Financiere des Professionnels Fonds d investissement inc. Purchases Shares of 8,968 CareTrust REIT, Inc. $CTRE

Key Points

• Financiere des Professionnels Fonds d investissement inc. acquired nearly 9,000 shares of CareTrust REIT, Inc. during Q2, totaling approximately $274,000.
• The recent quarterly dividend declared by CareTrust REIT is $0.335 per share, with an annualized yield of 3.9%, to be paid on October 15th.
• CareTrust REIT has seen a rise in price targets from several brokerages, with KeyCorp setting its new target at $36.00, indicating a positive outlook for the stock.

Financiere des Professionnels Fonds d investissement inc. bought a new position in shares of CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 8,968 shares of the real estate investment trust's stock, valued at approximately $274,000.

Several other hedge funds have also added to or reduced their stakes in CTRE. Bank of America Corp DE boosted its position in CareTrust REIT by 3.7% during the 4th quarter. Bank of America Corp DE now owns 406,388 shares of the real estate investment trust's stock worth $10,993,000 after buying an additional 14,550 shares during the period. Cetera Investment Advisers boosted its position in CareTrust REIT by 19.1% during the 4th quarter. Cetera Investment Advisers now owns 32,431 shares of the real estate investment trust's stock worth $877,000 after buying an additional 5,208 shares during the period. Janus Henderson Group PLC boosted its position in CareTrust REIT by 7.2% during the 4th quarter. Janus Henderson Group PLC now owns 68,833 shares of the real estate investment trust's stock worth $1,861,000 after buying an additional 4,600 shares during the period. Quantinno Capital Management LP boosted its position in CareTrust REIT by 2.3% during the 4th quarter. Quantinno Capital Management LP now owns 17,482 shares of the real estate investment trust's stock worth $473,000 after buying an additional 385 shares during the period. Finally, State of Wyoming acquired a new position in shares of CareTrust REIT in the 4th quarter worth approximately $152,000. 87.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Raymond James Financial set a $39.00 price target on shares of CareTrust REIT and gave the stock a "strong-buy" rating in a research report on Tuesday, September 2nd. Wells Fargo & Company boosted their price target on shares of CareTrust REIT from $32.00 to $38.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 27th. KeyCorp boosted their price target on shares of CareTrust REIT from $33.00 to $36.00 and gave the stock an "overweight" rating in a research report on Thursday, August 14th. Finally, Royal Bank Of Canada restated an "outperform" rating on shares of CareTrust REIT in a research report on Monday, August 11th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $33.43.

CareTrust REIT Trading Down 1.0%

Shares of NASDAQ:CTRE traded down $0.36 during mid-day trading on Friday, hitting $34.35. The company had a trading volume of 5,518,124 shares, compared to its average volume of 1,966,817. The firm has a fifty day moving average price of $33.02 and a 200 day moving average price of $30.26. The company has a market capitalization of $7.49 billion, a PE ratio of 43.48, a price-to-earnings-growth 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 one year low of $24.79 and a one year high of $35.08.

CareTrust REIT Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th will be paid a dividend of $0.335 per share. This represents a $1.34 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date is Tuesday, September 30th. CareTrust REIT's payout ratio is 111.67%.

CareTrust REIT 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.