CareTrust REIT, Inc. (NASDAQ:CTRE) Stock Holdings Increased by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. raised its holdings in shares of CareTrust REIT, Inc. (NASDAQ:CTRE) by 1.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 204,814 shares of the real estate investment trust’s stock after acquiring an additional 2,122 shares during the period. Sumitomo Mitsui Trust Group Inc. owned approximately 0.11% of CareTrust REIT worth $5,854,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Quantinno Capital Management LP raised its stake in shares of CareTrust REIT by 2.3% in the 4th quarter. Quantinno Capital Management LP now owns 17,482 shares of the real estate investment trust’s stock worth $473,000 after buying an additional 385 shares in the last quarter. Envestnet Portfolio Solutions Inc. raised its stake in shares of CareTrust REIT by 4.5% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 10,022 shares of the real estate investment trust’s stock worth $286,000 after buying an additional 435 shares in the last quarter. Signaturefd LLC grew its holdings in shares of CareTrust REIT by 20.3% in the 4th quarter. Signaturefd LLC now owns 2,628 shares of the real estate investment trust’s stock worth $71,000 after acquiring an additional 443 shares during the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of CareTrust REIT by 4.9% in the 4th quarter. PNC Financial Services Group Inc. now owns 11,384 shares of the real estate investment trust’s stock worth $308,000 after acquiring an additional 534 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC grew its holdings in shares of CareTrust REIT by 5.4% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 11,777 shares of the real estate investment trust’s stock worth $319,000 after acquiring an additional 601 shares during the last quarter. Institutional investors own 87.77% of the company’s stock.

CareTrust REIT Stock Performance

Shares of NASDAQ CTRE opened at $31.20 on Friday. 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 business’s 50 day moving average is $29.22 and its two-hundred day moving average is $27.87. The company has a market cap of $5.98 billion, a P/E ratio of 39.49, a P/E/G ratio of 1.25 and a beta of 0.83. CareTrust REIT, Inc. has a 12 month low of $24.79 and a 12 month high of $33.15.

CareTrust REIT Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be given a $0.335 dividend. This represents a $1.34 annualized dividend and a yield of 4.29%. The ex-dividend date of this dividend is Monday, June 30th. CareTrust REIT’s dividend payout ratio is currently 145.65%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on CTRE. Wells Fargo & Company lifted their price target on CareTrust REIT from $31.00 to $32.00 and gave the company an “overweight” rating in a report on Monday, June 2nd. Deutsche Bank Aktiengesellschaft raised CareTrust REIT from a “hold” rating to a “buy” rating and set a $31.00 price target for the company in a research report on Thursday, March 13th. Finally, Wedbush reaffirmed an “underperform” rating and issued a $26.00 price target on shares of CareTrust REIT in a research report on Friday, March 14th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $31.17.

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.