Vident Advisory LLC Cuts Stake in CareTrust REIT, Inc. (NASDAQ:CTRE)

Vident Advisory LLC lessened its position in shares of CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) by 38.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 15,596 shares of the real estate investment trust's stock after selling 9,744 shares during the quarter. Vident Advisory LLC's holdings in CareTrust REIT were worth $422,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Advantage Trust Co acquired a new stake in shares of CareTrust REIT in the fourth quarter valued at about $30,000. Blue Trust Inc. raised its stake in shares of CareTrust REIT by 50.0% in the 4th quarter. Blue Trust Inc. now owns 1,808 shares of the real estate investment trust's stock valued at $49,000 after acquiring an additional 603 shares during the period. Quarry LP grew its holdings in shares of CareTrust REIT by 463.5% in the fourth 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 in the last quarter. Signaturefd LLC grew its holdings in shares of CareTrust REIT by 20.3% in the fourth 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 in the last quarter. Finally, Smartleaf Asset Management LLC grew its holdings in shares of CareTrust REIT by 56.0% in the fourth 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 in the last quarter. Institutional investors and hedge funds own 87.77% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on CTRE shares. Wells Fargo & Company lowered their price target on shares of CareTrust REIT from $34.00 to $31.00 and set an "overweight" rating for the company in a report on Monday, March 10th. Wedbush reiterated an "underperform" rating and set a $26.00 price target on shares of CareTrust REIT in a report on Friday, March 14th. Deutsche Bank Aktiengesellschaft upgraded shares of CareTrust REIT from a "hold" rating to a "buy" rating and set a $31.00 price target for the company in a report on Thursday, March 13th. Finally, Royal Bank of Canada lowered their price target on shares of CareTrust REIT from $37.00 to $32.00 and set an "outperform" rating for the company in a report on Friday, February 21st. One analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $31.00.

CareTrust REIT Stock Up 0.8%

Shares of CareTrust REIT stock traded up $0.24 during trading hours on Friday, hitting $28.79. The company had a trading volume of 1,286,772 shares, compared to its average volume of 1,820,654. The company's 50-day moving average is $28.48 and its two-hundred day moving average is $27.83. CareTrust REIT, Inc. has a twelve month low of $24.35 and a twelve month 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 market cap of $5.52 billion, a P/E ratio of 36.44, a price-to-earnings-growth ratio of 1.25 and a beta of 0.88.

CareTrust REIT Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were given a $0.335 dividend. This is an increase from CareTrust REIT's previous quarterly dividend of $0.29. The ex-dividend date was Monday, March 31st. This represents a $1.34 annualized dividend and a yield of 4.66%. CareTrust REIT's dividend payout ratio is 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.