IFM Investors Pty Ltd Decreases Stake in CareTrust REIT, Inc. (NASDAQ:CTRE)

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

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. GF Fund Management CO. LTD. grew its position in shares of CareTrust REIT by 26.6% during the first quarter. GF Fund Management CO. LTD. now owns 3,548 shares of the real estate investment trust's stock worth $101,000 after acquiring an additional 746 shares during the last quarter. D.A. Davidson & CO. grew its position in shares of CareTrust REIT by 7.9% during the first quarter. D.A. Davidson & CO. now owns 39,522 shares of the real estate investment trust's stock worth $1,130,000 after acquiring an additional 2,877 shares during the last quarter. Principal Financial Group Inc. grew its position in shares of CareTrust REIT by 3.0% during the first quarter. Principal Financial Group Inc. now owns 1,066,093 shares of the real estate investment trust's stock worth $30,469,000 after acquiring an additional 31,279 shares during the last quarter. MBM Wealth Consultants LLC grew its position in shares of CareTrust REIT by 12.5% during the first quarter. MBM Wealth Consultants LLC now owns 14,125 shares of the real estate investment trust's stock worth $408,000 after acquiring an additional 1,569 shares during the last quarter. Finally, Meritage Portfolio Management purchased a new position in shares of CareTrust REIT during the first quarter worth approximately $699,000. Institutional investors and hedge funds own 87.77% of the company's stock.

Analyst Upgrades and Downgrades

CTRE has been the topic of a number of research reports. Wells Fargo & Company raised their target price on shares of CareTrust REIT from $31.00 to $32.00 and gave the stock an "overweight" rating in a research report on Monday, June 2nd. 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 report on Thursday, March 13th. Finally, Wedbush restated an "underperform" rating and set a $26.00 target price on shares of CareTrust REIT in a research report on Friday, March 14th. 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, CareTrust REIT currently has a consensus rating of "Moderate Buy" and an average price target of $31.17.

CareTrust REIT Stock Performance

NASDAQ:CTRE traded down $0.02 during midday trading on Thursday, reaching $30.95. The stock had a trading volume of 533,010 shares, compared to its average volume of 1,834,419. The firm has a fifty day simple moving average of $29.42 and a two-hundred day simple moving average of $27.96. CareTrust REIT, Inc. has a 12-month low of $24.79 and a 12-month high of $33.15. The company has a quick ratio of 3.82, a current ratio of 3.82 and a debt-to-equity ratio of 0.14. The stock has a market cap of $5.93 billion, a P/E ratio of 39.07, a P/E/G ratio of 1.25 and a beta of 0.84.

CareTrust REIT Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be given a dividend of $0.335 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $1.34 annualized dividend and a dividend yield of 4.33%. CareTrust REIT's payout ratio is currently 145.65%.

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.