Vanguard Group Inc. Acquires 1,336,348 Shares of CareTrust REIT, Inc. (NASDAQ:CTRE)

Vanguard Group Inc. raised its holdings in CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) by 4.9% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 28,636,981 shares of the real estate investment trust's stock after acquiring an additional 1,336,348 shares during the quarter. Vanguard Group Inc. owned about 14.94% of CareTrust REIT worth $818,445,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in CTRE. Raymond James Financial Inc. acquired a new stake in CareTrust REIT in the fourth quarter valued at approximately $49,048,000. Balyasny Asset Management L.P. lifted its stake in CareTrust REIT by 149.6% in the fourth quarter. Balyasny Asset Management L.P. now owns 2,708,664 shares of the real estate investment trust's stock valued at $73,269,000 after acquiring an additional 1,623,297 shares during the last quarter. Jupiter Asset Management Ltd. lifted its stake in CareTrust REIT by 5,756.5% in the first quarter. Jupiter Asset Management Ltd. now owns 1,181,431 shares of the real estate investment trust's stock valued at $33,765,000 after acquiring an additional 1,161,258 shares during the last quarter. Nuveen Asset Management LLC raised its position in shares of CareTrust REIT by 75.8% in the fourth quarter. Nuveen Asset Management LLC now owns 2,395,809 shares of the real estate investment trust's stock valued at $64,807,000 after purchasing an additional 1,032,848 shares during the period. Finally, Two Sigma Advisers LP raised its position in shares of CareTrust REIT by 70.9% in the fourth quarter. Two Sigma Advisers LP now owns 2,388,900 shares of the real estate investment trust's stock valued at $64,620,000 after purchasing an additional 991,400 shares during the period. 87.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CTRE has been the topic of a number of recent analyst reports. Royal Bank Of Canada reissued an "outperform" rating on shares of CareTrust REIT in a research report on Monday, August 11th. KeyCorp reissued an "overweight" rating and issued a $36.00 price target (up previously from $33.00) on shares of CareTrust REIT in a research report on Thursday. Finally, Wells Fargo & Company lifted their price target on shares of CareTrust REIT from $31.00 to $32.00 and gave the company an "overweight" rating in a research report on Monday, June 2nd. One research 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. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $31.50.

CareTrust REIT Stock Performance

CTRE stock traded up $0.14 on Friday, reaching $33.85. 9,260,841 shares of the company were exchanged, compared to its average volume of 1,953,830. CareTrust REIT, Inc. has a 12 month low of $24.79 and a 12 month high of $34.00. The stock's fifty day moving average price is $30.97 and its 200 day moving average price is $28.88. The firm has a market capitalization of $6.78 billion, a PE ratio of 42.85, a PEG ratio of 1.25 and a beta of 0.85. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.82 and a quick ratio of 3.82.

CareTrust REIT Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 30th were given a dividend of $0.335 per share. The ex-dividend date of this dividend was Monday, June 30th. This represents a $1.34 dividend on an annualized basis and a yield of 4.0%. CareTrust REIT's payout ratio is 111.67%.

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.