Farther Finance Advisors LLC Trims Stock Holdings in CareTrust REIT, Inc. (NASDAQ:CTRE)

Farther Finance Advisors LLC reduced its position in CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) by 90.6% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 1,487 shares of the real estate investment trust's stock after selling 14,296 shares during the quarter. Farther Finance Advisors LLC's holdings in CareTrust REIT were worth $42,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. Quarry LP raised its stake in shares of CareTrust REIT by 463.5% during the 4th 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 in the last quarter. Glen Eagle Advisors LLC acquired a new position in CareTrust REIT during the fourth quarter worth $56,000. Signaturefd LLC raised its position in CareTrust REIT by 20.3% in the fourth quarter. Signaturefd LLC now owns 2,628 shares of the real estate investment trust's stock worth $71,000 after acquiring an additional 443 shares in the last quarter. GF Fund Management CO. LTD. acquired a new stake in CareTrust REIT in the fourth quarter valued at $76,000. Finally, Smartleaf Asset Management LLC lifted its holdings in CareTrust REIT by 56.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 5,032 shares of the real estate investment trust's stock valued at $135,000 after acquiring an additional 1,806 shares during the period. Hedge funds and other institutional investors own 87.77% of the company's stock.

CareTrust REIT Price Performance

Shares of NASDAQ:CTRE traded up $0.06 during midday trading on Friday, hitting $30.62. 3,202,466 shares of the stock were exchanged, compared to its average volume of 1,804,487. CareTrust REIT, Inc. has a twelve month low of $24.79 and a twelve month high of $33.15. The company has a current ratio of 3.82, a quick ratio of 3.82 and a debt-to-equity ratio of 0.14. The company has a 50 day moving average price of $29.03 and a 200-day moving average price of $27.80. The stock has a market cap of $5.87 billion, a P/E ratio of 38.75, a PEG ratio of 1.25 and a beta of 0.83.

CareTrust REIT Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be given a dividend of $0.335 per share. The ex-dividend date is Monday, June 30th. This represents a $1.34 annualized dividend and a dividend yield of 4.38%. CareTrust REIT's dividend payout ratio is currently 145.65%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on CTRE shares. Wells Fargo & Company upped their price target on shares of CareTrust REIT from $31.00 to $32.00 and gave the stock an "overweight" rating in a research note on Monday, June 2nd. Deutsche Bank Aktiengesellschaft upgraded shares of CareTrust REIT from a "hold" rating to a "buy" rating and set a $31.00 target price on the stock in a research report on Thursday, March 13th. Finally, Wedbush reaffirmed an "underperform" rating and issued a $26.00 target price on shares of CareTrust REIT in a report on Friday, March 14th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat, CareTrust REIT presently has a consensus rating of "Moderate Buy" and a consensus target price 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.