IFM Investors Pty Ltd Lowers Stock Holdings in CareTrust REIT, Inc. $CTRE

IFM Investors Pty Ltd decreased its holdings in CareTrust REIT, Inc. (NASDAQ:CTRE) by 19.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 30,326 shares of the real estate investment trust’s stock after selling 7,432 shares during the quarter. IFM Investors Pty Ltd’s holdings in CareTrust REIT were worth $928,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. J. W. Coons Advisors LLC lifted its holdings in shares of CareTrust REIT by 4.1% during the 1st quarter. J. W. Coons Advisors LLC now owns 8,876 shares of the real estate investment trust’s stock valued at $254,000 after acquiring an additional 347 shares in the last quarter. Norinchukin Bank The grew its stake in CareTrust REIT by 4.6% in the first quarter. Norinchukin Bank The now owns 8,662 shares of the real estate investment trust’s stock worth $248,000 after purchasing an additional 382 shares in the last quarter. Envestnet Portfolio Solutions Inc. increased its holdings in CareTrust REIT by 4.5% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 10,022 shares of the real estate investment trust’s stock valued at $286,000 after buying an additional 435 shares during the last quarter. Smartleaf Asset Management LLC increased its stake in CareTrust REIT by 10.4% during the first quarter. Smartleaf Asset Management LLC now owns 5,555 shares of the real estate investment trust’s stock valued at $161,000 after purchasing an additional 523 shares during the last quarter. Finally, Moody National Bank Trust Division boosted its stake in CareTrust REIT by 2.1% in the second quarter. Moody National Bank Trust Division now owns 26,483 shares of the real estate investment trust’s stock valued at $810,000 after acquiring an additional 548 shares during the period. 87.77% of the stock is currently owned by hedge funds and other institutional investors.

CareTrust REIT Stock Up 2.1%

Shares of CareTrust REIT stock opened at $34.72 on Wednesday. The stock has a market capitalization of $7.57 billion, a P/E ratio of 43.95, a PEG ratio of 1.25 and a beta of 0.84. The company has a quick ratio of 3.82, a current ratio of 3.82 and a debt-to-equity ratio of 0.14. CareTrust REIT, Inc. has a 12-month low of $24.79 and a 12-month high of $35.08. The stock has a 50 day moving average price of $33.15 and a two-hundred day moving average price of $30.41.

CareTrust REIT Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th will be issued a $0.335 dividend. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $1.34 dividend on an annualized basis and a yield of 3.9%. CareTrust REIT’s dividend payout ratio (DPR) is 111.67%.

Analyst Ratings Changes

Several analysts recently commented on the company. KeyCorp raised their target price on CareTrust REIT from $33.00 to $36.00 and gave the company an “overweight” rating in a research report on Thursday, August 14th. Raymond James Financial set a $39.00 target price on shares of CareTrust REIT and gave the stock a “strong-buy” rating in a report on Tuesday, September 2nd. Wells Fargo & Company upped 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 report on Monday, August 11th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $33.43.

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.