Segall Bryant & Hamill LLC Grows Position in CareTrust REIT, Inc. (NASDAQ:CTRE)

Segall Bryant & Hamill LLC grew its position in CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) by 15.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm 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 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. PNC Financial Services Group Inc. lifted its position in CareTrust REIT by 4.9% during 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 acquiring an additional 534 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its position in CareTrust REIT by 114.8% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 77,231 shares of the real estate investment trust's stock worth $2,089,000 after acquiring an additional 41,272 shares during the period. Swiss National Bank lifted its holdings in shares of CareTrust REIT by 9.4% in the fourth quarter. Swiss National Bank now owns 303,349 shares of the real estate investment trust's stock valued at $8,206,000 after buying an additional 26,000 shares during the period. Natixis Advisors LLC lifted its holdings in shares of CareTrust REIT by 17.4% in the fourth quarter. Natixis Advisors LLC now owns 129,821 shares of the real estate investment trust's stock valued at $3,511,000 after buying an additional 19,211 shares during the period. Finally, Corient Private Wealth LLC lifted its holdings in shares of CareTrust REIT by 9.2% in the fourth quarter. Corient Private Wealth LLC now owns 22,481 shares of the real estate investment trust's stock valued at $608,000 after buying an additional 1,903 shares during the period. Hedge funds and other institutional investors own 87.77% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Wells Fargo & Company upped their price target 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 analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $31.17.

CareTrust REIT Trading Up 0.0%

CareTrust REIT stock traded up $0.01 during trading hours on Friday, reaching $30.30. 981,037 shares of the company's stock were exchanged, compared to its average volume of 1,860,437. The firm has a market capitalization of $5.81 billion, a PE ratio of 38.35, a PEG ratio of 1.25 and a beta of 0.84. The firm's 50 day simple moving average is $29.64 and its 200 day simple moving average is $28.15. The company has a quick ratio of 3.82, a current ratio of 3.82 and a debt-to-equity ratio of 0.14. CareTrust REIT, Inc. has a twelve month low of $24.79 and a twelve month high of $33.15.

CareTrust REIT Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th were given a $0.335 dividend. This represents a $1.34 dividend on an annualized basis and a dividend yield of 4.42%. The ex-dividend date was Monday, June 30th. CareTrust REIT's payout ratio is 145.65%.

CareTrust REIT Company 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.