GTS Securities LLC Takes $562,000 Position in CareTrust REIT, Inc. (NASDAQ:CTRE)

GTS Securities LLC purchased a new position in shares of CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 20,783 shares of the real estate investment trust's stock, valued at approximately $562,000.

Several other institutional investors also recently bought and sold shares of the stock. Advantage Trust Co bought a new stake in CareTrust REIT during the 4th quarter valued at approximately $30,000. Blue Trust Inc. lifted its holdings in shares of CareTrust REIT by 50.0% during the 4th quarter. Blue Trust Inc. now owns 1,808 shares of the real estate investment trust's stock worth $49,000 after acquiring an additional 603 shares during the period. Quarry LP raised its position in CareTrust REIT by 463.5% in the fourth 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 bought a new position in shares of CareTrust REIT during the 4th quarter worth approximately $56,000. Finally, Signaturefd LLC boosted its stake in shares of CareTrust REIT by 20.3% in the 4th quarter. Signaturefd LLC now owns 2,628 shares of the real estate investment trust's stock valued at $71,000 after purchasing an additional 443 shares in the last quarter. 87.77% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft upgraded CareTrust REIT from a "hold" rating to a "buy" rating and set a $31.00 target price on the stock in a report on Thursday, March 13th. Royal Bank of Canada reduced their price target on CareTrust REIT from $37.00 to $32.00 and set an "outperform" rating for the company in a research report on Friday, February 21st. Wedbush reiterated an "underperform" rating and set a $26.00 price objective on shares of CareTrust REIT in a research note on Friday, March 14th. Finally, Wells Fargo & Company cut their price objective on CareTrust REIT from $34.00 to $31.00 and set an "overweight" rating for the company in a report on Monday, March 10th. One investment 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. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $31.00.

CareTrust REIT Stock Performance

NASDAQ:CTRE traded up $0.24 on Friday, hitting $28.79. The company's stock had a trading volume of 1,206,130 shares, compared to its average volume of 1,820,196. CareTrust REIT, Inc. has a one year low of $24.35 and a one year high of $33.15. The firm has a market capitalization of $5.52 billion, a P/E ratio of 36.44, a price-to-earnings-growth ratio of 1.25 and a beta of 0.88. The stock has a fifty day moving average of $28.48 and a two-hundred day moving average of $27.88. The company has a current ratio of 3.82, a quick ratio of 3.82 and a debt-to-equity ratio of 0.14.

CareTrust REIT Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were paid a $0.335 dividend. The ex-dividend date of this dividend was Monday, March 31st. This represents a $1.34 dividend on an annualized basis and a yield of 4.66%. This is a positive change from CareTrust REIT's previous quarterly dividend of $0.29. CareTrust REIT's dividend payout ratio is 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.