Alyeska Investment Group L.P. Purchases 710,006 Shares of CareTrust REIT, Inc. $CTRE

Key Points

• Alyeska Investment Group L.P. increased its stake in CareTrust REIT by 51.3% in the first quarter, owning over 2 million shares valued at approximately $59.87 million.
• Several institutional investors are increasing their holdings in CareTrust REIT, with 87.77% of the company's stock now held by institutional investors and hedge funds.
• CareTrust REIT declared a quarterly dividend of $0.335 per share, reflecting an annualized yield of 4.0% and a payout ratio of 111.67%.

Alyeska Investment Group L.P. grew its stake in shares of CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) by 51.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,094,848 shares of the real estate investment trust's stock after acquiring an additional 710,006 shares during the period. Alyeska Investment Group L.P. owned 1.09% of CareTrust REIT worth $59,871,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in CTRE. Nuveen LLC purchased a new stake in shares of CareTrust REIT in the first quarter worth $49,049,000. Vanguard Group Inc. raised its position in shares of CareTrust REIT by 4.9% in the first quarter. Vanguard Group Inc. now owns 28,636,981 shares of the real estate investment trust's stock worth $818,445,000 after buying an additional 1,336,348 shares in the last quarter. Jupiter Asset Management Ltd. raised its position in shares of CareTrust REIT by 5,756.5% in the first quarter. Jupiter Asset Management Ltd. now owns 1,181,431 shares of the real estate investment trust's stock worth $33,765,000 after buying an additional 1,161,258 shares in the last quarter. Nuveen Asset Management LLC raised its position in shares of CareTrust REIT by 75.8% in the fourth quarter. Nuveen Asset Management LLC now owns 2,395,809 shares of the real estate investment trust's stock worth $64,807,000 after buying an additional 1,032,848 shares in the last quarter. Finally, Two Sigma Advisers LP grew its holdings in shares of CareTrust REIT by 70.9% during the fourth quarter. Two Sigma Advisers LP now owns 2,388,900 shares of the real estate investment trust's stock worth $64,620,000 after purchasing an additional 991,400 shares in the last quarter. Hedge funds and other institutional investors own 87.77% of the company's stock.

CareTrust REIT Trading Up 1.5%

Shares of NASDAQ CTRE traded up $0.52 during trading hours on Monday, hitting $34.46. The company's stock had a trading volume of 1,673,872 shares, compared to its average volume of 1,957,153. The company has a debt-to-equity ratio of 0.14, a quick ratio of 3.82 and a current ratio of 3.82. The stock has a market cap of $7.52 billion, a price-to-earnings ratio of 43.61, a P/E/G ratio of 1.25 and a beta of 0.84. CareTrust REIT, Inc. has a 12 month low of $24.79 and a 12 month high of $34.92. The business has a 50-day simple moving average of $32.34 and a 200-day simple moving average of $29.73.

CareTrust REIT Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 30th were paid a $0.335 dividend. The ex-dividend date of this dividend was Monday, June 30th. This represents a $1.34 annualized dividend and a dividend yield of 3.9%. CareTrust REIT's dividend payout ratio (DPR) is presently 111.67%.

Analyst Ratings Changes

Several research firms recently weighed in on CTRE. Wells Fargo & Company upped their price objective on shares of CareTrust REIT from $32.00 to $38.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 27th. Raymond James Financial set a $39.00 target price on CareTrust REIT and gave the company a "strong-buy" rating in a research note on Tuesday, September 2nd. Royal Bank Of Canada reissued an "outperform" rating on shares of CareTrust REIT in a research note on Monday, August 11th. Finally, KeyCorp increased their target price on CareTrust REIT from $33.00 to $36.00 and gave the company an "overweight" rating in a research note on Thursday, August 14th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, CareTrust REIT presently has a consensus rating of "Moderate Buy" and an average price target of $33.43.

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.