Fox Run Management L.L.C. Purchases New Holdings in CareTrust REIT, Inc. $CTRE

Key Points

• Fox Run Management L.L.C. has invested approximately $832,000 to acquire 29,110 shares in CareTrust REIT, Inc. as part of its 1st quarter filing with the SEC.
• CareTrust REIT recently declared a quarterly dividend of $0.335 per share, resulting in an annualized dividend of $1.34 and a yield of 4.0%.
• Research analysts have given CareTrust REIT an average rating of "Moderate Buy," with a consensus target price of $31.50.

Fox Run Management L.L.C. purchased a new stake in shares of CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 29,110 shares of the real estate investment trust's stock, valued at approximately $832,000.

A number of other institutional investors have also recently added to or reduced their stakes in CTRE. Nuveen LLC purchased a new stake in CareTrust REIT during the first quarter valued at about $49,049,000. Balyasny Asset Management L.P. grew its position in CareTrust REIT by 149.6% during the fourth quarter. Balyasny Asset Management L.P. now owns 2,708,664 shares of the real estate investment trust's stock valued at $73,269,000 after acquiring an additional 1,623,297 shares during the period. Vanguard Group Inc. grew its position in CareTrust REIT by 4.9% during the first quarter. Vanguard Group Inc. now owns 28,636,981 shares of the real estate investment trust's stock valued at $818,445,000 after acquiring an additional 1,336,348 shares during the period. Jupiter Asset Management Ltd. grew its position in CareTrust REIT by 5,756.5% during the first quarter. Jupiter Asset Management Ltd. now owns 1,181,431 shares of the real estate investment trust's stock valued at $33,765,000 after acquiring an additional 1,161,258 shares during the period. Finally, Nuveen Asset Management LLC grew its position in CareTrust REIT by 75.8% during the fourth quarter. Nuveen Asset Management LLC now owns 2,395,809 shares of the real estate investment trust's stock valued at $64,807,000 after acquiring an additional 1,032,848 shares during the period. Hedge funds and other institutional investors own 87.77% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on CTRE shares. Wells Fargo & Company upped their target price on CareTrust REIT from $31.00 to $32.00 and gave the stock an "overweight" rating in a research report on Monday, June 2nd. KeyCorp upped their target price on 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 reaffirmed an "outperform" rating on shares of CareTrust REIT in a research report on Monday, August 11th. Four research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $31.50.

CareTrust REIT Stock Up 1.0%

Shares of NASDAQ CTRE traded up $0.3310 on Wednesday, hitting $34.1810. The company had a trading volume of 1,295,117 shares, compared to its average volume of 1,955,414. The firm has a market capitalization of $6.85 billion, a P/E ratio of 43.23, a PEG ratio of 1.25 and a beta of 0.85. CareTrust REIT, Inc. has a 12-month low of $24.79 and a 12-month high of $34.34. 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 50 day moving average of $31.16 and a two-hundred day moving average of $28.98.

CareTrust REIT Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 30th were issued a $0.335 dividend. The ex-dividend date of this dividend was Monday, June 30th. This represents a $1.34 dividend on an annualized basis and a yield of 3.9%. CareTrust REIT's dividend payout ratio is currently 111.67%.

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.