CareTrust REIT, Inc. $CTRE Shares Acquired by Private Trust Co. NA

Private Trust Co. NA increased its holdings in shares of CareTrust REIT, Inc. (NASDAQ:CTRE) by 1,328.3% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,828 shares of the real estate investment trust’s stock after purchasing an additional 2,630 shares during the quarter. Private Trust Co. NA’s holdings in CareTrust REIT were worth $87,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Parallel Advisors LLC grew its stake 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 buying an additional 575 shares during the period. Twin Tree Management LP acquired a new position in shares of CareTrust REIT during the 1st quarter valued at $58,000. CWM LLC boosted its position in CareTrust REIT by 47.6% during the 2nd 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. GF Fund Management CO. LTD. increased its holdings in CareTrust REIT by 26.6% in the 1st quarter. GF Fund Management CO. LTD. now owns 3,548 shares of the real estate investment trust’s stock valued at $101,000 after purchasing an additional 746 shares in the last quarter. Finally, Pandora Wealth Inc. acquired a new stake in CareTrust REIT in the 1st quarter valued at $120,000. 87.77% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have commented on CTRE. Raymond James Financial set a $39.00 price objective on CareTrust REIT and gave the stock a “strong-buy” rating in a research note on Tuesday, September 2nd. KeyCorp boosted their price target on CareTrust REIT from $33.00 to $36.00 and gave the stock an “overweight” rating in a research report on Thursday, August 14th. Cantor Fitzgerald assumed coverage on shares of CareTrust REIT in a research report on Wednesday, October 1st. They issued a “neutral” rating and a $37.00 price objective for the company. Wells Fargo & Company lifted their price objective on shares of CareTrust REIT from $32.00 to $38.00 and gave the company an “overweight” rating in a research note on Wednesday, August 27th. Finally, Royal Bank Of Canada restated an “outperform” rating on shares of CareTrust REIT in a research note on Monday, August 11th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, CareTrust REIT has an average rating of “Moderate Buy” and a consensus target price of $33.88.

CareTrust REIT Stock Performance

CareTrust REIT stock opened at $34.97 on Thursday. The stock has a market cap of $7.63 billion, a P/E ratio of 44.26, a price-to-earnings-growth ratio of 1.25 and a beta of 0.82. 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 stock has a 50 day moving average of $34.25 and a 200-day moving average of $31.27. CareTrust REIT, Inc. has a 52 week low of $24.79 and a 52 week high of $35.68.

CareTrust REIT Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th were issued a dividend of $0.335 per share. This represents a $1.34 annualized dividend and a yield of 3.8%. The ex-dividend date of this dividend was Tuesday, September 30th. CareTrust REIT’s dividend payout ratio (DPR) 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.