Total Wealth Planning & Management Inc. Buys Shares of 10,700 CareTrust REIT, Inc. $CTRE

Key Points

• Total Wealth Planning & Management Inc. acquired 10,700 shares of CareTrust REIT valued at approximately $327,000 during the 2nd quarter.
• Analysts have given CareTrust REIT a consensus rating of "Moderate Buy" with various price targets, including a high of $39.00 set by Raymond James Financial.
• The company declared a quarterly dividend of $0.335 per share, representing an annualized yield of 4.0% and a payout ratio of 111.67%.

Total Wealth Planning & Management Inc. bought a new stake in shares of CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 10,700 shares of the real estate investment trust's stock, valued at approximately $327,000.

Several other hedge funds have also recently added to or reduced their stakes in CTRE. Wealth Enhancement Advisory Services LLC bought a new stake in CareTrust REIT during the 4th quarter valued at $204,000. GAMMA Investing LLC increased its position in shares of CareTrust REIT by 2,116.7% during the 1st quarter. GAMMA Investing LLC now owns 89,398 shares of the real estate investment trust's stock valued at $2,555,000 after purchasing an additional 85,365 shares during the period. Handelsbanken Fonder AB increased its position in shares of CareTrust REIT by 10.9% during the 1st quarter. Handelsbanken Fonder AB now owns 48,646 shares of the real estate investment trust's stock valued at $1,390,000 after purchasing an additional 4,800 shares during the period. Fifth Third Bancorp increased its position in shares of CareTrust REIT by 217.5% during the 1st quarter. Fifth Third Bancorp now owns 1,978 shares of the real estate investment trust's stock valued at $57,000 after purchasing an additional 1,355 shares during the period. Finally, Sound Income Strategies LLC increased its position in shares of CareTrust REIT by 13.1% during the 1st quarter. Sound Income Strategies LLC now owns 522,829 shares of the real estate investment trust's stock valued at $14,942,000 after purchasing an additional 60,733 shares during the period. Institutional investors own 87.77% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on CTRE shares. Royal Bank Of Canada reiterated an "outperform" rating on shares of CareTrust REIT in a research report on Monday, August 11th. KeyCorp lifted their price target on CareTrust REIT from $33.00 to $36.00 and gave the company an "overweight" rating in a research report on Thursday, August 14th. Wells Fargo & Company lifted their price target on CareTrust REIT from $32.00 to $38.00 and gave the company an "overweight" rating in a research report on Wednesday, August 27th. Raymond James Financial set a $39.00 price target on CareTrust REIT and gave the company a "strong-buy" rating in a research report on Tuesday, September 2nd. Finally, Cantor Fitzgerald assumed coverage on CareTrust REIT in a report on Wednesday, October 1st. They issued a "neutral" rating and a $37.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, CareTrust REIT currently has a consensus rating of "Moderate Buy" and an average price target of $33.88.

CareTrust REIT Stock Performance

Shares of CTRE stock opened at $33.83 on Friday. CareTrust REIT, Inc. has a 1-year low of $24.79 and a 1-year high of $35.68. The company has a current ratio of 3.82, a quick ratio of 3.82 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $7.38 billion, a price-to-earnings ratio of 42.82, a P/E/G ratio of 1.25 and a beta of 0.82. The stock's fifty day simple moving average is $34.04 and its 200-day simple moving average is $30.94.

CareTrust REIT Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be issued a dividend of $0.335 per share. The ex-dividend date is Tuesday, September 30th. This represents a $1.34 dividend on an annualized basis and a dividend yield of 4.0%. CareTrust REIT's payout ratio is currently 111.67%.

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.

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