CareTrust REIT, Inc. (NASDAQ:CTRE) Shares Acquired by Jupiter Asset Management Ltd.

Key Points

• Jupiter Asset Management Ltd. increased its holdings in CareTrust REIT by an impressive 5,756.5% during the first quarter, owning a total of 1,181,431 shares valued at approximately $33.77 million.
• CareTrust REIT has declared a quarterly dividend of $0.335 per share, resulting in an annualized yield of 4.2%, with a payout ratio of 145.65%.
• Wells Fargo & Company has raised its target price for CareTrust REIT from $31.00 to $32.00, indicating an "overweight" rating, with overall consensus rating currently at "Moderate Buy."

Jupiter Asset Management Ltd. boosted its holdings in shares of CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) by 5,756.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,181,431 shares of the real estate investment trust's stock after purchasing an additional 1,161,258 shares during the quarter. Jupiter Asset Management Ltd. owned about 0.62% of CareTrust REIT worth $33,765,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of CTRE. FMR LLC increased its position in CareTrust REIT by 51.8% during the fourth quarter. FMR LLC now owns 7,932,946 shares of the real estate investment trust's stock valued at $214,586,000 after acquiring an additional 2,708,050 shares during the last quarter. Geode Capital Management LLC grew its holdings in CareTrust REIT by 23.8% during the 4th quarter. Geode Capital Management LLC now owns 4,620,274 shares of the real estate investment trust's stock worth $125,006,000 after acquiring an additional 887,665 shares in the last quarter. Balyasny Asset Management L.P. grew its position in shares of CareTrust REIT by 149.6% in the 4th quarter. Balyasny Asset Management L.P. now owns 2,708,664 shares of the real estate investment trust's stock worth $73,269,000 after buying an additional 1,623,297 shares during the last quarter. Northern Trust Corp grew its position in shares of CareTrust REIT by 45.1% in the 4th quarter. Northern Trust Corp now owns 2,469,640 shares of the real estate investment trust's stock worth $66,804,000 after buying an additional 767,640 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in shares of CareTrust REIT by 15.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,443,829 shares of the real estate investment trust's stock worth $66,105,000 after buying an additional 325,217 shares during the last quarter. Hedge funds and other institutional investors own 87.77% of the company's stock.

CareTrust REIT Trading Up 2.7%

Shares of CTRE traded up $0.88 during mid-day trading on Monday, reaching $32.87. The stock had a trading volume of 1,998,257 shares, compared to its average volume of 1,755,184. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.82 and a quick ratio of 3.82. CareTrust REIT, Inc. has a 52-week low of $24.79 and a 52-week high of $33.15. The business's fifty day moving average is $30.13 and its 200 day moving average is $28.46. The firm has a market cap of $6.30 billion, a price-to-earnings ratio of 41.60, a P/E/G ratio of 1.25 and a beta of 0.85.

CareTrust REIT Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders 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 dividend on an annualized basis and a yield of 4.1%. CareTrust REIT's dividend payout ratio is presently 145.65%.

Analysts Set New Price Targets

Separately, Wells Fargo & Company lifted their price objective on shares of CareTrust REIT from $31.00 to $32.00 and gave the company an "overweight" rating in a research note on Monday, June 2nd. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $31.17.

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.