Tributary Capital Management LLC Sells 18,633 Shares of CareTrust REIT, Inc. (NASDAQ:CTRE)

Tributary Capital Management LLC reduced its stake in CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) by 3.5% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 519,231 shares of the real estate investment trust's stock after selling 18,633 shares during the quarter. Tributary Capital Management LLC owned approximately 0.28% of CareTrust REIT worth $14,840,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of 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 purchasing an additional 4,263,097 shares during the period. FMR LLC increased its position in shares of CareTrust REIT by 51.8% during the fourth 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. bought a new stake in shares of CareTrust REIT during the fourth quarter valued at approximately $49,048,000. Balyasny Asset Management L.P. increased its position in shares of 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 valued at $73,269,000 after purchasing an additional 1,623,297 shares during the period. Finally, Norges Bank bought a new stake in shares of CareTrust REIT during the fourth quarter valued at approximately $33,180,000. 87.77% of the stock is currently owned by institutional investors and hedge funds.

CareTrust REIT Trading Up 0.0%

NASDAQ CTRE traded up $0.01 on Friday, reaching $30.30. The company had a trading volume of 981,037 shares, compared to its average volume of 1,852,938. The stock's 50 day moving average is $29.62 and its 200-day moving average is $28.11. The stock has a market cap of $5.81 billion, a price-to-earnings ratio of 38.35, a PEG ratio of 1.25 and a beta of 0.84. 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 52 week low of $24.79 and a 52 week high of $33.15.

CareTrust REIT Dividend Announcement

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

Analyst Ratings Changes

Separately, Wells Fargo & Company upped their price target on CareTrust REIT from $31.00 to $32.00 and gave the company an "overweight" rating in a research 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 issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $31.17.

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.