Washington Growth Strategies LLC Has $1.33 Million Stock Holdings in CareTrust REIT, Inc. $CTRE

Key Points

• Washington Growth Strategies LLC increased its stake in CareTrust REIT by an astonishing 149,948.3%, now holding 43,514 shares valued at approximately $1.33 million.
• CareTrust REIT announced a quarterly dividend of $0.335, with an ex-dividend date of September 30th, resulting in an annualized dividend yield of 3.8%.
• Several analysts have recently issued ratings on CareTrust REIT, with a consensus rating of "Moderate Buy" and an average price target of $33.88.

Washington Growth Strategies LLC increased its stake in shares of CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) by 149,948.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 43,514 shares of the real estate investment trust's stock after acquiring an additional 43,485 shares during the quarter. CareTrust REIT comprises approximately 1.0% of Washington Growth Strategies LLC's holdings, making the stock its 23rd largest holding. Washington Growth Strategies LLC's holdings in CareTrust REIT were worth $1,332,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Parallel Advisors LLC increased its position in CareTrust REIT by 109.5% during the second quarter. Parallel Advisors LLC now owns 1,100 shares of the real estate investment trust's stock worth $34,000 after acquiring an additional 575 shares during the period. Fifth Third Bancorp increased its position in CareTrust REIT by 217.5% during the first quarter. Fifth Third Bancorp now owns 1,978 shares of the real estate investment trust's stock worth $57,000 after acquiring an additional 1,355 shares during the period. Twin Tree Management LP bought a new position in CareTrust REIT during the first quarter worth $58,000. GF Fund Management CO. LTD. increased its position in CareTrust REIT by 26.6% during the first quarter. GF Fund Management CO. LTD. now owns 3,548 shares of the real estate investment trust's stock worth $101,000 after acquiring an additional 746 shares during the period. Finally, Pandora Wealth Inc. bought a new position in CareTrust REIT during the first quarter worth $120,000. Institutional investors own 87.77% of the company's stock.

CareTrust REIT Stock Up 1.1%

CTRE opened at $35.46 on Friday. The firm's 50-day simple moving average is $33.79 and its 200-day simple moving average is $30.79. 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 twelve month low of $24.79 and a twelve month high of $35.68. The firm has a market cap of $7.73 billion, a price-to-earnings ratio of 44.88, a PEG ratio of 1.25 and a beta of 0.82.

CareTrust REIT Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be issued a $0.335 dividend. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $1.34 annualized dividend and a dividend yield of 3.8%. CareTrust REIT's dividend payout ratio is presently 111.67%.

Analyst Upgrades and Downgrades

CTRE has been the topic of a number of research reports. Royal Bank Of Canada reaffirmed an "outperform" rating on shares of CareTrust REIT in a research report on Monday, August 11th. KeyCorp boosted their price target on shares of CareTrust REIT from $33.00 to $36.00 and gave the company an "overweight" rating in a report on Thursday, August 14th. Cantor Fitzgerald initiated coverage on shares of CareTrust REIT in a report on Wednesday. They issued a "neutral" rating and a $37.00 price target on the stock. Raymond James Financial set a $39.00 price target on shares of CareTrust REIT and gave the company a "strong-buy" rating in a report on Tuesday, September 2nd. Finally, Wells Fargo & Company boosted their price target on shares of CareTrust REIT from $32.00 to $38.00 and gave the company an "overweight" rating in a report on Wednesday, August 27th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $33.88.

CareTrust REIT Company 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.

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