CareTrust REIT, Inc. $CTRE Shares Acquired by Algert Global LLC

Key Points

• Algert Global LLC increased its stake in CareTrust REIT by 122.5% in Q1, owning 217,093 shares valued at approximately $6.2 million by the end of the quarter.
• The company recently announced a quarterly dividend of $0.335 per share, providing an annual yield of 4.0%, although the payout ratio stands at 111.67%.
• Analysts have shown positive sentiment towards CareTrust REIT, with several upgrading their ratings and price targets, resulting in a consensus rating of "Moderate Buy" and an average price target of $31.50.

Algert Global LLC lifted its position in shares of CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) by 122.5% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 217,093 shares of the real estate investment trust's stock after buying an additional 119,520 shares during the quarter. Algert Global LLC owned approximately 0.11% of CareTrust REIT worth $6,205,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in CTRE. Quarry LP increased 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 purchasing an additional 1,525 shares in the last quarter. Glen Eagle Advisors LLC purchased a new stake in CareTrust REIT during the 4th quarter worth about $56,000. Fifth Third Bancorp increased 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 purchasing an additional 1,355 shares in the last quarter. GF Fund Management CO. LTD. purchased a new stake in CareTrust REIT during the 4th quarter worth about $76,000. Finally, Pandora Wealth Inc. purchased a new stake in CareTrust REIT during the 1st quarter worth about $120,000. Institutional investors and hedge funds own 87.77% of the company's stock.

CareTrust REIT Stock Up 0.4%

Shares of NASDAQ:CTRE opened at $33.85 on Monday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 3.82 and a current ratio of 3.82. CareTrust REIT, Inc. has a 1 year low of $24.79 and a 1 year high of $34.00. The stock has a market capitalization of $6.78 billion, a P/E ratio of 42.85, a PEG ratio of 1.25 and a beta of 0.85. The stock has a 50-day simple moving average of $30.97 and a 200-day simple moving average of $28.90.

CareTrust REIT Dividend Announcement

The company also recently announced 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. The ex-dividend date was Monday, June 30th. This represents a $1.34 dividend on an annualized basis and a dividend yield of 4.0%. CareTrust REIT's payout ratio is presently 111.67%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Royal Bank Of Canada reiterated an "outperform" rating on shares of CareTrust REIT in a research report on Monday, August 11th. KeyCorp reiterated an "overweight" rating and set a $36.00 price objective (up previously from $33.00) on shares of CareTrust REIT in a research report on Thursday. Finally, Wells Fargo & Company lifted their price objective on CareTrust REIT from $31.00 to $32.00 and gave the stock an "overweight" rating in a research report on Monday, June 2nd. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $31.50.

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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