VIRGINIA RETIREMENT SYSTEMS ET Al Acquires Shares of 332,800 CareTrust REIT, Inc. $CTRE

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of CareTrust REIT, Inc. (NASDAQ:CTRE) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 332,800 shares of the real estate investment trust’s stock, valued at approximately $10,184,000. VIRGINIA RETIREMENT SYSTEMS ET Al owned 0.17% of CareTrust REIT at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Parallel Advisors LLC increased its position in CareTrust REIT by 109.5% during the 2nd quarter. Parallel Advisors LLC now owns 1,100 shares of the real estate investment trust’s stock valued at $34,000 after purchasing an additional 575 shares during the period. Twin Tree Management LP purchased a new stake in CareTrust REIT in the first quarter worth $58,000. Private Trust Co. NA grew its stake in CareTrust REIT by 1,328.3% in the second quarter. Private Trust Co. NA now owns 2,828 shares of the real estate investment trust’s stock worth $87,000 after purchasing an additional 2,630 shares during the period. CWM LLC grew its stake in CareTrust REIT by 47.6% in the second quarter. CWM LLC now owns 2,955 shares of the real estate investment trust’s stock worth $90,000 after purchasing an additional 953 shares during the period. Finally, GF Fund Management CO. LTD. grew its stake in CareTrust REIT by 26.6% in 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 purchasing an additional 746 shares during the period. 87.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CTRE has been the topic of several recent research reports. Wells Fargo & Company upped their price target on CareTrust REIT from $32.00 to $38.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 27th. Cantor Fitzgerald initiated coverage on CareTrust REIT in a research note on Wednesday, October 1st. They issued a “neutral” rating and a $37.00 price target on the stock. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of CareTrust REIT in a research note on Monday, August 11th. Raymond James Financial set a $39.00 price target on CareTrust REIT and gave the stock a “strong-buy” rating in a research note on Tuesday, September 2nd. Finally, KeyCorp upped their price target on CareTrust REIT from $33.00 to $36.00 and gave the stock an “overweight” rating in a research note on Thursday, August 14th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, CareTrust REIT presently has a consensus rating of “Moderate Buy” and a consensus target price of $33.88.

CareTrust REIT Trading Up 1.7%

NASDAQ CTRE opened at $35.19 on Tuesday. CareTrust REIT, Inc. has a 12 month low of $24.79 and a 12 month high of $35.68. The stock has a market cap of $7.67 billion, a P/E ratio of 44.54, a P/E/G ratio of 1.25 and a beta of 0.82. The stock’s fifty day moving average price is $34.19 and its 200-day moving average price is $31.22. 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 Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th were paid a $0.335 dividend. This represents a $1.34 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date of this dividend was Tuesday, September 30th. CareTrust REIT’s dividend payout ratio is currently 111.67%.

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.