KBC Group NV Purchases 1,875 Shares of CareTrust REIT, Inc. (NASDAQ:CTRE)

KBC Group NV grew its position in CareTrust REIT, Inc. (NASDAQ:CTRE) by 33.6% in the first quarter, according to its most recent filing with the SEC. The fund owned 7,448 shares of the real estate investment trust’s stock after acquiring an additional 1,875 shares during the period. KBC Group NV’s holdings in CareTrust REIT were worth $213,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the company. Quantinno Capital Management LP raised its position in 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 during the last quarter. Envestnet Portfolio Solutions Inc. raised its position in CareTrust REIT by 4.5% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 10,022 shares of the real estate investment trust’s stock worth $286,000 after purchasing an additional 435 shares during the last quarter. Signaturefd LLC raised its position in CareTrust REIT by 20.3% during the 4th quarter. Signaturefd LLC now owns 2,628 shares of the real estate investment trust’s stock worth $71,000 after purchasing an additional 443 shares during the last quarter. PNC Financial Services Group Inc. raised its position in CareTrust REIT by 4.9% during the 4th quarter. PNC Financial Services Group Inc. now owns 11,384 shares of the real estate investment trust’s stock worth $308,000 after purchasing an additional 534 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC raised its position in 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 purchasing an additional 601 shares during the last quarter. 87.77% of the stock is currently owned by institutional investors.

CareTrust REIT Stock Performance

CTRE stock opened at $31.20 on Monday. The stock has a 50-day moving average price of $29.29 and a 200-day moving average price of $27.89. CareTrust REIT, Inc. has a 1-year low of $24.79 and a 1-year high of $33.15. 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 has a market cap of $5.98 billion, a PE ratio of 39.49, a price-to-earnings-growth ratio of 1.25 and a beta of 0.84.

CareTrust REIT Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be given a $0.335 dividend. This represents a $1.34 annualized dividend and a dividend yield of 4.29%. The ex-dividend date of this dividend is Monday, June 30th. CareTrust REIT’s dividend payout ratio (DPR) is presently 145.65%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. 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. Wedbush reaffirmed an “underperform” rating and set a $26.00 target price on shares of CareTrust REIT in a research report on Friday, March 14th. Finally, Wells Fargo & Company raised their target price 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 investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average 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.