CareTrust REIT, Inc. $CTRE Shares Sold by Russell Investments Group Ltd.

Key Points

• Russell Investments Group Ltd. has significantly reduced its holdings in CareTrust REIT by 61.6%, selling over 1.1 million shares during the first quarter, now owning approximately 688,218 shares worth $19.67 million.
• Multiple institutional investors have increased their stakes in CareTrust REIT, with Quarry LP raising its position by 463.5% and Fifth Third Bancorp increasing its stake by 217.5% in the same quarter.
• Analysts maintain a consensus rating of "Moderate Buy" for CareTrust REIT, with a target price of $31.50, while Wells Fargo raised their target from $31.00 to $32.00.

Russell Investments Group Ltd. reduced its holdings in shares of CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) by 61.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 688,218 shares of the real estate investment trust's stock after selling 1,106,174 shares during the quarter. Russell Investments Group Ltd. owned 0.36% of CareTrust REIT worth $19,669,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the business. Quarry LP lifted its holdings in shares of 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 acquired a new position in shares of CareTrust REIT during the fourth quarter worth about $56,000. Fifth Third Bancorp boosted its position in shares of CareTrust REIT by 217.5% in the first quarter. Fifth Third Bancorp now owns 1,978 shares of the real estate investment trust's stock worth $57,000 after buying an additional 1,355 shares during the period. GF Fund Management CO. LTD. purchased a new stake in shares of CareTrust REIT in the fourth quarter worth about $76,000. Finally, Pandora Wealth Inc. acquired a new stake in shares of CareTrust REIT in the first quarter valued at about $120,000. Institutional investors and hedge funds own 87.77% of the company's stock.

CareTrust REIT Stock Up 1.3%

Shares of CTRE stock traded up $0.4460 during trading hours on Wednesday, hitting $34.2960. 2,664,226 shares of the company were exchanged, compared to its average volume of 1,964,758. The stock has a market capitalization of $6.87 billion, a price-to-earnings ratio of 43.41, a P/E/G ratio of 1.25 and a beta of 0.85. CareTrust REIT, Inc. has a one year low of $24.79 and a one year high of $34.50. The business's 50-day simple moving average is $31.16 and its two-hundred day simple moving average is $28.98. 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 Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th were given a $0.335 dividend. The ex-dividend date was Monday, June 30th. This represents a $1.34 annualized dividend and a dividend yield of 3.9%. CareTrust REIT's dividend payout ratio (DPR) is presently 111.67%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on CTRE shares. KeyCorp boosted their price target on CareTrust REIT from $33.00 to $36.00 and gave the stock an "overweight" rating in a research report on Thursday, August 14th. Wells Fargo & Company lifted their price objective on shares of CareTrust REIT from $31.00 to $32.00 and gave the company an "overweight" rating in a research note on Monday, June 2nd. Finally, Royal Bank Of Canada reissued an "outperform" rating on shares of CareTrust REIT in a research report on Monday, August 11th. Four investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, CareTrust REIT has an average rating of "Moderate Buy" and a consensus target price of $31.50.

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.