CareTrust REIT, Inc. (NASDAQ:CTRE) Shares Sold by Rhumbline Advisers

Rhumbline Advisers decreased its holdings in CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) by 2.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 557,180 shares of the real estate investment trust's stock after selling 15,484 shares during the period. Rhumbline Advisers owned approximately 0.29% of CareTrust REIT worth $15,924,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of CTRE. JPMorgan Chase & Co. raised its holdings in CareTrust REIT by 381.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 6,878,379 shares of the real estate investment trust's stock valued at $212,267,000 after acquiring an additional 5,448,904 shares during the last quarter. Blue Trust Inc. raised its holdings in CareTrust REIT by 50.0% in the 4th quarter. Blue Trust Inc. now owns 1,808 shares of the real estate investment trust's stock valued at $49,000 after acquiring an additional 603 shares during the last quarter. abrdn plc raised its holdings in CareTrust REIT by 110.3% in the 4th quarter. abrdn plc now owns 59,143 shares of the real estate investment trust's stock valued at $1,585,000 after acquiring an additional 31,018 shares during the last quarter. Yousif Capital Management LLC raised its holdings in CareTrust REIT by 19.7% in the 4th quarter. Yousif Capital Management LLC now owns 71,194 shares of the real estate investment trust's stock valued at $1,926,000 after acquiring an additional 11,734 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in CareTrust REIT by 146.0% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 13,567 shares of the real estate investment trust's stock valued at $365,000 after acquiring an additional 8,053 shares during the last quarter. Institutional investors and hedge funds own 87.77% of the company's stock.

CareTrust REIT Stock Down 0.3%

CareTrust REIT stock opened at $29.08 on Friday. CareTrust REIT, Inc. has a fifty-two week low of $24.35 and a fifty-two week high of $33.15. 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 50 day moving average price of $28.52 and a 200 day moving average price of $27.80. The company has a market capitalization of $5.57 billion, a PE ratio of 36.80, a price-to-earnings-growth ratio of 1.25 and a beta of 0.83.

CareTrust REIT Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were issued a $0.335 dividend. This represents a $1.34 annualized dividend and a yield of 4.61%. The ex-dividend date was Monday, March 31st. This is an increase from CareTrust REIT's previous quarterly dividend of $0.29. CareTrust REIT's dividend payout ratio (DPR) is 145.65%.

Analysts Set New Price Targets

CTRE has been the subject of a number of recent 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. Wells Fargo & Company raised their price target on shares of CareTrust REIT from $31.00 to $32.00 and gave the stock an "overweight" rating in a report on Monday, June 2nd. Royal Bank of Canada cut their price target on shares of CareTrust REIT from $37.00 to $32.00 and set an "outperform" rating for the company in a report on Friday, February 21st. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of CareTrust REIT from a "hold" rating to a "buy" rating and set a $31.00 price target for the company in a report on Thursday, March 13th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price 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.

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