Two Sigma Advisers LP Raises Stake in CareTrust REIT, Inc. (NASDAQ:CTRE)

Two Sigma Advisers LP raised its stake in CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) by 70.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,388,900 shares of the real estate investment trust's stock after buying an additional 991,400 shares during the period. Two Sigma Advisers LP owned about 1.39% of CareTrust REIT worth $64,620,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Advantage Trust Co bought a new position in shares of CareTrust REIT in the 4th quarter worth $30,000. Blue Trust Inc. grew its holdings in shares of CareTrust REIT by 50.0% during the 4th quarter. Blue Trust Inc. now owns 1,808 shares of the real estate investment trust's stock valued at $49,000 after purchasing an additional 603 shares during the last quarter. Quarry LP grew its holdings in shares of CareTrust REIT by 463.5% during the 4th quarter. Quarry LP now owns 1,854 shares of the real estate investment trust's stock valued at $50,000 after purchasing an additional 1,525 shares during the last quarter. Signaturefd LLC grew its holdings in shares of CareTrust REIT by 20.3% during the 4th quarter. Signaturefd LLC now owns 2,628 shares of the real estate investment trust's stock valued at $71,000 after purchasing an additional 443 shares during the last quarter. Finally, Smartleaf Asset Management LLC grew its holdings in shares of CareTrust REIT by 56.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 5,032 shares of the real estate investment trust's stock valued at $135,000 after purchasing an additional 1,806 shares during the last quarter. Institutional investors own 87.77% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on CTRE. Deutsche Bank Aktiengesellschaft raised shares of CareTrust REIT from a "hold" rating to a "buy" rating and set a $31.00 target price on the stock in a report on Thursday, March 13th. Wells Fargo & Company reduced their target price 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. Wedbush reaffirmed an "underperform" rating and set a $26.00 target price on shares of CareTrust REIT in a report on Friday, March 14th. Finally, Royal Bank of Canada reduced their target price on shares of CareTrust REIT from $37.00 to $32.00 and set an "outperform" rating on the stock in a report on Friday, February 21st. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $31.00.

CareTrust REIT Trading Up 1.0%

CareTrust REIT stock traded up $0.27 during trading hours on Friday, reaching $28.59. The stock had a trading volume of 1,059,090 shares, compared to its average volume of 1,820,899. The stock has a market cap of $5.48 billion, a PE ratio of 36.19, a PEG ratio of 1.25 and a beta of 0.88. CareTrust REIT, Inc. has a 52 week low of $24.35 and a 52 week high of $33.15. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.82 and a quick ratio of 3.82. The company has a fifty day simple moving average of $28.50 and a 200-day simple moving average of $27.92.

CareTrust REIT Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were given a $0.335 dividend. This represents a $1.34 annualized dividend and a dividend yield of 4.69%. This is a boost from CareTrust REIT's previous quarterly dividend of $0.29. The ex-dividend date of this dividend was Monday, March 31st. CareTrust REIT's dividend payout ratio (DPR) is currently 145.65%.

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.