CareTrust REIT, Inc. $CTRE Stock Holdings Lowered by William Blair Investment Management LLC

Key Points

• William Blair Investment Management LLC reduced its holdings in CareTrust REIT, Inc. by 7.6%, selling 113,782 shares and owning 1,383,975 shares valued at approximately $42.35 million.
• Institutional investors collectively own 87.77% of CareTrust REIT's stock, with several firms, including Parallel Advisors LLC and CWM LLC, significantly increasing their positions.
• CareTrust REIT recently declared a quarterly dividend of $0.335 per share, reflecting an annualized yield of 3.9%, although its dividend payout ratio stands at 111.67%.

William Blair Investment Management LLC lowered its position in shares of CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) by 7.6% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 1,383,975 shares of the real estate investment trust's stock after selling 113,782 shares during the period. William Blair Investment Management LLC owned 0.72% of CareTrust REIT worth $42,350,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Parallel Advisors LLC grew its position in shares of CareTrust REIT by 109.5% during the second quarter. Parallel Advisors LLC now owns 1,100 shares of the real estate investment trust's stock worth $34,000 after acquiring an additional 575 shares during the last quarter. Fifth Third Bancorp grew its position 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 worth $57,000 after acquiring an additional 1,355 shares during the last quarter. Twin Tree Management LP bought a new position in shares of CareTrust REIT during the first quarter worth about $58,000. Private Trust Co. NA grew its position in shares of CareTrust REIT by 1,328.3% during the second quarter. Private Trust Co. NA now owns 2,828 shares of the real estate investment trust's stock worth $87,000 after acquiring an additional 2,630 shares during the last quarter. Finally, CWM LLC grew its position in shares of CareTrust REIT by 47.6% during the second quarter. CWM LLC now owns 2,955 shares of the real estate investment trust's stock worth $90,000 after acquiring an additional 953 shares during the last quarter. Institutional investors own 87.77% of the company's stock.

CareTrust REIT Price Performance

Shares of NASDAQ CTRE opened at $34.55 on Friday. CareTrust REIT, Inc. has a twelve month low of $24.79 and a twelve month high of $35.68. 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 capitalization of $7.54 billion, a price-to-earnings ratio of 43.74, a PEG ratio of 1.25 and a beta of 0.82. The firm has a 50-day moving average of $34.14 and a two-hundred day moving average of $31.15.

CareTrust REIT Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th were issued 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 Tuesday, September 30th. CareTrust REIT's dividend payout ratio is presently 111.67%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Royal Bank Of Canada restated an "outperform" rating on shares of CareTrust REIT in a research report on Monday, August 11th. KeyCorp increased their target price on shares of CareTrust REIT from $33.00 to $36.00 and gave the company an "overweight" rating in a research report on Thursday, August 14th. Wells Fargo & Company increased their target price on shares of CareTrust REIT from $32.00 to $38.00 and gave the company an "overweight" rating in a research report on Wednesday, August 27th. Cantor Fitzgerald assumed coverage on shares of CareTrust REIT in a research report on Wednesday, October 1st. They issued a "neutral" rating and a $37.00 target price for the company. Finally, Raymond James Financial set a $39.00 target price on shares of CareTrust REIT and gave the company a "strong-buy" rating in a research report on Tuesday, September 2nd. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $33.88.

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.

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