Janney Montgomery Scott LLC Has $1.25 Million Position in CareTrust REIT, Inc. $CTRE

Janney Montgomery Scott LLC lowered its stake in CareTrust REIT, Inc. (NASDAQ:CTRE) by 2.5% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 40,991 shares of the real estate investment trust’s stock after selling 1,062 shares during the quarter. Janney Montgomery Scott LLC’s holdings in CareTrust REIT were worth $1,254,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of CTRE. Parallel Advisors LLC increased its stake in 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 valued at $34,000 after buying an additional 575 shares during the last quarter. Fifth Third Bancorp grew its position in shares of CareTrust REIT by 217.5% in the 1st quarter. Fifth Third Bancorp now owns 1,978 shares of the real estate investment trust’s stock valued at $57,000 after acquiring an additional 1,355 shares during the period. Twin Tree Management LP acquired a new position in shares of CareTrust REIT during the 1st quarter worth about $58,000. GF Fund Management CO. LTD. raised its holdings in shares of CareTrust REIT by 26.6% in the 1st quarter. GF Fund Management CO. LTD. now owns 3,548 shares of the real estate investment trust’s stock valued at $101,000 after purchasing an additional 746 shares during the period. Finally, Pandora Wealth Inc. acquired a new stake in CareTrust REIT in the 1st quarter valued at about $120,000. Institutional investors own 87.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on CTRE shares. Cantor Fitzgerald started coverage on CareTrust REIT in a research note on Wednesday, October 1st. They issued a “neutral” rating and a $37.00 price objective on the stock. Raymond James Financial set a $39.00 price target on CareTrust REIT and gave the company a “strong-buy” rating in a research note on Tuesday, September 2nd. KeyCorp lifted their price objective on shares of CareTrust REIT from $33.00 to $36.00 and gave the stock an “overweight” rating in a research report on Thursday, August 14th. Wells Fargo & Company increased their price objective on shares of CareTrust REIT from $32.00 to $38.00 and gave the company an “overweight” rating in a research report on Wednesday, August 27th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating on shares of CareTrust REIT in a report on Monday, August 11th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $33.88.

CareTrust REIT Stock Performance

NASDAQ CTRE opened at $33.19 on Monday. The firm has a 50-day moving average price of $34.07 and a two-hundred day moving average price of $31.00. CareTrust REIT, Inc. has a 12-month low of $24.79 and a 12-month high of $35.68. The company has a market capitalization of $7.24 billion, a P/E ratio of 42.01, a P/E/G ratio of 1.25 and a beta of 0.82. 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 Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be given a dividend of $0.335 per share. 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 4.0%. CareTrust REIT’s dividend payout ratio is currently 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.