CareTrust REIT, Inc. $CTRE Shares Purchased by Segall Bryant & Hamill LLC

Key Points

• Segall Bryant & Hamill boosted its stake in CareTrust REIT (NASDAQ:CTRE) by 33.5%, acquiring 181,280 shares to hold 722,727 shares worth about $22.12 million (≈0.36% ownership) at quarter-end.
• Institutional ownership is high at 87.77%, with other investors also changing positions—most notably Allianz Asset Management, which increased its CTRE holding by 954.3% (an added 102,111 shares).
• Analyst sentiment is broadly positive: CareTrust has a consensus rating of “Moderate Buy” with an average price target of $35.78 and individual targets ranging up to $42 from firms that have set buy/overweight ratings.

Segall Bryant & Hamill LLC lifted its holdings in CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) by 33.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 722,727 shares of the real estate investment trust's stock after acquiring an additional 181,280 shares during the period. Segall Bryant & Hamill LLC owned approximately 0.36% of CareTrust REIT worth $22,115,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in CTRE. Cerity Partners LLC purchased a new stake in CareTrust REIT during the 1st quarter worth $255,000. Kestra Private Wealth Services LLC acquired a new position in shares of CareTrust REIT during the first quarter worth about $208,000. Allianz Asset Management GmbH boosted its position in shares of CareTrust REIT by 954.3% in the first quarter. Allianz Asset Management GmbH now owns 112,811 shares of the real estate investment trust's stock worth $3,224,000 after buying an additional 102,111 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of CareTrust REIT in the first quarter valued at about $6,538,000. Finally, KLP Kapitalforvaltning AS grew its stake in shares of CareTrust REIT by 19.1% in the first quarter. KLP Kapitalforvaltning AS now owns 36,200 shares of the real estate investment trust's stock valued at $1,045,000 after buying an additional 5,800 shares in the last quarter. Hedge funds and other institutional investors own 87.77% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Raymond James Financial set a $39.00 price target on CareTrust REIT and gave the stock a "strong-buy" rating in a report on Tuesday, September 2nd. KeyCorp upped their target price on shares of CareTrust REIT from $33.00 to $36.00 and gave the company an "overweight" rating in a research note on Thursday, August 14th. Wells Fargo & Company raised their price target on shares of CareTrust REIT from $32.00 to $38.00 and gave the company an "overweight" rating in a report on Wednesday, August 27th. UBS Group began coverage on shares of CareTrust REIT in a research note on Tuesday. They set a "buy" rating and a $42.00 price target on the stock. Finally, Royal Bank Of Canada upped their price objective on shares of CareTrust REIT from $36.00 to $41.00 and gave the company an "outperform" rating in a research report on Monday, November 10th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, CareTrust REIT presently has a consensus rating of "Moderate Buy" and an average target price of $35.78.

CareTrust REIT Stock Performance

CareTrust REIT stock opened at $36.70 on Friday. CareTrust REIT, Inc. has a 52 week low of $24.79 and a 52 week high of $37.60. The company has a current ratio of 3.82, a quick ratio of 3.82 and a debt-to-equity ratio of 0.14. The stock has a market cap of $8.19 billion, a P/E ratio of 46.45, a price-to-earnings-growth ratio of 1.25 and a beta of 0.81. The stock has a 50 day moving average of $34.96 and a 200-day moving average of $32.45.

CareTrust REIT Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th were issued a dividend of $0.335 per share. This represents a $1.34 annualized dividend and a yield of 3.7%. The ex-dividend date of this dividend was Tuesday, September 30th. CareTrust REIT's dividend payout ratio (DPR) is currently 100.00%.

About CareTrust REIT

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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