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

IFM Investors Pty Ltd reduced its holdings in CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) by 23.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund 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.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. grew its stake in shares of CareTrust REIT by 24.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,891,679 shares of the real estate investment trust's stock valued at $78,220,000 after buying an additional 568,634 shares in the last quarter. Victory Capital Management Inc. grew its stake in shares of CareTrust REIT by 8.9% in the fourth quarter. Victory Capital Management Inc. now owns 909,627 shares of the real estate investment trust's stock valued at $24,605,000 after buying an additional 74,121 shares in the last quarter. M&T Bank Corp grew its stake in shares of CareTrust REIT by 15.6% in the fourth quarter. M&T Bank Corp now owns 15,356 shares of the real estate investment trust's stock valued at $415,000 after buying an additional 2,076 shares in the last quarter. Arizona State Retirement System grew its stake in shares of CareTrust REIT by 9.4% in the fourth quarter. Arizona State Retirement System now owns 44,753 shares of the real estate investment trust's stock valued at $1,211,000 after buying an additional 3,848 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new position in CareTrust REIT in the fourth quarter valued at about $49,048,000. 87.77% of the stock is currently owned by institutional investors and hedge funds.

CareTrust REIT Price Performance

Shares of CTRE stock traded up $0.09 during mid-day trading on Friday, hitting $30.73. 1,739,650 shares of the stock traded hands, compared to its average volume of 1,853,808. CareTrust REIT, Inc. has a twelve month low of $24.79 and a twelve month high of $33.15. The firm has a market cap of $5.89 billion, a price-to-earnings ratio of 38.90, a price-to-earnings-growth ratio of 1.25 and a beta of 0.84. The company's 50-day simple moving average is $29.49 and its 200-day simple moving average is $28.01. The company has a debt-to-equity ratio of 0.14, a quick ratio of 3.82 and a current ratio of 3.82.

CareTrust REIT Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be given a dividend of $0.335 per share. The ex-dividend date is Monday, June 30th. This represents a $1.34 annualized dividend and a dividend yield of 4.36%. CareTrust REIT's dividend payout ratio is presently 145.65%.

Wall Street Analysts Forecast Growth

CTRE has been the subject of a number of analyst reports. Wedbush reissued an "underperform" rating and issued a $26.00 price target on shares of CareTrust REIT in a report on Friday, March 14th. Wells Fargo & Company increased their price target on CareTrust REIT from $31.00 to $32.00 and gave the company an "overweight" rating in a report on Monday, June 2nd. One equities 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, CareTrust REIT currently has a consensus rating of "Moderate Buy" and an average 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.