Cetera Investment Advisers Buys 7,151 Shares of CareTrust REIT, Inc. (NASDAQ:CTRE)

Cetera Investment Advisers grew its stake in CareTrust REIT, Inc. (NASDAQ:CTRE) by 22.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 39,582 shares of the real estate investment trust’s stock after acquiring an additional 7,151 shares during the quarter. Cetera Investment Advisers’ holdings in CareTrust REIT were worth $1,131,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CTRE. Quarry LP lifted its holdings in shares of CareTrust REIT by 463.5% during the fourth quarter. Quarry LP now owns 1,854 shares of the real estate investment trust’s stock valued at $50,000 after purchasing an additional 1,525 shares in the last quarter. Glen Eagle Advisors LLC bought a new position in shares of CareTrust REIT during the fourth quarter valued at $56,000. Fifth Third Bancorp lifted its holdings in shares of CareTrust REIT by 217.5% during the first quarter. Fifth Third Bancorp now owns 1,978 shares of the real estate investment trust’s stock valued at $57,000 after purchasing an additional 1,355 shares in the last quarter. GF Fund Management CO. LTD. bought a new position in shares of CareTrust REIT during the fourth quarter valued at $76,000. Finally, State of Wyoming bought a new position in shares of CareTrust REIT during the fourth quarter valued at $152,000. 87.77% of the stock is owned by institutional investors.

CareTrust REIT Stock Up 0.0%

CareTrust REIT stock opened at $32.90 on Tuesday. The stock has a market cap of $6.59 billion, a PE ratio of 41.65, a price-to-earnings-growth ratio of 1.25 and a beta of 0.85. The company has a debt-to-equity ratio of 0.14, a quick ratio of 3.82 and a current ratio of 3.82. CareTrust REIT, Inc. has a one year low of $24.79 and a one year high of $33.52. The stock has a fifty day moving average of $30.61 and a 200 day moving average of $28.72.

CareTrust REIT Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th were given a $0.335 dividend. The ex-dividend date was Monday, June 30th. This represents a $1.34 dividend on an annualized basis and a yield of 4.1%. CareTrust REIT’s dividend payout ratio is presently 111.67%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on CTRE. Wells Fargo & Company upped their price target on CareTrust REIT from $31.00 to $32.00 and gave the company an “overweight” rating in a report on Monday, June 2nd. Royal Bank Of Canada reiterated an “outperform” rating on shares of CareTrust REIT in a research report on Monday. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price 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.