New Age Alpha Advisors LLC Has $9.80 Million Position in CareTrust REIT, Inc. (NASDAQ:CTRE)

Key Points

• New Age Alpha Advisors LLC increased its stake in CareTrust REIT by 28.2%, owning 342,764 shares valued at approximately $9.80 million as of the latest SEC filing.
• Institutional investors and hedge funds collectively own 87.77% of CareTrust REIT, with significant increases in holdings from firms such as FMR LLC and Balyasny Asset Management.
• Wells Fargo raised its price target on CareTrust REIT shares from $31.00 to $32.00, while the stock has a consensus rating of "Moderate Buy" and a current price of $32.87.

New Age Alpha Advisors LLC grew its stake in CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) by 28.2% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 342,764 shares of the real estate investment trust's stock after purchasing an additional 75,349 shares during the period. New Age Alpha Advisors LLC owned about 0.18% of CareTrust REIT worth $9,796,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. FMR LLC raised its holdings in CareTrust REIT by 51.8% in the 4th quarter. FMR LLC now owns 7,932,946 shares of the real estate investment trust's stock valued at $214,586,000 after buying an additional 2,708,050 shares during the last quarter. Raymond James Financial Inc. bought a new position in CareTrust REIT in the 4th quarter valued at approximately $49,048,000. Balyasny Asset Management L.P. raised its holdings in CareTrust REIT by 149.6% in the 4th quarter. Balyasny Asset Management L.P. now owns 2,708,664 shares of the real estate investment trust's stock valued at $73,269,000 after buying an additional 1,623,297 shares during the last quarter. Jupiter Asset Management Ltd. raised its holdings in CareTrust REIT by 5,756.5% in the 1st quarter. Jupiter Asset Management Ltd. now owns 1,181,431 shares of the real estate investment trust's stock valued at $33,765,000 after buying an additional 1,161,258 shares during the last quarter. Finally, Nuveen Asset Management LLC raised its holdings in CareTrust REIT by 75.8% in the 4th quarter. Nuveen Asset Management LLC now owns 2,395,809 shares of the real estate investment trust's stock valued at $64,807,000 after buying an additional 1,032,848 shares during the last quarter. 87.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Wells Fargo & Company raised their price target on shares of CareTrust REIT from $31.00 to $32.00 and gave the stock an "overweight" rating in a report on Monday, June 2nd. One 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. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $31.17.

CareTrust REIT Stock Performance

Shares of CTRE stock opened at $32.87 on Tuesday. The company has a market cap of $6.30 billion, a price-to-earnings ratio of 41.60, a price-to-earnings-growth ratio of 1.25 and a beta of 0.85. CareTrust REIT, Inc. has a 52 week low of $24.79 and a 52 week high of $33.15. The company has a quick ratio of 3.82, a current ratio of 3.82 and a debt-to-equity ratio of 0.14. The firm has a 50 day moving average of $30.22 and a 200-day moving average of $28.51.

CareTrust REIT Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th were given a dividend of $0.335 per share. The ex-dividend date of this dividend was Monday, June 30th. This represents a $1.34 annualized dividend and a dividend yield of 4.1%. CareTrust REIT's dividend payout ratio (DPR) is 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.