33.52. The company has a market capitalization of $6.59 billion, a P/E ratio of 41.66, a PEG ratio of 1.25 and a beta of 0.85. The company has a fifty day moving average price of $30.54 and a two-hundred day moving average price of $28.66. 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 Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th were issued a dividend of $0.335 per share. This represents a $1.34 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date of this dividend was Monday, June 30th. CareTrust REIT's payout ratio is currently 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.