CareTrust REIT, Inc. (NASDAQ:CTRE) Stock Holdings Increased by Assetmark Inc.

Key Points

• Assetmark Inc. increased its holdings in CareTrust REIT by 108.6%, acquiring a total of 49,308 shares valued at approximately $1.4 million.
• Wells Fargo raised their target price for CareTrust REIT from $31.00 to $32.00, assigning an "overweight" rating, reflecting overall positive sentiment from analysts.
• CareTrust REIT announced a quarterly dividend of $0.335, which equates to an annualized dividend yield of 4.2% and has a payout ratio of 145.65%.

Assetmark Inc. lifted its holdings in CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) by 108.6% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 49,308 shares of the real estate investment trust's stock after purchasing an additional 25,675 shares during the quarter. Assetmark Inc.'s holdings in CareTrust REIT were worth $1,409,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently modified their holdings of the business. LPL Financial LLC increased its stake in shares of CareTrust REIT by 13.4% during the fourth quarter. LPL Financial LLC now owns 93,422 shares of the real estate investment trust's stock valued at $2,527,000 after acquiring an additional 11,008 shares during the period. Norges Bank bought a new position in CareTrust REIT during the 4th quarter valued at $33,180,000. Pictet Asset Management Holding SA increased its position in shares of CareTrust REIT by 27.6% during the 4th quarter. Pictet Asset Management Holding SA now owns 59,101 shares of the real estate investment trust's stock valued at $1,599,000 after purchasing an additional 12,769 shares during the period. Schroder Investment Management Group acquired a new position in shares of CareTrust REIT during the 4th quarter valued at $657,000. Finally, O Shaughnessy Asset Management LLC raised its stake in shares of CareTrust REIT by 5.4% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 11,777 shares of the real estate investment trust's stock worth $319,000 after buying an additional 601 shares in the last quarter. Institutional investors own 87.77% of the company's stock.

Analyst Ratings Changes

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

CareTrust REIT Trading Up 1.0%

Shares of NASDAQ:CTRE opened at $31.80 on Friday. 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 stock has a market capitalization of $6.09 billion, a price-to-earnings ratio of 40.25, a PEG ratio of 1.25 and a beta of 0.84. CareTrust REIT, Inc. has a 1-year low of $24.79 and a 1-year high of $33.15. The company has a 50 day moving average price of $30.06 and a 200 day moving average price of $28.41.

CareTrust REIT Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 30th were issued a $0.335 dividend. This represents a $1.34 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date was Monday, June 30th. CareTrust REIT's payout ratio is presently 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.

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