Campbell & CO Investment Adviser LLC Boosts Stake in CareTrust REIT, Inc. $CTRE

Key Points

• Campbell & CO Investment Adviser LLC increased its stake in CareTrust REIT by 612.7%, owning 70,159 shares valued at approximately $2 million by the end of the first quarter.
• Several large investors, including Vanguard Group Inc., have also boosted their positions in CareTrust REIT, contributing to 87.77% of the company's stock being held by institutional investors.
• CareTrust REIT announced a quarterly dividend of $0.335, yielding 3.9%, with a payout ratio of 111.67%.

Campbell & CO Investment Adviser LLC increased its position in shares of CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) by 612.7% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 70,159 shares of the real estate investment trust's stock after purchasing an additional 60,315 shares during the quarter. Campbell & CO Investment Adviser LLC's holdings in CareTrust REIT were worth $2,005,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in CareTrust REIT by 4.9% during 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 purchasing an additional 1,336,348 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of CareTrust REIT by 2.4% in the first quarter. Charles Schwab Investment Management Inc. now owns 2,960,372 shares of the real estate investment trust's stock worth $84,607,000 after acquiring an additional 68,693 shares during the last quarter. Balyasny Asset Management L.P. raised its holdings in shares of CareTrust REIT by 149.6% in the fourth quarter. Balyasny Asset Management L.P. now owns 2,708,664 shares of the real estate investment trust's stock worth $73,269,000 after acquiring an additional 1,623,297 shares during the last quarter. Northern Trust Corp raised its holdings in shares of CareTrust REIT by 5.6% in the first quarter. Northern Trust Corp now owns 2,606,842 shares of the real estate investment trust's stock worth $74,504,000 after acquiring an additional 137,202 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of CareTrust REIT by 15.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,443,829 shares of the real estate investment trust's stock worth $66,105,000 after acquiring an additional 325,217 shares during the last quarter. 87.77% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently weighed in on CTRE. Royal Bank Of Canada reissued an "outperform" rating on shares of CareTrust REIT in a report on Monday, August 11th. KeyCorp boosted their price target on CareTrust REIT from $33.00 to $36.00 and gave the stock an "overweight" rating in a report on Thursday, August 14th. Finally, Wells Fargo & Company boosted their price target on CareTrust REIT from $32.00 to $38.00 and gave the stock an "overweight" rating in a report on Wednesday. Four investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $32.50.

CareTrust REIT Trading Down 0.2%

Shares of NASDAQ:CTRE traded down $0.06 during midday trading on Friday, reaching $34.40. The company's stock had a trading volume of 2,124,496 shares, compared to its average volume of 1,956,533. The firm has a market cap of $7.50 billion, a price-to-earnings ratio of 43.54, a price-to-earnings-growth ratio of 1.25 and a beta of 0.85. The company has a quick ratio of 3.82, a current ratio of 3.82 and a debt-to-equity ratio of 0.14. CareTrust REIT, Inc. has a 1 year low of $24.79 and a 1 year high of $34.92. The business has a 50 day moving average price of $31.99 and a 200 day moving average price of $29.43.

CareTrust REIT Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th were given a $0.335 dividend. The ex-dividend date of this dividend was Monday, June 30th. This represents a $1.34 dividend on an annualized basis and a dividend yield of 3.9%. CareTrust REIT's payout ratio is currently 111.67%.

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.