Valicenti Advisory Services Inc. Has $1.22 Million Holdings in CareTrust REIT, Inc. $CTRE

Valicenti Advisory Services Inc. boosted its stake in CareTrust REIT, Inc. (NASDAQ:CTRE) by 20.3% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 39,869 shares of the real estate investment trust’s stock after buying an additional 6,719 shares during the quarter. Valicenti Advisory Services Inc.’s holdings in CareTrust REIT were worth $1,220,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of CTRE. Allspring Global Investments Holdings LLC boosted its stake in shares of CareTrust REIT by 21.8% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 86,776 shares of the real estate investment trust’s stock valued at $2,471,000 after purchasing an additional 15,523 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in CareTrust REIT by 3.0% during the 1st quarter. Principal Financial Group Inc. now owns 1,066,093 shares of the real estate investment trust’s stock valued at $30,469,000 after purchasing an additional 31,279 shares during the last quarter. KBC Group NV boosted its position in CareTrust REIT by 33.6% in the first quarter. KBC Group NV now owns 7,448 shares of the real estate investment trust’s stock valued at $213,000 after buying an additional 1,875 shares in the last quarter. Cambridge Investment Research Advisors Inc. grew its stake in CareTrust REIT by 8.1% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 48,495 shares of the real estate investment trust’s stock worth $1,386,000 after buying an additional 3,626 shares during the last quarter. Finally, Asset Management One Co. Ltd. increased its holdings in shares of CareTrust REIT by 4.0% during the first quarter. Asset Management One Co. Ltd. now owns 416,091 shares of the real estate investment trust’s stock worth $11,892,000 after buying an additional 16,008 shares in the last quarter. 87.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently commented on CTRE shares. Wells Fargo & Company increased their price target on CareTrust REIT from $32.00 to $38.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 27th. Raymond James Financial set a $39.00 target price on CareTrust REIT and gave the stock a “strong-buy” rating in a report on Tuesday, September 2nd. KeyCorp raised their price target on shares of CareTrust REIT from $33.00 to $36.00 and gave the company an “overweight” rating in a report on Thursday, August 14th. Finally, Royal Bank Of Canada restated an “outperform” rating on shares of CareTrust REIT in a research report on Monday, August 11th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $33.43.

CareTrust REIT Price Performance

NASDAQ CTRE opened at $34.76 on Friday. CareTrust REIT, Inc. has a 52-week low of $24.79 and a 52-week high of $35.18. The company has a debt-to-equity ratio of 0.14, a quick ratio of 3.82 and a current ratio of 3.82. The business has a 50 day simple moving average of $33.40 and a 200 day simple moving average of $30.55. The stock has a market cap of $7.58 billion, a price-to-earnings ratio of 44.00, a PEG ratio of 1.25 and a beta of 0.84.

CareTrust REIT Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be issued a dividend of $0.335 per share. The ex-dividend date 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 presently 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.