CareTrust REIT, Inc. $CTRE Shares Sold by Invesco Ltd.

Key Points

• Invesco Ltd. reduced its stake in CareTrust REIT by 2.0%, now holding 1,250,090 shares worth approximately $35.73 million.
• CareTrust REIT recently declared a quarterly dividend of $0.335 per share, with an annualized yield of 4.0% and a payout ratio of 111.67%.
• The stock has a 12-month price range with a low of $24.79 and a high of $34.00, currently trading around $33.55.

Invesco Ltd. cut its position in shares of CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) by 2.0% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,250,090 shares of the real estate investment trust's stock after selling 25,554 shares during the quarter. Invesco Ltd. owned 0.65% of CareTrust REIT worth $35,728,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of the stock. Pandora Wealth Inc. purchased a new position in CareTrust REIT during the first quarter worth $120,000. Benjamin Edwards Inc. increased its position in CareTrust REIT by 4.4% during the first quarter. Benjamin Edwards Inc. now owns 90,107 shares of the real estate investment trust's stock worth $2,575,000 after buying an additional 3,794 shares in the last quarter. Covestor Ltd increased its position in CareTrust REIT by 41.2% during the first quarter. Covestor Ltd now owns 7,350 shares of the real estate investment trust's stock worth $210,000 after buying an additional 2,144 shares in the last quarter. Swiss National Bank increased its position in CareTrust REIT by 19.6% during the first quarter. Swiss National Bank now owns 362,949 shares of the real estate investment trust's stock worth $10,373,000 after buying an additional 59,600 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. increased its position in CareTrust REIT by 4.9% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 129,491 shares of the real estate investment trust's stock worth $3,701,000 after buying an additional 6,045 shares in the last quarter. Hedge funds and other institutional investors own 87.77% of the company's stock.

CareTrust REIT Price Performance

CTRE stock opened at $33.55 on Tuesday. The stock has a 50-day moving average price of $31.06 and a two-hundred day moving average price of $28.95. CareTrust REIT, Inc. has a 12-month low of $24.79 and a 12-month high of $34.00. 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 company has a market cap of $6.72 billion, a PE ratio of 42.47, a price-to-earnings-growth ratio of 1.25 and a beta of 0.85.

CareTrust REIT Announces Dividend

The company 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. This represents a $1.34 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date of this dividend was Monday, June 30th. CareTrust REIT's payout ratio is 111.67%.

Analyst Ratings Changes

CTRE has been the subject of several recent research reports. KeyCorp reissued an "overweight" rating and set a $36.00 price target (up previously from $33.00) on shares of CareTrust REIT in a research report on Thursday. Wells Fargo & Company lifted their price objective on CareTrust REIT from $31.00 to $32.00 and gave the company an "overweight" rating in a research report on Monday, June 2nd. Finally, Royal Bank Of Canada reaffirmed an "outperform" rating on shares of CareTrust REIT in a research report on Monday, August 11th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, CareTrust REIT currently has an average rating of "Moderate Buy" and a consensus price target of $31.50.

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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