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

Tributary Capital Management LLC cut its position in shares of CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) by 3.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (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 0.28% of CareTrust REIT worth $14,840,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in CTRE. Vanguard Group Inc. raised its stake in CareTrust REIT by 18.5% during 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 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 acquiring an additional 2,708,050 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of CareTrust REIT by 23.8% during 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 buying an additional 887,665 shares during the last quarter. Balyasny Asset Management L.P. increased its stake in shares of CareTrust REIT by 149.6% during the 4th 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 purchasing an additional 1,623,297 shares during the last quarter. Finally, Northern Trust Corp lifted its stake in shares of CareTrust REIT by 45.1% in the 4th quarter. Northern Trust Corp now owns 2,469,640 shares of the real estate investment trust's stock valued at $66,804,000 after purchasing an additional 767,640 shares during the last quarter. 87.77% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Wells Fargo & Company raised their price target on shares of CareTrust REIT from $31.00 to $32.00 and gave the company an "overweight" rating in a report on Monday, June 2nd. One 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. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $31.17.

CareTrust REIT Trading Up 0.0%

CareTrust REIT stock traded up $0.01 during mid-day trading on Friday, hitting $30.30. 981,037 shares of the stock were exchanged, compared to its average volume of 1,860,437. CareTrust REIT, Inc. has a 12 month low of $24.79 and a 12 month high of $33.15. The company has a quick ratio of 3.82, a current ratio of 3.82 and a debt-to-equity ratio of 0.14. The firm's fifty day simple moving average is $29.64 and its two-hundred day simple moving average is $28.15. The stock has a market capitalization of $5.81 billion, a price-to-earnings ratio of 38.35, a PEG ratio of 1.25 and a beta of 0.84.

CareTrust REIT Announces Dividend

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

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.