CareTrust REIT, Inc. (NASDAQ:CTRE) Shares Sold by DekaBank Deutsche Girozentrale

DekaBank Deutsche Girozentrale decreased its position in shares of CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) by 9.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 81,719 shares of the real estate investment trust's stock after selling 8,179 shares during the period. DekaBank Deutsche Girozentrale's holdings in CareTrust REIT were worth $2,313,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CTRE. Quarry LP raised its position in shares of CareTrust REIT by 463.5% during 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. Fifth Third Bancorp increased its position in CareTrust REIT by 217.5% in the first quarter. Fifth Third Bancorp now owns 1,978 shares of the real estate investment trust's stock worth $57,000 after purchasing an additional 1,355 shares during the last quarter. Glen Eagle Advisors LLC purchased a new position in CareTrust REIT during the fourth quarter worth $56,000. Signaturefd LLC boosted its stake in CareTrust REIT by 20.3% during the fourth quarter. Signaturefd LLC now owns 2,628 shares of the real estate investment trust's stock worth $71,000 after buying an additional 443 shares during the period. Finally, GF Fund Management CO. LTD. purchased a new position in CareTrust REIT during the fourth quarter worth $76,000. Institutional investors own 87.77% of the company's stock.

Wall Street Analyst Weigh In

Separately, Wells Fargo & Company boosted their target price 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. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, CareTrust REIT has a consensus rating of "Moderate Buy" and a consensus target price of $31.17.

CareTrust REIT Stock Down 1.7%

Shares of CTRE stock traded down $0.53 on Tuesday, hitting $30.74. The stock had a trading volume of 1,578,566 shares, compared to its average volume of 1,854,219. The company has a quick ratio of 3.82, a current ratio of 3.82 and a debt-to-equity ratio of 0.14. The business has a 50 day moving average price of $29.57 and a 200 day moving average price of $28.07. The company has a market cap of $5.89 billion, a PE ratio of 38.91, a P/E/G ratio of 1.25 and a beta of 0.84. CareTrust REIT, Inc. has a one year low of $24.79 and a one year high of $33.15.

CareTrust REIT Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be issued a $0.335 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $1.34 dividend on an annualized basis and a yield of 4.36%. CareTrust REIT's dividend payout ratio is presently 145.65%.

About CareTrust REIT

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.