Voloridge Investment Management LLC Has $35.84 Million Stock Position in CareTrust REIT, Inc. (NASDAQ:CTRE)

Voloridge Investment Management LLC grew its holdings in CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) by 99.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,324,899 shares of the real estate investment trust's stock after buying an additional 661,126 shares during the quarter. Voloridge Investment Management LLC owned approximately 0.77% of CareTrust REIT worth $35,839,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Advantage Trust Co bought a new position in CareTrust REIT during the fourth quarter worth about $30,000. Blue Trust Inc. boosted its holdings in CareTrust REIT by 50.0% during the fourth quarter. Blue Trust Inc. now owns 1,808 shares of the real estate investment trust's stock worth $49,000 after buying an additional 603 shares during the last quarter. Quarry LP boosted its holdings in CareTrust REIT by 463.5% during the fourth quarter. Quarry LP now owns 1,854 shares of the real estate investment trust's stock worth $50,000 after buying an additional 1,525 shares during the last quarter. Signaturefd LLC boosted its holdings in CareTrust REIT by 20.3% during the fourth quarter. Signaturefd LLC now owns 2,628 shares of the real estate investment trust's stock worth $71,000 after buying an additional 443 shares during the last quarter. Finally, Smartleaf Asset Management LLC boosted its holdings in CareTrust REIT by 56.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 5,032 shares of the real estate investment trust's stock worth $135,000 after buying an additional 1,806 shares during the last quarter. 87.77% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently issued reports on CTRE shares. Deutsche Bank Aktiengesellschaft upgraded CareTrust REIT from a "hold" rating to a "buy" rating and set a $31.00 price objective for the company in a research report on Thursday, March 13th. Wedbush reiterated an "underperform" rating and issued a $26.00 price objective on shares of CareTrust REIT in a research report on Friday, March 14th. Royal Bank of Canada decreased their price objective on CareTrust REIT from $37.00 to $32.00 and set an "outperform" rating for the company in a research report on Friday, February 21st. Finally, Wells Fargo & Company decreased their price objective on CareTrust REIT from $34.00 to $31.00 and set an "overweight" rating for the company in a research report on Monday, March 10th. 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 company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $31.00.

CareTrust REIT Stock Up 1.7%

NASDAQ CTRE traded up $0.50 during trading on Tuesday, hitting $29.10. The stock had a trading volume of 200,249 shares, compared to its average volume of 1,814,494. The company has a market capitalization of $5.58 billion, a PE ratio of 36.82, a P/E/G ratio of 1.25 and a beta of 0.88. The company's 50-day moving average price is $28.49 and its two-hundred day moving average price is $27.88. The company has a debt-to-equity ratio of 0.14, a quick ratio of 3.82 and a current ratio of 3.82. CareTrust REIT, Inc. has a 12 month low of $24.35 and a 12 month high of $33.15.

CareTrust REIT Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were paid a $0.335 dividend. This is a boost 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 4.61%. CareTrust REIT's payout ratio is presently 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.