Teacher Retirement System of Texas Sells 107,943 Shares of CareTrust REIT, Inc. (NASDAQ:CTRE)

Teacher Retirement System of Texas decreased its stake in shares of CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) by 53.5% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. 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 filing with the Securities & Exchange Commission.

Several other hedge funds have also bought and sold shares of CTRE. Vanguard Group Inc. grew its position in CareTrust REIT by 18.5% in the 4th quarter. Vanguard Group Inc. now owns 27,300,633 shares of the real estate investment trust's stock valued at $738,482,000 after purchasing an additional 4,263,097 shares during the period. FMR LLC grew its position in CareTrust REIT by 51.8% in 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 during the period. Raymond James Financial Inc. acquired a new stake in CareTrust REIT in the 4th quarter valued at $49,048,000. Balyasny Asset Management L.P. grew its position in CareTrust REIT by 149.6% in the 4th quarter. Balyasny Asset Management L.P. now owns 2,708,664 shares of the real estate investment trust's stock valued at $73,269,000 after purchasing an additional 1,623,297 shares during the period. Finally, Norges Bank acquired a new stake in CareTrust REIT in the 4th quarter valued at $33,180,000. Institutional investors and hedge funds own 87.77% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Wells Fargo & Company lifted their price objective on shares of CareTrust REIT from $31.00 to $32.00 and gave the stock an "overweight" rating in a report on Monday, June 2nd. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $31.17.

CareTrust REIT Stock Performance

Shares of NASDAQ CTRE traded up $0.09 during mid-day trading on Friday, reaching $30.73. 1,739,650 shares of the company's stock were exchanged, compared to its average volume of 1,853,808. The firm has a market capitalization of $5.89 billion, a price-to-earnings ratio of 38.90, a price-to-earnings-growth ratio of 1.25 and a beta of 0.84. CareTrust REIT, Inc. has a 52 week low of $24.79 and a 52 week high of $33.15. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.82 and a quick ratio of 3.82. The firm has a 50-day moving average price of $29.49 and a two-hundred day moving average price of $28.01.

CareTrust REIT Dividend Announcement

The company 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 $0.335 dividend. This represents a $1.34 dividend on an annualized basis and a yield of 4.36%. The ex-dividend date is Monday, June 30th. CareTrust REIT's dividend payout ratio is currently 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.