Pensionfund Sabic Makes New Investment in CareTrust REIT, Inc. $CTRE

Key Points

• Pensionfund Sabic purchased 21,000 shares of CareTrust REIT, Inc. valued at approximately $600,000 during the first quarter of the year.
• Institutional investors own 87.77% of CareTrust REIT's stock, indicating a strong interest among hedge funds in this real estate investment trust.
• CareTrust REIT has recently announced a quarterly dividend of $0.335, resulting in an annualized yield of 3.9% and a payout ratio of 111.67%.

Pensionfund Sabic acquired a new stake in shares of CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) during the first quarter, according to its most recent filing with the SEC. The fund acquired 21,000 shares of the real estate investment trust's stock, valued at approximately $600,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Fifth Third Bancorp raised its stake in shares of 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 purchasing an additional 1,355 shares during the period. Twin Tree Management LP bought a new position in CareTrust REIT in the 1st quarter worth about $58,000. Glen Eagle Advisors LLC bought a new position in CareTrust REIT in the 4th quarter worth about $56,000. GF Fund Management CO. LTD. bought a new position in CareTrust REIT in the 4th quarter worth about $76,000. Finally, Pandora Wealth Inc. bought a new position in CareTrust REIT in the 1st quarter worth about $120,000. 87.77% of the stock is currently owned by institutional investors.

CareTrust REIT Stock Down 0.5%

Shares of NASDAQ:CTRE traded down $0.17 during trading on Friday, hitting $34.54. The stock had a trading volume of 493,790 shares, compared to its average volume of 1,938,444. CareTrust REIT, Inc. has a 12 month low of $24.79 and a 12 month high of $35.08. 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 company has a market capitalization of $7.53 billion, a PE ratio of 43.73, a PEG ratio of 1.25 and a beta of 0.84. The firm's fifty day moving average is $32.94 and its 200 day moving average is $30.20.

CareTrust REIT Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be given a dividend of $0.335 per share. This represents a $1.34 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date of this dividend is Tuesday, September 30th. CareTrust REIT's dividend payout ratio (DPR) is 111.67%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on CTRE shares. KeyCorp upped their target price on CareTrust REIT from $33.00 to $36.00 and gave the stock an "overweight" rating in a research note on Thursday, August 14th. Raymond James Financial set a $39.00 target price on CareTrust REIT and gave the stock a "strong-buy" rating in a research note on Tuesday, September 2nd. Royal Bank Of Canada restated an "outperform" rating on shares of CareTrust REIT in a research note on Monday, August 11th. Finally, Wells Fargo & Company upped their target price on CareTrust REIT from $32.00 to $38.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 27th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $33.43.

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.