Hennion & Walsh Asset Management Inc. Boosts Position in CareTrust REIT, Inc. (NASDAQ:CTRE)

Hennion & Walsh Asset Management Inc. boosted its position in shares of CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) by 194.2% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 41,606 shares of the real estate investment trust's stock after purchasing an additional 27,466 shares during the quarter. Hennion & Walsh Asset Management Inc.'s holdings in CareTrust REIT were worth $1,189,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. Advantage Trust Co acquired a new position in shares of CareTrust REIT in the fourth quarter worth $30,000. Blue Trust Inc. raised its holdings in shares of CareTrust REIT by 50.0% in the fourth 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 last quarter. Quarry LP raised its holdings in shares of 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 acquiring an additional 1,525 shares during the last quarter. Glen Eagle Advisors LLC acquired a new position in CareTrust REIT in the fourth quarter valued at $56,000. Finally, Signaturefd LLC increased its stake 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 valued at $71,000 after purchasing an additional 443 shares during the last quarter. 87.77% of the stock is currently owned by hedge funds and other institutional investors.

CareTrust REIT Trading Down 0.3%

Shares of CTRE opened at $29.08 on Friday. The company has a market capitalization of $5.57 billion, a P/E ratio of 36.80, a P/E/G ratio of 1.25 and a beta of 0.83. CareTrust REIT, Inc. has a one year low of $24.35 and a one year high of $33.15. The company has a debt-to-equity ratio of 0.14, a quick ratio of 3.82 and a current ratio of 3.82. The stock has a 50-day moving average price of $28.52 and a 200 day moving average price of $27.82.

CareTrust REIT Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were given a dividend of $0.335 per share. This represents a $1.34 dividend on an annualized basis and a dividend yield of 4.61%. This is a boost from CareTrust REIT's previous quarterly dividend of $0.29. The ex-dividend date of this dividend was Monday, March 31st. CareTrust REIT's dividend payout ratio is presently 145.65%.

Wall Street Analysts Forecast Growth

CTRE has been the subject of several analyst reports. Wells Fargo & Company upped their target price on CareTrust REIT from $31.00 to $32.00 and gave the company an "overweight" rating in a research note on Monday, June 2nd. Wedbush reissued an "underperform" rating and set a $26.00 price target on shares of CareTrust REIT in a research report on Friday, March 14th. Deutsche Bank Aktiengesellschaft raised CareTrust REIT from a "hold" rating to a "buy" rating and set a $31.00 price target for the company in a research report on Thursday, March 13th. Finally, Royal Bank of Canada lowered 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. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $31.17.

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.

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