Invesco Ltd. Has $35.73 Million Holdings in CareTrust REIT, Inc. $CTRE

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 holdings in CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) by 2.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,250,090 shares of the real estate investment trust's stock after selling 25,554 shares during the period. Invesco Ltd. owned 0.65% of CareTrust REIT worth $35,728,000 as of its most recent filing with the SEC.

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

Analyst Ratings Changes

Several analysts have commented on the stock. Royal Bank Of Canada reiterated an "outperform" rating on shares of CareTrust REIT in a research report on Monday, August 11th. Wells Fargo & Company increased their target price on CareTrust REIT from $31.00 to $32.00 and gave the stock an "overweight" rating in a report on Monday, June 2nd. Finally, KeyCorp increased 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. Four equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $31.50.

CareTrust REIT Stock Performance

Shares of CTRE traded down $0.17 during mid-day trading on Friday, hitting $34.37. 1,999,436 shares of the company's stock were exchanged, compared to its average volume of 1,965,201. The stock's 50-day simple moving average is $31.49 and its 200-day simple moving average is $29.14. The firm has a market cap of $7.50 billion, a price-to-earnings ratio of 43.51, 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 52 week low of $24.79 and a 52 week high of $34.92.

CareTrust REIT Dividend Announcement

The company 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 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date of this dividend was Monday, June 30th. CareTrust REIT's dividend payout ratio (DPR) is 111.67%.

CareTrust REIT 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.