Lightrock Netherlands B.V. Acquires 68,485 Shares of CareTrust REIT, Inc. (NASDAQ:CTRE)

Lightrock Netherlands B.V. grew its holdings in shares of CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) by 49.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 206,605 shares of the real estate investment trust's stock after acquiring an additional 68,485 shares during the period. Lightrock Netherlands B.V. owned 0.11% of CareTrust REIT worth $5,915,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Quantinno Capital Management LP increased its stake in shares of CareTrust REIT by 2.3% in the 4th quarter. Quantinno Capital Management LP now owns 17,482 shares of the real estate investment trust's stock valued at $473,000 after acquiring an additional 385 shares in the last quarter. Envestnet Portfolio Solutions Inc. raised its holdings in shares of CareTrust REIT by 4.5% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 10,022 shares of the real estate investment trust's stock valued at $286,000 after purchasing an additional 435 shares during the period. Signaturefd LLC boosted its position in shares of CareTrust REIT by 20.3% during the 4th quarter. Signaturefd LLC now owns 2,628 shares of the real estate investment trust's stock worth $71,000 after purchasing an additional 443 shares in the last quarter. PNC Financial Services Group Inc. boosted its position in shares of CareTrust REIT by 4.9% during the 4th quarter. PNC Financial Services Group Inc. now owns 11,384 shares of the real estate investment trust's stock worth $308,000 after purchasing an additional 534 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC grew its stake in shares of CareTrust REIT by 5.4% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 11,777 shares of the real estate investment trust's stock valued at $319,000 after buying an additional 601 shares during the period. 87.77% of the stock is currently owned by institutional investors and hedge funds.

CareTrust REIT Stock Up 1.6%

Shares of CareTrust REIT stock traded up $0.50 on Friday, hitting $31.20. The company had a trading volume of 771,576 shares, compared to its average volume of 1,825,549. The stock has a 50 day moving average of $29.29 and a 200-day moving average of $27.89. CareTrust REIT, Inc. has a 1 year low of $24.79 and a 1 year high of $33.15. The stock has a market capitalization of $5.98 billion, a price-to-earnings ratio of 39.49, a P/E/G ratio of 1.25 and a beta of 0.84. The company has a debt-to-equity ratio of 0.14, a quick ratio of 3.82 and a current ratio of 3.82.

CareTrust REIT Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be given a $0.335 dividend. This represents a $1.34 dividend on an annualized basis and a yield of 4.29%. The ex-dividend date is Monday, June 30th. CareTrust REIT's payout ratio is 145.65%.

Analyst Ratings Changes

CTRE has been the topic of several recent research reports. 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 report on Monday, June 2nd. Wedbush reiterated an "underperform" rating and issued a $26.00 target price on shares of CareTrust REIT in a report on Friday, March 14th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of 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. One equities 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 company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $31.17.

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.