CareTrust REIT, Inc. (NASDAQ:CTRE) Shares Bought by Arizona State Retirement System

Arizona State Retirement System boosted its holdings in shares of CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) by 20.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 53,731 shares of the real estate investment trust's stock after acquiring an additional 8,978 shares during the period. Arizona State Retirement System's holdings in CareTrust REIT were worth $1,536,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the company. Quarry LP boosted its stake in shares of CareTrust REIT by 463.5% during the 4th quarter. Quarry LP now owns 1,854 shares of the real estate investment trust's stock worth $50,000 after acquiring an additional 1,525 shares in the last quarter. Glen Eagle Advisors LLC acquired a new position in shares of CareTrust REIT in the 4th quarter valued at $56,000. Fifth Third Bancorp grew its stake in 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 buying an additional 1,355 shares during the last quarter. Signaturefd LLC increased its stake in shares of CareTrust REIT by 20.3% in the 4th quarter. Signaturefd LLC now owns 2,628 shares of the real estate investment trust's stock valued at $71,000 after buying an additional 443 shares during the period. Finally, GF Fund Management CO. LTD. bought a new stake in shares of CareTrust REIT during the 4th quarter valued at $76,000. Institutional investors and hedge funds own 87.77% of the company's stock.

CareTrust REIT Stock Up 0.0%

Shares of NASDAQ CTRE traded up $0.01 during midday trading on Friday, hitting $30.30. The company's stock had a trading volume of 981,037 shares, compared to its average volume of 1,860,437. The firm has a market capitalization of $5.81 billion, a price-to-earnings ratio of 38.35, a price-to-earnings-growth ratio of 1.25 and a beta of 0.84. 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 1 year low of $24.79 and a 1 year high of $33.15. The business's fifty day simple moving average is $29.64 and its two-hundred day simple moving average is $28.14.

CareTrust REIT Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 30th were issued a $0.335 dividend. The ex-dividend date was Monday, June 30th. This represents a $1.34 dividend on an annualized basis and a dividend yield of 4.42%. CareTrust REIT's dividend payout ratio (DPR) is presently 145.65%.

Analyst Ratings Changes

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

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.