CareTrust REIT, Inc. (NASDAQ:CTRE) Shares Purchased by Arizona State Retirement System

Arizona State Retirement System raised its stake in shares of CareTrust REIT, Inc. (NASDAQ:CTRE) by 20.1% in the 1st quarter, HoldingsChannel.com reports. The firm owned 53,731 shares of the real estate investment trust’s stock after purchasing an additional 8,978 shares during the quarter. Arizona State Retirement System’s holdings in CareTrust REIT were worth $1,536,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Quarry LP increased its position in CareTrust REIT by 463.5% during the fourth quarter. Quarry LP now owns 1,854 shares of the real estate investment trust’s stock worth $50,000 after purchasing an additional 1,525 shares during the last quarter. Fifth Third Bancorp increased its position in CareTrust REIT by 217.5% during the first quarter. Fifth Third Bancorp now owns 1,978 shares of the real estate investment trust’s stock worth $57,000 after purchasing an additional 1,355 shares during the last quarter. Glen Eagle Advisors LLC acquired a new position in CareTrust REIT during the fourth quarter worth approximately $56,000. Signaturefd LLC increased its position in CareTrust REIT by 20.3% during the fourth quarter. Signaturefd LLC now owns 2,628 shares of the real estate investment trust’s stock worth $71,000 after purchasing an additional 443 shares during the last quarter. Finally, GF Fund Management CO. LTD. acquired a new position in CareTrust REIT during the fourth quarter worth approximately $76,000. Institutional investors and hedge funds own 87.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Wells Fargo & Company boosted their price objective on shares of CareTrust REIT from $31.00 to $32.00 and gave the stock an “overweight” rating in a research note on Monday, June 2nd. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, CareTrust REIT currently has a consensus rating of “Moderate Buy” and an average target price of $31.17.

CareTrust REIT Price Performance

CareTrust REIT stock opened at $30.30 on Friday. CareTrust REIT, Inc. has a 52-week low of $24.79 and a 52-week high of $33.15. The firm has a fifty day moving average of $29.64 and a 200-day moving average of $28.13. The firm has a market capitalization of $5.81 billion, a P/E ratio of 38.35, a PEG ratio of 1.25 and a beta of 0.84. 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 firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th were given a $0.335 dividend. This represents a $1.34 annualized dividend and a dividend yield of 4.42%. The ex-dividend date of this dividend was Monday, June 30th. CareTrust REIT’s payout ratio is currently 145.65%.

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.