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CareTrust REIT, Inc. (NASDAQ:CTRE) Shares Sold by Castellan Group

CareTrust REIT logo with Finance background

Key Points

  • Castellan Group reduced its stake in CareTrust REIT by 12.5%, selling 15,670 shares, and now owns 109,954 shares valued at approximately $3.14 million.
  • CareTrust REIT recently announced a quarterly dividend of $0.335 per share, with a yield of 4.2% based on an annualized payout of $1.34.
  • Wells Fargo increased its price target for CareTrust REIT from $31.00 to $32.00, maintaining an "overweight" rating, while the stock maintains an average rating of "Moderate Buy".
  • Five stocks we like better than CareTrust REIT.
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Castellan Group trimmed its position in CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) by 12.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 109,954 shares of the real estate investment trust's stock after selling 15,670 shares during the period. Castellan Group owned 0.06% of CareTrust REIT worth $3,142,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in CTRE. Quarry LP grew its position in 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 purchasing an additional 1,525 shares during the period. Glen Eagle Advisors LLC acquired a new stake in CareTrust REIT during the 4th quarter worth about $56,000. Fifth Third Bancorp grew its position in CareTrust REIT by 217.5% during the 1st quarter. Fifth Third Bancorp now owns 1,978 shares of the real estate investment trust's stock worth $57,000 after purchasing an additional 1,355 shares during the period. GF Fund Management CO. LTD. acquired a new stake in CareTrust REIT during the 4th quarter worth about $76,000. Finally, Covestor Ltd grew its position in CareTrust REIT by 44.1% during the 4th quarter. Covestor Ltd now owns 5,206 shares of the real estate investment trust's stock worth $141,000 after purchasing an additional 1,593 shares during the period. 87.77% of the stock is owned by institutional investors and hedge funds.

CareTrust REIT Trading Up 1.0%

CTRE stock opened at $31.80 on Friday. The company's 50-day simple moving average is $30.06 and its 200-day simple moving average is $28.41. The company has a quick ratio of 3.82, a current ratio of 3.82 and a debt-to-equity ratio of 0.14. CareTrust REIT, Inc. has a 52-week low of $24.79 and a 52-week high of $33.15. The firm has a market cap of $6.09 billion, a P/E ratio of 40.25, a PEG ratio of 1.25 and a beta of 0.84.

CareTrust REIT Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th were paid a dividend of $0.335 per share. This represents a $1.34 annualized dividend and a dividend yield of 4.2%. The ex-dividend date of this dividend was Monday, June 30th. CareTrust REIT's dividend payout ratio is presently 145.65%.

Analysts Set New Price Targets

Separately, Wells Fargo & Company increased their price target on CareTrust REIT from $31.00 to $32.00 and gave the stock an "overweight" rating in a research report on Monday, June 2nd. One 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, CareTrust REIT presently has an average rating of "Moderate Buy" and an average price target of $31.17.

View Our Latest Stock Analysis on CTRE

CareTrust REIT Profile

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding CTRE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report).

Institutional Ownership by Quarter for CareTrust REIT (NASDAQ:CTRE)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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