CareTrust REIT, Inc. $CTRE Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC cut its stake in shares of CareTrust REIT, Inc. (NASDAQ:CTRE) by 9.9% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 24,624 shares of the real estate investment trust’s stock after selling 2,704 shares during the quarter. Mutual of America Capital Management LLC’s holdings in CareTrust REIT were worth $753,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in CTRE. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in CareTrust REIT during the 2nd quarter worth about $10,184,000. Private Trust Co. NA lifted 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 purchasing an additional 2,630 shares during the last quarter. New York State Teachers Retirement System boosted its holdings in CareTrust REIT by 0.7% in the second quarter. New York State Teachers Retirement System now owns 222,356 shares of the real estate investment trust’s stock valued at $6,804,000 after purchasing an additional 1,560 shares in the last quarter. Envestnet Portfolio Solutions Inc. boosted its holdings in CareTrust REIT by 129.4% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 22,991 shares of the real estate investment trust’s stock valued at $704,000 after purchasing an additional 12,969 shares in the last quarter. Finally, Yousif Capital Management LLC increased its stake in CareTrust REIT by 3.3% in the second quarter. Yousif Capital Management LLC now owns 72,119 shares of the real estate investment trust’s stock valued at $2,207,000 after purchasing an additional 2,299 shares during the last quarter. 87.77% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Royal Bank Of Canada restated an “outperform” rating on shares of CareTrust REIT in a report on Monday, August 11th. Raymond James Financial set a $39.00 price objective on shares of CareTrust REIT and gave the company a “strong-buy” rating in a research note on Tuesday, September 2nd. Cantor Fitzgerald initiated coverage on CareTrust REIT in a research report on Wednesday, October 1st. They set a “neutral” rating and a $37.00 target price on the stock. Wells Fargo & Company boosted their target price on CareTrust REIT from $32.00 to $38.00 and gave the company an “overweight” rating in a report on Wednesday, August 27th. Finally, KeyCorp raised their price target on CareTrust REIT from $33.00 to $36.00 and gave the stock an “overweight” rating in a research note on Thursday, August 14th. One equities research 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 company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $33.88.

CareTrust REIT Price Performance

CTRE opened at $35.71 on Tuesday. The company has a market capitalization of $7.79 billion, a P/E ratio of 45.21, a PEG ratio of 1.25 and a beta of 0.82. The company has a 50-day moving average of $34.35 and a 200-day moving average of $31.50. The company has a debt-to-equity ratio of 0.14, a quick ratio of 3.82 and a current ratio of 3.82. CareTrust REIT, Inc. has a 1-year low of $24.79 and a 1-year high of $35.74.

CareTrust REIT Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th were given a $0.335 dividend. This represents a $1.34 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date was Tuesday, September 30th. 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.