CareTrust REIT, Inc. (NASDAQ:CTRE) Shares Sold by Millennium Management LLC

Millennium Management LLC trimmed its stake in shares of CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) by 29.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,064,738 shares of the real estate investment trust's stock after selling 849,791 shares during the quarter. Millennium Management LLC owned 1.20% of CareTrust REIT worth $55,851,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of CTRE. Signaturefd LLC increased its holdings in 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 buying an additional 443 shares during the last quarter. WealthShield Partners LLC lifted its stake in CareTrust REIT by 1.0% during the fourth quarter. WealthShield Partners LLC now owns 49,119 shares of the real estate investment trust's stock worth $1,343,000 after purchasing an additional 490 shares during the last quarter. PNC Financial Services Group Inc. increased its stake in CareTrust REIT by 4.9% in the fourth quarter. PNC Financial Services Group Inc. now owns 11,384 shares of the real estate investment trust's stock valued at $308,000 after purchasing an additional 534 shares during the last quarter. O Shaughnessy Asset Management LLC lifted its position in shares of CareTrust REIT by 5.4% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 11,777 shares of the real estate investment trust's stock worth $319,000 after buying an additional 601 shares during the last quarter. Finally, Blue Trust Inc. boosted its holdings 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 buying an additional 603 shares in the last quarter. 87.77% of the stock is owned by institutional investors and hedge funds.

CareTrust REIT Stock Performance

Shares of CTRE traded down $0.81 during mid-day trading on Wednesday, hitting $28.80. 2,576,136 shares of the company's stock were exchanged, compared to its average volume of 1,815,717. The company has a current ratio of 3.82, a quick ratio of 3.82 and a debt-to-equity ratio of 0.14. CareTrust REIT, Inc. has a fifty-two week low of $24.35 and a fifty-two week high of $33.15. The business's 50 day moving average is $28.51 and its two-hundred day moving average is $27.96. The firm has a market capitalization of $5.52 billion, a P/E ratio of 36.46, a P/E/G ratio of 1.25 and a beta of 0.88.

CareTrust REIT Increases Dividend

The business 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 an increase from CareTrust REIT's previous quarterly dividend of $0.29. This represents a $1.34 annualized dividend and a dividend yield of 4.65%. The ex-dividend date was Monday, March 31st. CareTrust REIT's dividend payout ratio (DPR) is 145.65%.

Analysts Set New Price Targets

A number of research analysts recently commented on CTRE shares. Wells Fargo & Company dropped their target price on shares of CareTrust REIT from $34.00 to $31.00 and set an "overweight" rating on the stock in a research report on Monday, March 10th. Wedbush reaffirmed an "underperform" rating and set a $26.00 price objective on shares of CareTrust REIT in a report on Friday, March 14th. Royal Bank of Canada cut their target price on CareTrust REIT from $37.00 to $32.00 and set an "outperform" rating on the stock in a research report on Friday, February 21st. Finally, Deutsche Bank Aktiengesellschaft raised CareTrust REIT from a "hold" rating to a "buy" rating and set a $31.00 target price for the company in a research report on Thursday, March 13th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $31.00.

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.