LPL Financial LLC Raises Position in CareTrust REIT, Inc. (NASDAQ:CTRE)

LPL Financial LLC grew its position in CareTrust REIT, Inc. (NASDAQ:CTRE) by 37.7% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 128,675 shares of the real estate investment trust’s stock after buying an additional 35,253 shares during the period. LPL Financial LLC owned approximately 0.07% of CareTrust REIT worth $3,678,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Quarry LP grew its position in 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 buying an additional 1,525 shares during the period. Fifth Third Bancorp grew its position in 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 buying an additional 1,355 shares during the period. Glen Eagle Advisors LLC purchased a new position in CareTrust REIT during the fourth quarter valued at approximately $56,000. GF Fund Management CO. LTD. purchased a new position in CareTrust REIT during the fourth quarter valued at approximately $76,000. Finally, State of Wyoming purchased a new position in shares of CareTrust REIT in the fourth quarter worth $152,000. 87.77% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. KeyCorp upped their price target on shares of CareTrust REIT from $33.00 to $36.00 and gave the company an “overweight” rating in a research note on Thursday. Wells Fargo & Company upped their price target on shares of CareTrust REIT from $31.00 to $32.00 and gave the stock an “overweight” rating in a report on Monday, June 2nd. Finally, Royal Bank Of Canada reissued an “outperform” rating on shares of CareTrust REIT in a research report on Monday. One analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, CareTrust REIT currently has an average rating of “Moderate Buy” and an average price target of $31.50.

CareTrust REIT Stock Performance

Shares of CareTrust REIT stock opened at $33.85 on Friday. The firm has a market capitalization of $6.78 billion, a P/E ratio of 42.85, a PEG ratio of 1.25 and a beta of 0.85. The company has a quick ratio of 3.82, a current ratio of 3.82 and a debt-to-equity ratio of 0.14. The company has a 50 day moving average price of $30.97 and a 200 day moving average price of $28.86. CareTrust REIT, Inc. has a 52 week low of $24.79 and a 52 week high of $34.00.

CareTrust REIT Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 30th were issued a $0.335 dividend. This represents a $1.34 annualized dividend and a yield of 4.0%. The ex-dividend date was Monday, June 30th. CareTrust REIT’s dividend payout ratio is 111.67%.

CareTrust REIT 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.