IFM Investors Pty Ltd Sells 9,842 Shares of CareTrust REIT, Inc. (NASDAQ:CTRE)

IFM Investors Pty Ltd cut its holdings in shares of CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) by 23.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 32,908 shares of the real estate investment trust's stock after selling 9,842 shares during the period. IFM Investors Pty Ltd's holdings in CareTrust REIT were worth $1,016,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in CTRE. Quarry LP increased its position in shares of CareTrust REIT by 463.5% during the fourth 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 bought a new stake in shares of CareTrust REIT during the fourth quarter worth about $56,000. Fifth Third Bancorp boosted its holdings 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 purchasing an additional 1,355 shares during the last quarter. Signaturefd LLC boosted its holdings in CareTrust REIT by 20.3% during the fourth quarter. Signaturefd LLC now owns 2,628 shares of the real estate investment trust's stock worth $71,000 after purchasing an additional 443 shares during the last quarter. Finally, GF Fund Management CO. LTD. purchased a new position in CareTrust REIT during the fourth quarter worth about $76,000. 87.77% of the stock is owned by institutional investors.

Analyst Ratings Changes

CTRE has been the topic of several analyst reports. Wedbush restated an "underperform" rating and set a $26.00 price target on shares of CareTrust REIT in a report on Friday, March 14th. Deutsche Bank Aktiengesellschaft upgraded shares of CareTrust REIT from a "hold" rating to a "buy" rating and set a $31.00 target price on the stock in a research note on Thursday, March 13th. Finally, Wells Fargo & Company boosted their target price 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 assigned a buy rating to the company's stock. Based on data from MarketBeat.com, CareTrust REIT currently has an average rating of "Moderate Buy" and a consensus target price of $31.17.

CareTrust REIT Price Performance

CareTrust REIT stock traded up $0.11 during midday trading on Wednesday, reaching $31.06. 2,499,464 shares of the stock were exchanged, compared to its average volume of 1,834,041. The company's fifty day moving average is $29.38 and its 200-day moving average is $27.94. The company has a debt-to-equity ratio of 0.14, a quick ratio of 3.82 and a current ratio of 3.82. The firm has a market cap of $5.95 billion, a PE ratio of 39.32, a PEG ratio of 1.25 and a beta of 0.84. CareTrust REIT, Inc. has a 52 week low of $24.79 and a 52 week high of $33.15.

CareTrust REIT Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be paid a $0.335 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $1.34 dividend on an annualized basis and a dividend yield of 4.31%. CareTrust REIT's dividend payout ratio (DPR) is 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.