Two Sigma Advisers LP Buys 991,400 Shares of CareTrust REIT, Inc. (NASDAQ:CTRE)

Two Sigma Advisers LP lifted its stake in CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) by 70.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,388,900 shares of the real estate investment trust's stock after acquiring an additional 991,400 shares during the quarter. Two Sigma Advisers LP owned 1.39% of CareTrust REIT worth $64,620,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Two Sigma Investments LP grew its stake in shares of CareTrust REIT by 61.6% in the fourth quarter. Two Sigma Investments LP now owns 2,008,837 shares of the real estate investment trust's stock worth $54,339,000 after acquiring an additional 766,073 shares during the period. State of Wyoming bought a new stake in shares of CareTrust REIT in the fourth quarter worth approximately $152,000. ProShare Advisors LLC grew its stake in shares of CareTrust REIT by 20.6% in the fourth quarter. ProShare Advisors LLC now owns 318,080 shares of the real estate investment trust's stock worth $8,604,000 after acquiring an additional 54,396 shares during the period. Quantinno Capital Management LP grew its stake in shares of CareTrust REIT by 2.3% in the fourth quarter. Quantinno Capital Management LP now owns 17,482 shares of the real estate investment trust's stock worth $473,000 after acquiring an additional 385 shares during the period. Finally, Nissay Asset Management Corp Japan ADV grew its stake in shares of CareTrust REIT by 25.4% in the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 27,441 shares of the real estate investment trust's stock worth $743,000 after acquiring an additional 5,555 shares during the period. 87.77% of the stock is currently owned by institutional investors.

CareTrust REIT Stock Performance

CTRE opened at $29.38 on Tuesday. The company has a current ratio of 3.82, a quick ratio of 3.82 and a debt-to-equity ratio of 0.14. CareTrust REIT, Inc. has a 12-month low of $24.35 and a 12-month high of $33.15. The company has a market cap of $5.63 billion, a price-to-earnings ratio of 37.19, a PEG ratio of 1.25 and a beta of 0.88. The company's 50 day moving average is $28.47 and its 200 day moving average is $27.95.

CareTrust REIT Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were issued a dividend of $0.335 per share. The ex-dividend date was Monday, March 31st. This represents a $1.34 annualized dividend and a yield of 4.56%. This is an increase from CareTrust REIT's previous quarterly dividend of $0.29. CareTrust REIT's payout ratio is currently 145.65%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on CTRE shares. Royal Bank of Canada reduced their price target on shares of CareTrust REIT from $37.00 to $32.00 and set an "outperform" rating for the company in a research note on Friday, February 21st. Deutsche Bank Aktiengesellschaft raised shares of CareTrust REIT from a "hold" rating to a "buy" rating and set a $31.00 price objective on the stock in a report on Thursday, March 13th. Wedbush reissued an "underperform" rating and issued a $26.00 price objective on shares of CareTrust REIT in a report on Friday, March 14th. Finally, Wells Fargo & Company dropped their price objective on shares of CareTrust REIT from $34.00 to $31.00 and set an "overweight" rating on the stock in a report on Monday, March 10th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $31.00.

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.

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