Citigroup Inc. Reduces Stock Holdings in CareTrust REIT, Inc. $CTRE

Key Points

• Citigroup Inc. has reduced its stake in CareTrust REIT by 8.4%, holding 295,712 shares worth approximately $8.45 million after selling 27,289 shares in the first quarter.
• Vanguard Group Inc. and other large investors increased their holdings in CareTrust REIT, with Vanguard raising its position by 4.9% and owning approximately 28.6 million shares, valued at $818.4 million.
• CareTrust REIT announced a quarterly dividend of $0.335 per share, which represents an annualized dividend yield of 4.0% and a payout ratio of 111.67%.

Citigroup Inc. lessened its position in shares of CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) by 8.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 295,712 shares of the real estate investment trust's stock after selling 27,289 shares during the quarter. Citigroup Inc. owned about 0.15% of CareTrust REIT worth $8,451,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Quarry LP raised its stake in shares of CareTrust REIT by 463.5% during the 4th quarter. Quarry LP now owns 1,854 shares of the real estate investment trust's stock worth $50,000 after acquiring an additional 1,525 shares in the last quarter. Glen Eagle Advisors LLC bought a new position in shares of CareTrust REIT during the 4th quarter worth approximately $56,000. Fifth Third Bancorp raised its stake in shares of CareTrust REIT by 217.5% during the 1st quarter. Fifth Third Bancorp now owns 1,978 shares of the real estate investment trust's stock worth $57,000 after acquiring an additional 1,355 shares in the last quarter. GF Fund Management CO. LTD. bought a new position in shares of CareTrust REIT during the 4th quarter worth approximately $76,000. Finally, State of Wyoming bought a new position in shares of CareTrust REIT during the 4th quarter worth approximately $152,000. Institutional investors own 87.77% of the company's stock.

Analysts Set New Price Targets

CTRE has been the subject of several recent analyst reports. KeyCorp boosted their price objective on shares of CareTrust REIT from $33.00 to $36.00 and gave the stock an "overweight" rating in a research note on Thursday, August 14th. Royal Bank Of Canada restated an "outperform" rating on shares of CareTrust REIT in a research note on Monday, August 11th. Finally, Wells Fargo & Company upped their price target on shares of CareTrust REIT from $31.00 to $32.00 and gave the company an "overweight" rating in a research note on Monday, June 2nd. Four equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, CareTrust REIT currently has an average rating of "Moderate Buy" and a consensus target price of $31.50.

CareTrust REIT Stock Performance

CareTrust REIT stock traded up $0.3990 during mid-day trading on Thursday, reaching $34.7090. 84,848 shares of the company traded hands, compared to its average volume of 1,952,557. 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, Inc. has a fifty-two week low of $24.79 and a fifty-two week high of $34.69. The company has a market capitalization of $6.95 billion, a price-to-earnings ratio of 43.91, a price-to-earnings-growth ratio of 1.25 and a beta of 0.85. The firm's fifty day moving average is $31.27 and its two-hundred day moving average is $29.02.

CareTrust REIT Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th were issued a $0.335 dividend. This represents a $1.34 annualized dividend and a dividend yield of 3.9%. The ex-dividend date of this dividend was Monday, June 30th. CareTrust REIT's dividend payout ratio is 111.67%.

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.