CareTrust REIT, Inc. (NASDAQ:CTRE) Shares Sold by Maryland State Retirement & Pension System

Key Points

• Maryland State Retirement & Pension System has reduced its holdings in CareTrust REIT by 13.1%, now owning 54,801 shares worth about $1.57 million.
• CareTrust REIT announced a quarterly dividend of $0.335 per share, resulting in an annualized yield of 4.1%.
• Institutional investors own 87.77% of CareTrust REIT's stock, with notable increases in stakes from FMR LLC and Jupiter Asset Management.

Maryland State Retirement & Pension System lessened its position in shares of CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) by 13.1% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 54,801 shares of the real estate investment trust's stock after selling 8,281 shares during the quarter. Maryland State Retirement & Pension System's holdings in CareTrust REIT were worth $1,566,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. FMR LLC raised its stake in CareTrust REIT by 51.8% in the 4th quarter. FMR LLC now owns 7,932,946 shares of the real estate investment trust's stock valued at $214,586,000 after purchasing an additional 2,708,050 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in CareTrust REIT in the 4th quarter valued at about $49,048,000. Balyasny Asset Management L.P. lifted its position in CareTrust REIT by 149.6% during the fourth quarter. Balyasny Asset Management L.P. now owns 2,708,664 shares of the real estate investment trust's stock valued at $73,269,000 after buying an additional 1,623,297 shares in the last quarter. Vanguard Group Inc. lifted its position in CareTrust REIT by 4.9% during the first quarter. Vanguard Group Inc. now owns 28,636,981 shares of the real estate investment trust's stock valued at $818,445,000 after buying an additional 1,336,348 shares in the last quarter. Finally, Jupiter Asset Management Ltd. boosted its holdings in CareTrust REIT by 5,756.5% in the 1st quarter. Jupiter Asset Management Ltd. now owns 1,181,431 shares of the real estate investment trust's stock worth $33,765,000 after acquiring an additional 1,161,258 shares during the period. Institutional investors and hedge funds own 87.77% of the company's stock.

CareTrust REIT Stock Performance

Shares of CTRE opened at $32.91 on Friday. The business's fifty day moving average price is $30.54 and its 200 day moving average price is $28.66. CareTrust REIT, Inc. has a 12-month low of $24.79 and a 12-month high of $33.52. The stock has a market capitalization of $6.59 billion, a PE ratio of 41.66, a price-to-earnings-growth ratio of 1.25 and a beta of 0.85. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.82 and a quick ratio of 3.82.

CareTrust REIT Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th were paid a $0.335 dividend. This represents a $1.34 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date was Monday, June 30th. CareTrust REIT's dividend payout ratio (DPR) is presently 111.67%.

Wall Street Analyst Weigh In

Separately, Wells Fargo & Company upped their price target on CareTrust REIT from $31.00 to $32.00 and gave the stock an "overweight" rating in a report on Monday, June 2nd. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $31.17.

CareTrust REIT 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.

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