WealthShield Partners LLC Grows Stake in CareTrust REIT, Inc. (NASDAQ:CTRE)

Key Points

• WealthShield Partners LLC increased its holdings in CareTrust REIT, Inc. by 93.5% during the first quarter, acquiring an additional 45,904 shares, bringing their total ownership to 95,023 shares valued at $2,731,000.
• Other major investors like FMR LLC and Balyasny Asset Management L.P. also significantly raised their stakes in CareTrust REIT, highlighting strong institutional interest in the company.
• Wells Fargo upgraded the price target for CareTrust REIT from $31.00 to $32.00 and gave it an "overweight" rating, contributing to a current consensus rating of "Moderate Buy."

WealthShield Partners LLC increased its holdings in shares of CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) by 93.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 95,023 shares of the real estate investment trust's stock after purchasing an additional 45,904 shares during the quarter. WealthShield Partners LLC's holdings in CareTrust REIT were worth $2,731,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of CTRE. Quarry LP increased its position 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 valued at $50,000 after acquiring an additional 1,525 shares during the last quarter. 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 valued at $57,000 after acquiring an additional 1,355 shares during the last quarter. Glen Eagle Advisors LLC purchased a new stake in CareTrust REIT during the fourth quarter valued at $56,000. GF Fund Management CO. LTD. purchased a new stake in CareTrust REIT during the fourth quarter valued at $76,000. Finally, Covestor Ltd increased its position in CareTrust REIT by 44.1% in the fourth quarter. Covestor Ltd now owns 5,206 shares of the real estate investment trust's stock worth $141,000 after buying an additional 1,593 shares in the last quarter. 87.77% of the stock is owned by institutional investors.

CareTrust REIT Stock Performance

CTRE traded up $0.36 during midday trading on Friday, reaching $32.91. The company had a trading volume of 2,774,266 shares, compared to its average volume of 1,756,490. The company has a quick ratio of 3.82, a current ratio of 3.82 and a debt-to-equity ratio of 0.14. The business has a 50-day moving average of $30.54 and a two-hundred day moving average of $28.65. The company has a market cap of $6.31 billion, a P/E ratio of 41.66, a P/E/G ratio of 1.25 and a beta of 0.85. CareTrust REIT, Inc. has a 1 year low of $24.79 and a 1 year high of $33.52.

CareTrust REIT Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th were given a $0.335 dividend. The ex-dividend date was Monday, June 30th. This represents a $1.34 dividend on an annualized basis and a yield of 4.1%. CareTrust REIT's dividend payout ratio is presently 145.65%.

Analysts Set New Price Targets

Separately, Wells Fargo & Company upped their price target on CareTrust REIT from $31.00 to $32.00 and gave the stock an "overweight" rating in a research report on Monday, June 2nd. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat, CareTrust REIT presently has a consensus rating of "Moderate Buy" and a consensus price target of $31.17.

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.