State of Alaska Department of Revenue Purchases 10,550 Shares of CareTrust REIT, Inc. $CTRE

Key Points

• The State of Alaska Department of Revenue increased its holdings in CareTrust REIT by 5.4%, acquiring an additional 10,550 shares and bringing its total ownership to 205,697 shares, valued at approximately $6.3 million.
• CareTrust REIT announced a quarterly dividend of $0.335, which will be paid on October 15, representing an annualized dividend yield of 3.9%.
• Analysts have given CareTrust REIT a consensus rating of "Moderate Buy", with four analysts rating it as Buy, one as Hold, and one as Sell, while several firms have set target prices between $32.00 and $39.00.

State of Alaska Department of Revenue boosted its position in shares of CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) by 5.4% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 205,697 shares of the real estate investment trust's stock after purchasing an additional 10,550 shares during the period. State of Alaska Department of Revenue owned about 0.11% of CareTrust REIT worth $6,292,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Parallel Advisors LLC lifted its holdings in CareTrust REIT by 109.5% during the 2nd quarter. Parallel Advisors LLC now owns 1,100 shares of the real estate investment trust's stock valued at $34,000 after purchasing an additional 575 shares during the last quarter. Fifth Third Bancorp raised its stake 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 acquiring an additional 1,355 shares during the last quarter. Twin Tree Management LP bought a new position in shares of CareTrust REIT in the first quarter worth about $58,000. GF Fund Management CO. LTD. raised its stake in shares of CareTrust REIT by 26.6% in the first quarter. GF Fund Management CO. LTD. now owns 3,548 shares of the real estate investment trust's stock worth $101,000 after acquiring an additional 746 shares during the last quarter. Finally, Pandora Wealth Inc. bought a new position in shares of CareTrust REIT in the first quarter worth about $120,000. 87.77% of the stock is owned by institutional investors.

CareTrust REIT Stock Up 0.9%

CareTrust REIT stock opened at $34.76 on Monday. The stock has a market capitalization of $7.58 billion, a PE ratio of 44.00, a price-to-earnings-growth ratio of 1.25 and a beta of 0.84. The company has a 50 day moving average of $33.40 and a 200-day moving average of $30.60. CareTrust REIT, Inc. has a twelve month low of $24.79 and a twelve month high of $35.18. 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 Announces Dividend

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

Analyst Upgrades and Downgrades

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

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