CareTrust REIT, Inc. $CTRE Shares Sold by Deutsche Bank AG

Key Points

• Deutsche Bank AG significantly reduced its holdings in CareTrust REIT by 92.8%, selling nearly 3 million shares and retaining only 229,761 shares, valued at approximately $6.57 million.
• Despite Deutsche Bank's reduction, other institutional investors like Quarry LP and Fifth Third Bancorp have increased their stakes substantially during the same timeframe, showing a mixed interest among large investors.
• Equities analysts maintain a generally positive outlook on CareTrust REIT, with a current consensus rating of "Moderate Buy" and target prices ranging up to $36.00 from firms like KeyCorp and Wells Fargo.

Deutsche Bank AG lessened its stake in CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) by 92.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 229,761 shares of the real estate investment trust's stock after selling 2,950,026 shares during the period. Deutsche Bank AG owned about 0.12% of CareTrust REIT worth $6,567,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in CTRE. Quarry LP increased its stake 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 worth $50,000 after buying an additional 1,525 shares during the last quarter. Glen Eagle Advisors LLC bought a new stake in shares of CareTrust REIT in the fourth quarter worth $56,000. Fifth Third Bancorp increased its stake in shares of 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 buying an additional 1,355 shares during the last quarter. GF Fund Management CO. LTD. bought a new stake in shares of CareTrust REIT in the fourth quarter worth $76,000. Finally, State of Wyoming bought a new stake in shares of CareTrust REIT in the fourth quarter worth $152,000. Institutional investors own 87.77% of the company's stock.

Analyst Upgrades and Downgrades

CTRE has been the subject of a number of research analyst reports. Royal Bank Of Canada restated an "outperform" rating on shares of CareTrust REIT in a research note on Monday, August 11th. 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. Finally, KeyCorp boosted their target price on shares of CareTrust REIT from $33.00 to $36.00 and gave the company an "overweight" rating in a research note on Thursday, August 14th. Four analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, CareTrust REIT currently has an average rating of "Moderate Buy" and a consensus price target of $31.50.

CareTrust REIT Stock Performance

CTRE stock traded up $0.3990 during trading on Thursday, hitting $34.7090. 84,848 shares of the company's stock traded hands, compared to its average volume of 1,952,557. The company has a quick ratio of 3.82, a current ratio of 3.82 and a debt-to-equity ratio of 0.14. CareTrust REIT, Inc. has a 52 week low of $24.79 and a 52 week high of $34.69. The stock has a fifty day moving average price of $31.27 and a two-hundred day moving average price of $29.02. The stock 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.

CareTrust REIT Announces Dividend

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