CareTrust REIT, Inc. $CTRE Stock Position Increased by Truvestments Capital LLC

Key Points

• Truvestments Capital LLC increased its stake in CareTrust REIT by 41.5% during the first quarter, owning 170,763 shares worth approximately $4,880,000.
• CareTrust REIT recently declared a quarterly dividend of $0.335, resulting in an annualized dividend yield of 3.9% with a dividend payout ratio of 111.67%.
• Notable institutional investors, including Vanguard Group and Jupiter Asset Management Ltd., significantly increased their stakes, reflecting strong interest in CareTrust REIT among hedge funds and institutional investors.

Truvestments Capital LLC lifted its position in CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) by 41.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 170,763 shares of the real estate investment trust's stock after acquiring an additional 50,098 shares during the quarter. CareTrust REIT accounts for approximately 1.1% of Truvestments Capital LLC's holdings, making the stock its 15th largest position. Truvestments Capital LLC owned 0.09% of CareTrust REIT worth $4,880,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Quarry LP grew its position in shares of CareTrust REIT by 463.5% in the 4th quarter. Quarry LP now owns 1,854 shares of the real estate investment trust's stock worth $50,000 after acquiring an additional 1,525 shares in the last quarter. Fifth Third Bancorp grew its position in shares of CareTrust REIT by 217.5% in the 1st quarter. Fifth Third Bancorp now owns 1,978 shares of the real estate investment trust's stock worth $57,000 after acquiring an additional 1,355 shares in the last quarter. Glen Eagle Advisors LLC acquired a new position in shares of CareTrust REIT in the 4th quarter worth approximately $56,000. GF Fund Management CO. LTD. acquired a new position in shares of CareTrust REIT in the 4th quarter worth approximately $76,000. Finally, Pandora Wealth Inc. acquired a new position in shares of CareTrust REIT in the 1st quarter worth approximately $120,000. Institutional investors and hedge funds own 87.77% of the company's stock.

CareTrust REIT Stock Performance

CTRE stock traded down $0.06 during trading on Monday, reaching $34.40. 2,124,496 shares of the company's stock were exchanged, compared to its average volume of 1,956,533. 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 1-year low of $24.79 and a 1-year high of $34.92. The company's fifty day moving average price is $31.99 and its 200-day moving average price is $29.45. The firm has a market cap of $7.50 billion, a PE ratio of 43.54, a P/E/G ratio of 1.25 and a beta of 0.85.

CareTrust REIT Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th were paid a $0.335 dividend. This represents a $1.34 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date of this dividend was Monday, June 30th. CareTrust REIT's payout ratio is currently 111.67%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on CTRE shares. Wells Fargo & Company boosted their price objective on CareTrust REIT from $32.00 to $38.00 and gave the company an "overweight" rating in a research report on Wednesday, August 27th. Royal Bank Of Canada restated an "outperform" rating on shares of CareTrust REIT in a research report on Monday, August 11th. Finally, KeyCorp boosted their price objective on CareTrust REIT from $33.00 to $36.00 and gave the company an "overweight" rating in a research report on Thursday, August 14th. Four research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, CareTrust REIT has a consensus rating of "Moderate Buy" and a consensus target price of $32.50.

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.