Zuckerman Investment Group LLC Purchases Shares of 10,250 CareTrust REIT, Inc. $CTRE

Key Points

• Zuckerman Investment Group LLC has acquired 10,250 shares of CareTrust REIT, Inc. for approximately $293,000 in its first quarter, reflecting growing institutional interest in the company.
• Multiple institutional investors, including Allspring Global Investments and Principal Financial Group, have increased their stakes in CareTrust REIT, with institutional ownership now at 87.77%.
• Analysts are optimistic about CareTrust REIT, with upgrade recommendations from firms like Wells Fargo and KeyCorp, setting an average price target of $31.50 for the stock.

Zuckerman Investment Group LLC acquired a new position in shares of CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 10,250 shares of the real estate investment trust's stock, valued at approximately $293,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. J. W. Coons Advisors LLC raised its stake in CareTrust REIT by 4.1% in the 1st quarter. J. W. Coons Advisors LLC now owns 8,876 shares of the real estate investment trust's stock valued at $254,000 after acquiring an additional 347 shares during the period. Norinchukin Bank The grew its holdings in shares of CareTrust REIT by 4.6% during the 1st quarter. Norinchukin Bank The now owns 8,662 shares of the real estate investment trust's stock worth $248,000 after purchasing an additional 382 shares in the last quarter. Quantinno Capital Management LP grew its holdings in shares of CareTrust REIT by 2.3% during the 4th quarter. Quantinno Capital Management LP now owns 17,482 shares of the real estate investment trust's stock worth $473,000 after purchasing an additional 385 shares in the last quarter. Envestnet Portfolio Solutions Inc. boosted its stake in CareTrust REIT by 4.5% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 10,022 shares of the real estate investment trust's stock valued at $286,000 after buying an additional 435 shares in the last quarter. Finally, Smartleaf Asset Management LLC boosted its stake in CareTrust REIT by 10.4% in the first quarter. Smartleaf Asset Management LLC now owns 5,555 shares of the real estate investment trust's stock valued at $161,000 after buying an additional 523 shares in the last quarter. Institutional investors own 87.77% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on CTRE. KeyCorp lifted their price objective on CareTrust REIT from $33.00 to $36.00 and gave the stock an "overweight" rating in a research note on Thursday, August 14th. Wells Fargo & Company increased their price objective on CareTrust REIT from $32.00 to $38.00 and gave the stock an "overweight" rating in a report on Wednesday. Finally, Royal Bank Of Canada reissued an "outperform" rating on shares of CareTrust REIT in a report on Monday, August 11th. Four investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $32.50.

CareTrust REIT Stock Down 0.2%

Shares of CTRE traded down $0.06 during midday trading on Friday, hitting $34.40. 2,124,496 shares of the company's stock traded hands, compared to its average volume of 1,956,533. 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's fifty day moving average is $31.99 and its 200-day moving average is $29.41. CareTrust REIT, Inc. has a 1 year low of $24.79 and a 1 year high of $34.92. The stock has a market capitalization of $7.50 billion, a price-to-earnings ratio of 43.54, a price-to-earnings-growth ratio of 1.25 and a beta of 0.85.

CareTrust REIT Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th were issued a $0.335 dividend. This represents a $1.34 annualized dividend and a yield of 3.9%. The ex-dividend date was Monday, June 30th. CareTrust REIT's dividend payout ratio is presently 111.67%.

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.