Truvestments Capital LLC Has $4.88 Million Stock Position in CareTrust REIT, Inc. $CTRE

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 stake in CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) by 41.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 170,763 shares of the real estate investment trust's stock after buying an additional 50,098 shares during the period. CareTrust REIT makes up approximately 1.1% of Truvestments Capital LLC's investment portfolio, making the stock its 15th biggest position. Truvestments Capital LLC owned about 0.09% of CareTrust REIT worth $4,880,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Allspring Global Investments Holdings LLC boosted its stake in shares of CareTrust REIT by 21.8% in the first quarter. Allspring Global Investments Holdings LLC now owns 86,776 shares of the real estate investment trust's stock valued at $2,471,000 after buying an additional 15,523 shares during the period. Principal Financial Group Inc. boosted its stake in shares of CareTrust REIT by 3.0% in the first quarter. Principal Financial Group Inc. now owns 1,066,093 shares of the real estate investment trust's stock valued at $30,469,000 after buying an additional 31,279 shares during the period. KBC Group NV boosted its stake in shares of CareTrust REIT by 33.6% in the first quarter. KBC Group NV now owns 7,448 shares of the real estate investment trust's stock valued at $213,000 after buying an additional 1,875 shares during the period. Cambridge Investment Research Advisors Inc. boosted its stake in shares of CareTrust REIT by 8.1% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 48,495 shares of the real estate investment trust's stock valued at $1,386,000 after buying an additional 3,626 shares during the period. Finally, Asset Management One Co. Ltd. boosted its stake in shares of CareTrust REIT by 4.0% in the first quarter. Asset Management One Co. Ltd. now owns 416,091 shares of the real estate investment trust's stock valued at $11,892,000 after buying an additional 16,008 shares during the period. 87.77% of the stock is currently owned by institutional investors.

CareTrust REIT Price Performance

CareTrust REIT stock traded down $0.06 during mid-day trading on Friday, reaching $34.40. The company had a trading volume of 2,124,496 shares, compared to its average volume of 1,956,533. CareTrust REIT, Inc. has a fifty-two week low of $24.79 and a fifty-two week high of $34.92. 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 cap of $7.50 billion, a P/E ratio of 43.54, a P/E/G ratio of 1.25 and a beta of 0.85. The business has a fifty day simple moving average of $31.99 and a 200 day simple moving average of $29.41.

CareTrust REIT Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th were given 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 3.9%. CareTrust REIT's dividend payout ratio (DPR) is currently 111.67%.

Analyst Ratings Changes

Several research firms recently issued reports on CTRE. Royal Bank Of Canada reiterated an "outperform" rating on shares of CareTrust REIT in a research report on Monday, August 11th. Wells Fargo & Company increased their price target on shares of CareTrust REIT from $32.00 to $38.00 and gave the stock an "overweight" rating in a research report on Wednesday. Finally, KeyCorp increased their price target on shares of CareTrust REIT from $33.00 to $36.00 and gave the stock an "overweight" rating in a research report on Thursday, August 14th. Four investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, CareTrust REIT presently has an average rating of "Moderate Buy" and an average price target 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.