GAMMA Investing LLC Increases Stake in CareTrust REIT, Inc. $CTRE

GAMMA Investing LLC grew its stake in shares of CareTrust REIT, Inc. (NASDAQ:CTRE) by 42.9% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,469 shares of the real estate investment trust’s stock after acquiring an additional 1,341 shares during the quarter. GAMMA Investing LLC’s holdings in CareTrust REIT were worth $137,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in CTRE. Financiere des Professionnels Fonds d investissement inc. bought a new position in shares of CareTrust REIT in the 2nd quarter worth approximately $274,000. Moody National Bank Trust Division lifted its stake in shares of CareTrust REIT by 2.1% in the 2nd quarter. Moody National Bank Trust Division now owns 26,483 shares of the real estate investment trust’s stock worth $810,000 after purchasing an additional 548 shares during the period. Wealth Enhancement Advisory Services LLC bought a new position in shares of CareTrust REIT in the 2nd quarter worth approximately $343,000. Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in shares of CareTrust REIT by 6.4% in the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 39,764 shares of the real estate investment trust’s stock worth $1,217,000 after purchasing an additional 2,384 shares during the period. Finally, Parallel Advisors LLC lifted its stake in shares of CareTrust REIT by 109.5% in the 2nd quarter. Parallel Advisors LLC now owns 1,100 shares of the real estate investment trust’s stock worth $34,000 after purchasing an additional 575 shares during the period. Hedge funds and other institutional investors own 87.77% of the company’s stock.

CareTrust REIT Stock Up 1.0%

NASDAQ CTRE opened at $34.67 on Wednesday. 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 fifty day moving average of $33.56 and a two-hundred day moving average of $30.67. The firm has a market capitalization of $7.56 billion, a price-to-earnings ratio of 43.88, a PEG ratio of 1.25 and a beta of 0.84. CareTrust REIT, Inc. has a 52 week low of $24.79 and a 52 week high of $35.18.

CareTrust REIT Dividend Announcement

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

Wall Street Analyst Weigh In

CTRE has been the topic of a number of recent analyst reports. Raymond James Financial set a $39.00 target price on shares of CareTrust REIT and gave the stock a “strong-buy” rating in a research note on Tuesday, September 2nd. KeyCorp raised their target price on shares of CareTrust REIT from $33.00 to $36.00 and gave the stock an “overweight” rating in a research note on Thursday, August 14th. Wells Fargo & Company raised their target price on shares of CareTrust REIT from $32.00 to $38.00 and gave the stock 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 note on Monday, August 11th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $33.43.

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.