Victory Capital Management Inc. Sells 60,550 Shares of CareTrust REIT, Inc. (NASDAQ:CTRE)

Victory Capital Management Inc. cut its holdings in shares of CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) by 6.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 849,077 shares of the real estate investment trust's stock after selling 60,550 shares during the quarter. Victory Capital Management Inc. owned 0.45% of CareTrust REIT worth $24,267,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the business. Allspring Global Investments Holdings LLC increased its stake in 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 acquiring an additional 15,523 shares during the last quarter. Principal Financial Group Inc. increased its stake in 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 acquiring an additional 31,279 shares during the last quarter. Corient Private Wealth LLC increased its stake in CareTrust REIT by 9.2% in the fourth quarter. Corient Private Wealth LLC now owns 22,481 shares of the real estate investment trust's stock valued at $608,000 after acquiring an additional 1,903 shares during the last quarter. KBC Group NV increased its stake in 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 acquiring an additional 1,875 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. increased its stake in 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 acquiring an additional 3,626 shares during the last quarter. 87.77% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Wells Fargo & Company lifted their price target on shares of CareTrust REIT from $31.00 to $32.00 and gave the stock an "overweight" rating in a 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 given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $31.17.

CareTrust REIT Stock Up 0.1%

CareTrust REIT stock opened at $30.37 on Tuesday. CareTrust REIT, Inc. has a 1-year low of $24.79 and a 1-year high of $33.15. The firm has a market capitalization of $5.82 billion, a price-to-earnings ratio of 38.44, a P/E/G ratio of 1.25 and a beta of 0.84. 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 firm has a 50 day simple moving average of $29.64 and a 200 day simple moving average of $28.15.

CareTrust REIT Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th were issued a dividend of $0.335 per share. This represents a $1.34 dividend on an annualized basis and a dividend yield of 4.41%. The ex-dividend date of this dividend was Monday, June 30th. CareTrust REIT's dividend payout ratio is currently 145.65%.

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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