Hsbc Holdings PLC Has $5.34 Million Holdings in CareTrust REIT, Inc. $CTRE

Key Points

• Hsbc Holdings PLC has reduced its stake in CareTrust REIT by 37.3%, selling 111,064 shares, and now holds approximately 0.10% of the company valued at $5.34 million.
• CareTrust REIT recently announced a quarterly dividend of $0.335 per share, with an annualized payout of $1.34 and a dividend yield of 3.9%.
• Analysts have mixed sentiments towards CareTrust REIT, with a consensus rating of "Moderate Buy" and various price target updates ranging from $31.00 to $36.00.

Hsbc Holdings PLC decreased its position in shares of CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) by 37.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 186,873 shares of the real estate investment trust's stock after selling 111,064 shares during the quarter. Hsbc Holdings PLC owned about 0.10% of CareTrust REIT worth $5,342,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the company. Quarry LP increased its position in CareTrust REIT by 463.5% in the 4th quarter. Quarry LP now owns 1,854 shares of the real estate investment trust's stock valued at $50,000 after acquiring an additional 1,525 shares during the period. Glen Eagle Advisors LLC acquired a new position in shares of CareTrust REIT during the fourth quarter valued at $56,000. Fifth Third Bancorp increased its holdings in shares of CareTrust REIT by 217.5% during the first quarter. Fifth Third Bancorp now owns 1,978 shares of the real estate investment trust's stock valued at $57,000 after purchasing an additional 1,355 shares during the period. GF Fund Management CO. LTD. bought a new stake in shares of CareTrust REIT during the fourth quarter valued at about $76,000. Finally, Pandora Wealth Inc. acquired a new stake in CareTrust REIT in the first quarter worth about $120,000. Institutional investors own 87.77% of the company's stock.

CareTrust REIT Price Performance

CareTrust REIT stock traded down $0.06 during mid-day trading on Friday, hitting $34.40. The company's stock had a trading volume of 2,124,496 shares, compared to its average volume of 1,956,533. CareTrust REIT, Inc. has a twelve month low of $24.79 and a twelve month high of $34.92. The stock's fifty day moving average price is $31.99 and its two-hundred day moving average price is $29.45. The stock has a market capitalization of $7.50 billion, a P/E ratio of 43.54, a P/E/G 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 Dividend Announcement

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

Analyst Ratings Changes

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

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.