Quantbot Technologies LP Has $2.76 Million Position in CareTrust REIT, Inc. $CTRE

Key Points

• Quantbot Technologies LP has reduced its holdings in CareTrust REIT by 46.2%, now owning 96,561 shares valued at approximately $2.76 million.
• Institutional investors own 87.77% of CareTrust REIT, with multiple firms making significant increases in their positions, including Quarry LP growing its stake by 463.5%.
• CareTrust REIT has announced a quarterly dividend of $0.335, resulting in an annualized yield of 3.9%, along with a dividend payout ratio of 111.67%.

Quantbot Technologies LP decreased its position in shares of CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) by 46.2% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 96,561 shares of the real estate investment trust's stock after selling 82,923 shares during the quarter. Quantbot Technologies LP owned about 0.05% of CareTrust REIT worth $2,760,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Northern Trust Corp grew its position in shares of CareTrust REIT by 5.6% during the 1st quarter. Northern Trust Corp now owns 2,606,842 shares of the real estate investment trust's stock worth $74,504,000 after buying an additional 137,202 shares during the period. Algert Global LLC grew its position in shares of CareTrust REIT by 122.5% during the 1st quarter. Algert Global LLC now owns 217,093 shares of the real estate investment trust's stock worth $6,205,000 after buying an additional 119,520 shares during the period. Steward Partners Investment Advisory LLC grew its position in shares of CareTrust REIT by 2.5% during the 1st quarter. Steward Partners Investment Advisory LLC now owns 185,608 shares of the real estate investment trust's stock worth $5,305,000 after buying an additional 4,492 shares during the period. Nations Financial Group Inc. IA ADV grew its position in shares of CareTrust REIT by 11.3% during the 1st quarter. Nations Financial Group Inc. IA ADV now owns 11,121 shares of the real estate investment trust's stock worth $318,000 after buying an additional 1,132 shares during the period. Finally, Aberdeen Group plc grew its position in shares of CareTrust REIT by 6.9% during the 1st quarter. Aberdeen Group plc now owns 63,236 shares of the real estate investment trust's stock worth $1,807,000 after buying an additional 4,093 shares during the period. Institutional investors own 87.77% of the company's stock.

CareTrust REIT Stock Up 0.1%

NASDAQ CTRE traded up $0.03 during mid-day trading on Tuesday, hitting $34.19. The company's stock had a trading volume of 205,370 shares, compared to its average volume of 1,951,278. The company's 50 day simple moving average is $31.61 and its 200 day simple moving average is $29.22. CareTrust REIT, Inc. has a twelve month low of $24.79 and a twelve month high of $34.92. 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 firm has a market capitalization of $7.46 billion, a price-to-earnings ratio of 43.25, a PEG ratio of 1.25 and a beta of 0.85.

CareTrust REIT Announces Dividend

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

Analyst Ratings Changes

Several brokerages have recently commented on CTRE. Royal Bank Of Canada reaffirmed an "outperform" rating on shares of CareTrust REIT in a research report on Monday, August 11th. Wells Fargo & Company raised their price objective on shares of CareTrust REIT from $31.00 to $32.00 and gave the stock an "overweight" rating in a research report on Monday, June 2nd. Finally, KeyCorp raised their price objective on shares of CareTrust REIT from $33.00 to $36.00 and gave the stock an "overweight" rating in a research report on Thursday, August 14th. Four investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, CareTrust REIT currently has an average rating of "Moderate Buy" and an average price target of $31.50.

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.