CareTrust REIT, Inc. (NASDAQ:CTRE) Shares Sold by Teacher Retirement System of Texas

Teacher Retirement System of Texas lowered its holdings in CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) by 53.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 93,769 shares of the real estate investment trust's stock after selling 107,943 shares during the quarter. Teacher Retirement System of Texas' holdings in CareTrust REIT were worth $2,680,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of CTRE. Vanguard Group Inc. raised its position in CareTrust REIT by 18.5% during the fourth quarter. Vanguard Group Inc. now owns 27,300,633 shares of the real estate investment trust's stock valued at $738,482,000 after acquiring an additional 4,263,097 shares in the last quarter. FMR LLC increased its holdings in shares of CareTrust REIT by 51.8% during the 4th quarter. FMR LLC now owns 7,932,946 shares of the real estate investment trust's stock valued at $214,586,000 after purchasing an additional 2,708,050 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of CareTrust REIT by 23.8% in the 4th quarter. Geode Capital Management LLC now owns 4,620,274 shares of the real estate investment trust's stock valued at $125,006,000 after purchasing an additional 887,665 shares during the period. Balyasny Asset Management L.P. boosted its holdings in CareTrust REIT by 149.6% during the fourth quarter. Balyasny Asset Management L.P. now owns 2,708,664 shares of the real estate investment trust's stock worth $73,269,000 after buying an additional 1,623,297 shares in the last quarter. Finally, Northern Trust Corp grew its position in CareTrust REIT by 45.1% during the fourth quarter. Northern Trust Corp now owns 2,469,640 shares of the real estate investment trust's stock valued at $66,804,000 after buying an additional 767,640 shares during the period. Hedge funds and other institutional investors own 87.77% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on CTRE shares. Wells Fargo & Company increased their target price on shares of CareTrust REIT from $31.00 to $32.00 and gave the stock an "overweight" rating in a research note on Monday, June 2nd. Deutsche Bank Aktiengesellschaft upgraded CareTrust REIT from a "hold" rating to a "buy" rating and set a $31.00 price target on the stock in a research report on Thursday, March 13th. Finally, Wedbush reaffirmed an "underperform" rating and set a $26.00 target price on shares of CareTrust REIT in a research note on Friday, March 14th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $31.17.

CareTrust REIT Price Performance

Shares of NASDAQ:CTRE traded up $0.09 during trading on Friday, reaching $30.73. The stock had a trading volume of 1,739,650 shares, compared to its average volume of 1,851,316. 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, Inc. has a 1-year low of $24.79 and a 1-year high of $33.15. The stock has a market cap of $5.89 billion, a PE ratio of 38.90, a PEG ratio of 1.25 and a beta of 0.84. The business has a fifty day moving average price of $29.49 and a 200-day moving average price of $28.01.

CareTrust REIT Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be paid a dividend of $0.335 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $1.34 annualized dividend and a yield of 4.36%. CareTrust REIT's dividend payout ratio is presently 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.