Edgestream Partners L.P. Decreases Holdings in CareTrust REIT, Inc. (NASDAQ:CTRE)

Edgestream Partners L.P. lowered its stake in CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) by 19.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 75,835 shares of the real estate investment trust's stock after selling 18,534 shares during the quarter. Edgestream Partners L.P.'s holdings in CareTrust REIT were worth $2,167,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CTRE. Allspring Global Investments Holdings LLC boosted its holdings in CareTrust REIT by 21.8% in the first quarter. Allspring Global Investments Holdings LLC now owns 86,776 shares of the real estate investment trust's stock valued at $2,471,000 after acquiring an additional 15,523 shares during the last quarter. Principal Financial Group Inc. increased its stake in shares of CareTrust REIT by 3.0% in the first quarter. Principal Financial Group Inc. now owns 1,066,093 shares of the real estate investment trust's stock valued at $30,469,000 after buying an additional 31,279 shares during the period. Corient Private Wealth LLC boosted its holdings in CareTrust REIT by 9.2% in the fourth quarter. Corient Private Wealth LLC now owns 22,481 shares of the real estate investment trust's stock worth $608,000 after acquiring an additional 1,903 shares in the last quarter. KBC Group NV increased its position in shares of CareTrust REIT by 33.6% during the first quarter. KBC Group NV now owns 7,448 shares of the real estate investment trust's stock valued at $213,000 after acquiring an additional 1,875 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. grew its position in shares of CareTrust REIT by 8.1% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 48,495 shares of the real estate investment trust's stock valued at $1,386,000 after purchasing an additional 3,626 shares in the last quarter. 87.77% of the stock is currently owned by institutional investors.

CareTrust REIT Price Performance

Shares of NASDAQ:CTRE traded up $0.03 on Monday, hitting $30.37. The company's stock had a trading volume of 1,205,416 shares, compared to its average volume of 1,857,824. The company has a market capitalization of $5.82 billion, a PE ratio of 38.44, a PEG ratio of 1.25 and a beta of 0.84. 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 1 year low of $24.79 and a 1 year high of $33.15. The company has a 50-day simple moving average of $29.64 and a 200 day simple moving average of $28.15.

CareTrust REIT Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 30th were paid a dividend of $0.335 per share. The ex-dividend date was Monday, June 30th. This represents a $1.34 annualized dividend and a yield of 4.41%. CareTrust REIT's dividend payout ratio (DPR) is 145.65%.

Analyst Upgrades and Downgrades

Separately, Wells Fargo & Company lifted their target price on CareTrust REIT from $31.00 to $32.00 and gave the stock an "overweight" rating in a report on Monday, June 2nd. One equities 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 company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $31.17.

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.