CareTrust REIT, Inc. (NASDAQ:CTRE) Shares Acquired 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 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor 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.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Quarry LP raised its holdings in CareTrust REIT by 463.5% in the 4th quarter. Quarry LP now owns 1,854 shares of the real estate investment trust's stock valued at $50,000 after buying an additional 1,525 shares during the period. Glen Eagle Advisors LLC acquired a new stake in shares of CareTrust REIT during the fourth quarter valued at about $56,000. Fifth Third Bancorp raised its stake in shares of CareTrust REIT by 217.5% in the 1st quarter. Fifth Third Bancorp now owns 1,978 shares of the real estate investment trust's stock valued at $57,000 after acquiring an additional 1,355 shares during the period. Signaturefd LLC lifted its holdings 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 worth $71,000 after acquiring an additional 443 shares during the last quarter. Finally, GF Fund Management CO. LTD. acquired a new stake in CareTrust REIT in the 4th quarter valued at approximately $76,000. Institutional investors and hedge funds own 87.77% of the company's stock.

Analyst Ratings Changes

Separately, Wells Fargo & Company raised 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 assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $31.17.

CareTrust REIT Price Performance

CTRE traded up $0.41 during midday trading on Tuesday, reaching $30.80. 1,866,330 shares of the company's stock were exchanged, compared to its average volume of 1,862,396. CareTrust REIT, Inc. has a 1-year low of $24.79 and a 1-year high of $33.15. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.82 and a quick ratio of 3.82. The business's 50-day moving average price is $29.72 and its 200 day moving average price is $28.19. The stock has a market capitalization of $5.90 billion, a PE ratio of 38.99, a P/E/G ratio of 1.25 and a beta of 0.84.

CareTrust REIT Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 30th were paid a $0.335 dividend. The ex-dividend date was Monday, June 30th. This represents a $1.34 annualized dividend and a yield of 4.35%. CareTrust REIT's payout ratio is currently 145.65%.

About CareTrust REIT

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.