CareTrust REIT, Inc. (NASDAQ:CTRE) Shares Purchased by Two Sigma Investments LP

Two Sigma Investments LP lifted its stake in CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) by 61.6% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,008,837 shares of the real estate investment trust's stock after purchasing an additional 766,073 shares during the quarter. Two Sigma Investments LP owned about 1.17% of CareTrust REIT worth $54,339,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of CTRE. JPMorgan Chase & Co. raised its position in shares of CareTrust REIT by 381.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 6,878,379 shares of the real estate investment trust's stock valued at $212,267,000 after purchasing an additional 5,448,904 shares during the last quarter. Vanguard Group Inc. raised its position 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 worth $738,482,000 after buying an additional 4,263,097 shares during the last quarter. FMR LLC raised its position in 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 worth $214,586,000 after buying an additional 2,708,050 shares during the last quarter. Raymond James Financial Inc. purchased a new position in CareTrust REIT during the 4th quarter worth approximately $49,048,000. Finally, Balyasny Asset Management L.P. raised its position in 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 buying an additional 1,623,297 shares during the last quarter. 87.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have issued reports on CTRE. Deutsche Bank Aktiengesellschaft raised shares of CareTrust REIT from a "hold" rating to a "buy" rating and set a $31.00 price target for the company in a research report on Thursday, March 13th. 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 report on Friday, February 21st. Wells Fargo & Company reduced their price target on shares of CareTrust REIT from $34.00 to $31.00 and set an "overweight" rating for the company in a research report on Monday, March 10th. Finally, Wedbush reissued an "underperform" rating and set a $26.00 price target on shares of CareTrust REIT in a research report on Friday, March 14th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, CareTrust REIT has an average rating of "Moderate Buy" and a consensus target price of $31.00.

CareTrust REIT Stock Performance

Shares of NASDAQ CTRE traded up $0.27 during midday trading on Friday, reaching $28.59. 1,059,090 shares of the stock were exchanged, compared to its average volume of 1,820,899. The firm has a market cap of $5.48 billion, a price-to-earnings ratio of 36.19, a PEG ratio of 1.25 and a beta of 0.88. CareTrust REIT, Inc. has a twelve month low of $24.35 and a twelve month high of $33.15. The firm has a 50-day simple moving average of $28.50 and a two-hundred day simple moving average of $27.92. 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 Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were paid a dividend of $0.335 per share. 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. This represents a $1.34 dividend on an annualized basis and a dividend yield of 4.69%. CareTrust REIT's dividend payout ratio (DPR) is presently 145.65%.

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.