CareTrust REIT, Inc. $CTRE Position Boosted by DekaBank Deutsche Girozentrale

DekaBank Deutsche Girozentrale lifted its stake in shares of CareTrust REIT, Inc. (NASDAQ:CTRE) by 10.0% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 89,898 shares of the real estate investment trust’s stock after purchasing an additional 8,179 shares during the period. DekaBank Deutsche Girozentrale’s holdings in CareTrust REIT were worth $2,723,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in CareTrust REIT during the second quarter worth about $10,184,000. Private Trust Co. NA raised its stake in CareTrust REIT by 1,328.3% during the second quarter. Private Trust Co. NA now owns 2,828 shares of the real estate investment trust’s stock worth $87,000 after acquiring an additional 2,630 shares during the period. New York State Teachers Retirement System raised its stake in CareTrust REIT by 0.7% during the second quarter. New York State Teachers Retirement System now owns 222,356 shares of the real estate investment trust’s stock worth $6,804,000 after acquiring an additional 1,560 shares during the period. Envestnet Portfolio Solutions Inc. raised its stake in CareTrust REIT by 129.4% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 22,991 shares of the real estate investment trust’s stock worth $704,000 after acquiring an additional 12,969 shares during the period. Finally, Yousif Capital Management LLC raised its stake in CareTrust REIT by 3.3% during the second quarter. Yousif Capital Management LLC now owns 72,119 shares of the real estate investment trust’s stock worth $2,207,000 after acquiring an additional 2,299 shares during the period. Institutional investors and hedge funds own 87.77% of the company’s stock.

CareTrust REIT Stock Performance

Shares of CTRE stock opened at $35.17 on Friday. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.82 and a quick ratio of 3.82. The firm has a market capitalization of $7.67 billion, a price-to-earnings ratio of 44.51, a price-to-earnings-growth ratio of 1.25 and a beta of 0.82. CareTrust REIT, Inc. has a 12-month low of $24.79 and a 12-month high of $35.68. The business has a 50 day simple moving average of $34.30 and a 200 day simple moving average of $31.42.

CareTrust REIT Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th were given a $0.335 dividend. The ex-dividend date was Tuesday, September 30th. This represents a $1.34 annualized dividend and a yield of 3.8%. CareTrust REIT’s payout ratio is 111.67%.

Wall Street Analyst Weigh In

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

About CareTrust REIT

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.