Mirae Asset Global Investments Co. Ltd. Sells 8,507 Shares of CareTrust REIT, Inc. (NASDAQ:CTRE)

Mirae Asset Global Investments Co. Ltd. lessened its stake in shares of CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) by 62.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,060 shares of the real estate investment trust's stock after selling 8,507 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in CareTrust REIT were worth $147,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Quarry LP grew its stake in CareTrust REIT by 463.5% during the 4th quarter. Quarry LP now owns 1,854 shares of the real estate investment trust's stock valued at $50,000 after acquiring an additional 1,525 shares in the last quarter. Glen Eagle Advisors LLC purchased a new position in CareTrust REIT during the 4th quarter valued at about $56,000. Fifth Third Bancorp grew its stake in CareTrust REIT by 217.5% during the 1st quarter. Fifth Third Bancorp now owns 1,978 shares of the real estate investment trust's stock valued at $57,000 after acquiring an additional 1,355 shares in the last quarter. Signaturefd LLC grew its stake in CareTrust REIT by 20.3% during the 4th quarter. Signaturefd LLC now owns 2,628 shares of the real estate investment trust's stock valued at $71,000 after acquiring an additional 443 shares in the last quarter. Finally, GF Fund Management CO. LTD. purchased a new position in CareTrust REIT during the 4th quarter valued at about $76,000. Institutional investors and hedge funds own 87.77% of the company's stock.

Wall Street Analysts Forecast Growth

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

CareTrust REIT Stock Performance

CareTrust REIT stock traded down $0.19 during trading hours on Monday, reaching $31.01. 1,668,797 shares of the company were exchanged, compared to its average volume of 1,824,921. The firm has a market cap of $5.94 billion, a price-to-earnings ratio of 39.25, a PEG ratio of 1.25 and a beta of 0.84. The company has a current ratio of 3.82, a quick ratio of 3.82 and a debt-to-equity ratio of 0.14. 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 12 month low of $24.79 and a 12 month high of $33.15.

CareTrust REIT Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be given a dividend of $0.335 per share. The ex-dividend date is Monday, June 30th. This represents a $1.34 dividend on an annualized basis and a yield of 4.32%. CareTrust REIT's payout ratio is currently 145.65%.

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.