Employees Retirement System of Texas trimmed its position in shares of CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) by 45.0% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 71,000 shares of the real estate investment trust's stock after selling 58,000 shares during the quarter. Employees Retirement System of Texas' holdings in CareTrust REIT were worth $1,921,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently added to or reduced their stakes in CTRE. Advantage Trust Co purchased a new stake in shares of CareTrust REIT during the fourth quarter worth $30,000. Blue Trust Inc. raised its holdings in CareTrust REIT by 50.0% in the 4th quarter. Blue Trust Inc. now owns 1,808 shares of the real estate investment trust's stock valued at $49,000 after acquiring an additional 603 shares during the last quarter. Quarry LP lifted its stake in CareTrust REIT by 463.5% in the 4th quarter. Quarry LP now owns 1,854 shares of the real estate investment trust's stock worth $50,000 after purchasing an additional 1,525 shares in the last quarter. Glen Eagle Advisors LLC acquired a new position in shares of CareTrust REIT during the 4th quarter worth approximately $56,000. Finally, Signaturefd LLC boosted its holdings in shares of CareTrust REIT by 20.3% during the 4th quarter. Signaturefd LLC now owns 2,628 shares of the real estate investment trust's stock worth $71,000 after purchasing an additional 443 shares during the last quarter. 87.77% of the stock is owned by institutional investors and hedge funds.
CareTrust REIT Trading Up 0.8%
CTRE stock traded up $0.24 during mid-day trading on Friday, hitting $28.79. 1,286,772 shares of the company were exchanged, compared to its average volume of 1,823,503. CareTrust REIT, Inc. has a 12-month low of $24.35 and a 12-month high of $33.15. 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 fifty day simple moving average of $28.48 and a 200-day simple moving average of $27.87. The firm has a market capitalization of $5.52 billion, a P/E ratio of 36.44, a PEG ratio of 1.25 and a beta of 0.88.
CareTrust REIT Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were given a $0.335 dividend. This represents a $1.34 annualized dividend and a yield of 4.66%. The ex-dividend date was Monday, March 31st. This is a boost from CareTrust REIT's previous quarterly dividend of $0.29. CareTrust REIT's dividend payout ratio (DPR) is currently 145.65%.
Wall Street Analysts Forecast Growth
CTRE has been the topic of a number of analyst reports. Royal Bank of Canada reduced their price objective on CareTrust REIT from $37.00 to $32.00 and set an "outperform" rating on the stock in a research report on Friday, February 21st. Deutsche Bank Aktiengesellschaft raised CareTrust REIT from a "hold" rating to a "buy" rating and set a $31.00 target price for the company in a research note on Thursday, March 13th. Wedbush reissued an "underperform" rating and set a $26.00 price target on shares of CareTrust REIT in a research report on Friday, March 14th. Finally, Wells Fargo & Company cut their price objective on shares of CareTrust REIT from $34.00 to $31.00 and set an "overweight" rating for the company in a research report on Monday, March 10th. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $31.00.
Get Our Latest Stock Analysis on CareTrust REIT
CareTrust REIT Profile
(
Free Report)
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.
Featured Stories
Before you consider CareTrust REIT, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and CareTrust REIT wasn't on the list.
While CareTrust REIT currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
