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

Edgestream Partners L.P. trimmed its position in shares of CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) by 19.6% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor 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 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in CTRE. New York State Common Retirement Fund grew its holdings in CareTrust REIT by 11.1% in the 1st quarter. New York State Common Retirement Fund now owns 58,828 shares of the real estate investment trust's stock valued at $1,681,000 after buying an additional 5,900 shares in the last quarter. Arizona State Retirement System grew its holdings in CareTrust REIT by 20.1% in the 1st quarter. Arizona State Retirement System now owns 53,731 shares of the real estate investment trust's stock valued at $1,536,000 after buying an additional 8,978 shares in the last quarter. Ballentine Partners LLC purchased a new stake in CareTrust REIT in the 1st quarter valued at $329,000. Xponance Inc. grew its holdings in CareTrust REIT by 6.2% in the 1st quarter. Xponance Inc. now owns 14,203 shares of the real estate investment trust's stock valued at $406,000 after buying an additional 824 shares in the last quarter. Finally, Cerity Partners LLC purchased a new stake in CareTrust REIT in the 1st quarter valued at $255,000. 87.77% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

CareTrust REIT Stock Up 0.0%

Shares of NASDAQ CTRE traded up $0.01 during midday trading on Friday, hitting $30.30. 981,037 shares of the company's stock were exchanged, compared to its average volume of 1,860,437. 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 twelve month low of $24.79 and a twelve month high of $33.15. The company has a market cap of $5.81 billion, a PE ratio of 38.35, a P/E/G ratio of 1.25 and a beta of 0.84. The firm's fifty day simple moving average is $29.64 and its 200-day simple moving average is $28.14.

CareTrust REIT Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th were given a dividend of $0.335 per share. This represents a $1.34 annualized dividend and a yield of 4.42%. The ex-dividend date was Monday, June 30th. CareTrust REIT's dividend payout ratio (DPR) is 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.