Farther Finance Advisors LLC Sells 14,296 Shares of CareTrust REIT, Inc. (NASDAQ:CTRE)

Farther Finance Advisors LLC decreased its holdings in shares of CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) by 90.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,487 shares of the real estate investment trust's stock after selling 14,296 shares during the period. Farther Finance Advisors LLC's holdings in CareTrust REIT were worth $42,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of CTRE. CIBC Asset Management Inc increased its stake in CareTrust REIT by 37.9% in the 4th quarter. CIBC Asset Management Inc now owns 10,648 shares of the real estate investment trust's stock worth $288,000 after buying an additional 2,926 shares in the last quarter. New York State Common Retirement Fund increased its stake in CareTrust REIT by 22.7% in the 4th quarter. New York State Common Retirement Fund now owns 52,928 shares of the real estate investment trust's stock worth $1,432,000 after buying an additional 9,800 shares in the last quarter. WealthShield Partners LLC increased its stake in CareTrust REIT by 1.0% in the 4th quarter. WealthShield Partners LLC now owns 49,119 shares of the real estate investment trust's stock worth $1,343,000 after buying an additional 490 shares in the last quarter. J. W. Coons Advisors LLC increased its stake in CareTrust REIT by 23.5% in the 4th quarter. J. W. Coons Advisors LLC now owns 8,529 shares of the real estate investment trust's stock worth $231,000 after buying an additional 1,625 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its stake in CareTrust REIT by 5.3% in the 4th quarter. Bank of New York Mellon Corp now owns 2,505,883 shares of the real estate investment trust's stock worth $67,784,000 after buying an additional 126,280 shares in the last quarter. Institutional investors own 87.77% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Wedbush reiterated an "underperform" rating and issued a $26.00 price target on shares of CareTrust REIT in a research note on Friday, March 14th. Deutsche Bank Aktiengesellschaft upgraded CareTrust REIT from a "hold" rating to a "buy" rating and set a $31.00 price target for the company in a research note on Thursday, March 13th. Finally, 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 research note on Monday, June 2nd. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, CareTrust REIT presently has an average rating of "Moderate Buy" and a consensus price target of $31.17.

CareTrust REIT Stock Up 0.1%

CTRE opened at $30.69 on Wednesday. The firm has a 50-day simple moving average of $28.92 and a two-hundred day simple moving average of $27.77. CareTrust REIT, Inc. has a 52 week low of $24.35 and a 52 week high of $33.15. The company has a market capitalization of $5.88 billion, a PE ratio of 38.85, a price-to-earnings-growth ratio of 1.25 and a beta of 0.83. 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 Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be issued a dividend of $0.335 per share. This represents a $1.34 annualized dividend and a dividend yield of 4.37%. The ex-dividend date is Monday, June 30th. CareTrust REIT's dividend payout ratio (DPR) is presently 145.65%.

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.

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