Segall Bryant & Hamill LLC Purchases 71,190 Shares of CareTrust REIT, Inc. (NASDAQ:CTRE)

Segall Bryant & Hamill LLC increased its position in CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) by 15.1% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 541,447 shares of the real estate investment trust's stock after acquiring an additional 71,190 shares during the quarter. Segall Bryant & Hamill LLC owned about 0.29% of CareTrust REIT worth $15,475,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the company. Quantinno Capital Management LP increased its holdings in CareTrust REIT by 2.3% in 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 during the last quarter. Envestnet Portfolio Solutions Inc. boosted its stake in CareTrust REIT by 4.5% in 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 period. Signaturefd LLC boosted its stake in CareTrust REIT by 20.3% in the 4th quarter. Signaturefd LLC now owns 2,628 shares of the real estate investment trust's stock worth $71,000 after purchasing an additional 443 shares during the period. PNC Financial Services Group Inc. boosted its stake in CareTrust REIT by 4.9% in the 4th quarter. PNC Financial Services Group Inc. now owns 11,384 shares of the real estate investment trust's stock worth $308,000 after purchasing an additional 534 shares during the period. Finally, O Shaughnessy Asset Management LLC boosted its stake in CareTrust REIT by 5.4% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 11,777 shares of the real estate investment trust's stock worth $319,000 after purchasing an additional 601 shares during the period. Hedge funds and other institutional investors own 87.77% of the company's stock.

Analysts Set New Price Targets

Separately, Wells Fargo & Company raised their target price on CareTrust REIT from $31.00 to $32.00 and gave the stock an "overweight" rating in a research note on Monday, June 2nd. One research analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $31.17.

CareTrust REIT Price Performance

NASDAQ CTRE traded up $0.01 during trading hours on Friday, hitting $30.30. The company had a trading volume of 981,037 shares, compared to its average volume of 1,852,938. CareTrust REIT, Inc. has a 52 week low of $24.79 and a 52 week high of $33.15. The firm has a 50 day simple moving average of $29.62 and a 200 day simple moving average of $28.11. The company has a debt-to-equity ratio of 0.14, a quick ratio of 3.82 and a current ratio of 3.82. The firm has a market capitalization of $5.81 billion, a price-to-earnings ratio of 38.35, a PEG ratio of 1.25 and a beta of 0.84.

CareTrust REIT Dividend Announcement

The firm also recently declared 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 was Monday, June 30th. This represents a $1.34 dividend on an annualized basis and a dividend yield of 4.42%. CareTrust REIT's dividend payout ratio (DPR) is presently 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.