Campbell & CO Investment Adviser LLC Has $2.01 Million Position 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 CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) by 612.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 70,159 shares of the real estate investment trust's stock after buying an additional 60,315 shares during the period. Campbell & CO Investment Adviser LLC's holdings in CareTrust REIT were worth $2,005,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC boosted its position in CareTrust REIT by 21.8% during the first quarter. Allspring Global Investments Holdings LLC now owns 86,776 shares of the real estate investment trust's stock worth $2,471,000 after purchasing an additional 15,523 shares during the period. Principal Financial Group Inc. raised its stake in shares of CareTrust REIT by 3.0% in the first quarter. Principal Financial Group Inc. now owns 1,066,093 shares of the real estate investment trust's stock valued at $30,469,000 after purchasing an additional 31,279 shares in the last quarter. KBC Group NV raised its stake in shares of CareTrust REIT by 33.6% in the first quarter. KBC Group NV now owns 7,448 shares of the real estate investment trust's stock valued at $213,000 after purchasing an additional 1,875 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its stake in CareTrust REIT by 8.1% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 48,495 shares of the real estate investment trust's stock worth $1,386,000 after acquiring an additional 3,626 shares in the last quarter. Finally, Asset Management One Co. Ltd. raised its stake in CareTrust REIT by 4.0% during the first quarter. Asset Management One Co. Ltd. now owns 416,091 shares of the real estate investment trust's stock worth $11,892,000 after acquiring an additional 16,008 shares in the last quarter. Institutional investors and hedge funds own 87.77% of the company's stock.

Analyst Ratings Changes

CTRE has been the subject of a number of research reports. Royal Bank Of Canada restated an "outperform" rating on shares of CareTrust REIT in a research note on Monday, August 11th. KeyCorp lifted their price objective on CareTrust REIT from $33.00 to $36.00 and gave the stock an "overweight" rating in a research report on Thursday, August 14th. Finally, Wells Fargo & Company raised their target price on CareTrust REIT from $32.00 to $38.00 and gave the stock an "overweight" rating in a report on Wednesday. Four equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $32.50.

CareTrust REIT Stock Down 0.2%

Shares of NASDAQ:CTRE traded down $0.06 during trading on Friday, hitting $34.40. 929,178 shares of the company were exchanged, compared to its average volume of 1,948,091. The stock has a market cap of $7.50 billion, a price-to-earnings ratio of 43.54, a P/E/G ratio of 1.25 and a beta of 0.85. CareTrust REIT, Inc. has a fifty-two week low of $24.79 and a fifty-two week high of $34.92. The firm has a fifty day moving average price of $31.91 and a two-hundred day moving average price of $29.35. 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 Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th were given a dividend of $0.335 per share. 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 payout ratio is 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.