CareTrust REIT, Inc. (NASDAQ:CTRE) Shares Sold by Zimmer Partners LP

Zimmer Partners LP lowered its holdings in shares of CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) by 15.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,922,828 shares of the real estate investment trust's stock after selling 526,787 shares during the period. CareTrust REIT comprises 1.4% of Zimmer Partners LP's portfolio, making the stock its 21st largest holding. Zimmer Partners LP owned approximately 1.70% of CareTrust REIT worth $79,062,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Advantage Trust Co acquired a new position in shares of CareTrust REIT in the fourth quarter valued at approximately $30,000. Blue Trust Inc. raised its position in shares of CareTrust REIT by 50.0% in the fourth quarter. Blue Trust Inc. now owns 1,808 shares of the real estate investment trust's stock valued at $49,000 after buying an additional 603 shares during the last quarter. Quarry LP raised its position in shares of CareTrust REIT by 463.5% in the fourth quarter. Quarry LP now owns 1,854 shares of the real estate investment trust's stock valued at $50,000 after buying an additional 1,525 shares during the last quarter. Signaturefd LLC raised its position in shares of CareTrust REIT by 20.3% in the fourth quarter. Signaturefd LLC now owns 2,628 shares of the real estate investment trust's stock valued at $71,000 after buying an additional 443 shares during the last quarter. Finally, Smartleaf Asset Management LLC raised its position in shares of CareTrust REIT by 56.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 5,032 shares of the real estate investment trust's stock valued at $135,000 after buying an additional 1,806 shares during the last quarter. Institutional investors and hedge funds own 87.77% of the company's stock.

CareTrust REIT Stock Performance

Shares of CTRE stock opened at $29.38 on Tuesday. CareTrust REIT, Inc. has a one year low of $24.35 and a one year 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 company has a 50 day moving average price of $28.47 and a 200 day moving average price of $27.95. The firm has a market capitalization of $5.63 billion, a price-to-earnings ratio of 37.19, a price-to-earnings-growth ratio of 1.25 and a beta of 0.88.

CareTrust REIT Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were given a dividend of $0.335 per share. This is a positive change from CareTrust REIT's previous quarterly dividend of $0.29. The ex-dividend date was Monday, March 31st. This represents a $1.34 annualized dividend and a yield of 4.56%. CareTrust REIT's dividend payout ratio is 145.65%.

Analysts Set New Price Targets

CTRE has been the subject of a number of analyst reports. Royal Bank of Canada cut their price objective on shares of CareTrust REIT from $37.00 to $32.00 and set an "outperform" rating for the company in a research report on Friday, February 21st. Deutsche Bank Aktiengesellschaft raised shares of CareTrust REIT from a "hold" rating to a "buy" rating and set a $31.00 price objective for the company in a research report on Thursday, March 13th. Wells Fargo & Company cut their price objective on shares of CareTrust REIT from $34.00 to $31.00 and set an "overweight" rating for the company in a research report on Monday, March 10th. Finally, Wedbush reissued an "underperform" rating and issued a $26.00 price objective on shares of CareTrust REIT in a research report on Friday, March 14th. One analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $31.00.

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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