LPL Financial LLC Purchases 35,253 Shares of CareTrust REIT, Inc. (NASDAQ:CTRE)

Key Points

• LPL Financial LLC increased its holdings in CareTrust REIT by 37.7%, acquiring 35,253 additional shares, bringing its total to 128,675 shares valued at approximately $3.68 million.
• Several analysts have boosted their target prices for CareTrust REIT, with Wells Fargo raising it from $31.00 to $32.00 and KeyCorp from $33.00 to $36.00, indicating a positive outlook on the stock.
• The company recently declared a quarterly dividend of $0.335, resulting in an annualized dividend of $1.34, which corresponds to a dividend yield of 4.0%.

LPL Financial LLC increased its position in shares of CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) by 37.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 128,675 shares of the real estate investment trust's stock after acquiring an additional 35,253 shares during the quarter. LPL Financial LLC owned about 0.07% of CareTrust REIT worth $3,678,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the company. J. W. Coons Advisors LLC raised its stake in shares of CareTrust REIT by 4.1% during the 1st quarter. J. W. Coons Advisors LLC now owns 8,876 shares of the real estate investment trust's stock worth $254,000 after acquiring an additional 347 shares in the last quarter. Quantinno Capital Management LP raised its stake in shares of 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 acquiring an additional 385 shares in the last quarter. Envestnet Portfolio Solutions Inc. grew its position in CareTrust REIT by 4.5% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 10,022 shares of the real estate investment trust's stock worth $286,000 after purchasing an additional 435 shares during the last quarter. GF Fund Management CO. LTD. grew its position in CareTrust REIT by 26.6% during the 1st quarter. GF Fund Management CO. LTD. now owns 3,548 shares of the real estate investment trust's stock worth $101,000 after purchasing an additional 746 shares during the last quarter. Finally, Xponance Inc. grew its position in CareTrust REIT by 6.2% during the 1st quarter. Xponance Inc. now owns 14,203 shares of the real estate investment trust's stock worth $406,000 after purchasing an additional 824 shares during the last quarter. Institutional investors own 87.77% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on CTRE shares. Wells Fargo & Company boosted their target price on shares of CareTrust REIT from $31.00 to $32.00 and gave the stock an "overweight" rating in a research report on Monday, June 2nd. Royal Bank Of Canada reissued an "outperform" rating on shares of CareTrust REIT in a research report on Monday. Finally, KeyCorp boosted their target price on shares of CareTrust REIT from $33.00 to $36.00 and gave the stock an "overweight" rating in a research report on Thursday. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $31.50.

CareTrust REIT Stock Up 0.4%

CTRE stock opened at $33.85 on Friday. The firm's fifty day simple moving average is $30.97 and its 200-day simple moving average is $28.86. The company has a market capitalization of $6.78 billion, a P/E ratio of 42.85, a price-to-earnings-growth ratio of 1.25 and a beta of 0.85. 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 12 month low of $24.79 and a 12 month high of $34.00.

CareTrust REIT Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th were issued a $0.335 dividend. This represents a $1.34 annualized dividend and a dividend yield of 4.0%. The ex-dividend date of this dividend was Monday, June 30th. CareTrust REIT's dividend 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.

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