Cambridge Investment Research Advisors Inc. Buys 3,626 Shares of CareTrust REIT, Inc. (NASDAQ:CTRE)

Cambridge Investment Research Advisors Inc. raised its holdings in CareTrust REIT, Inc. (NASDAQ:CTRE) by 8.1% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 48,495 shares of the real estate investment trust’s stock after buying an additional 3,626 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in CareTrust REIT were worth $1,386,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in CTRE. Mutual of America Capital Management LLC grew its position in CareTrust REIT by 22.3% during the fourth quarter. Mutual of America Capital Management LLC now owns 28,374 shares of the real estate investment trust’s stock worth $768,000 after buying an additional 5,181 shares in the last quarter. Metis Global Partners LLC raised its position in CareTrust REIT by 21.3% during the 4th quarter. Metis Global Partners LLC now owns 19,266 shares of the real estate investment trust’s stock worth $521,000 after purchasing an additional 3,388 shares during the last quarter. Smartleaf Asset Management LLC raised its position in CareTrust REIT by 56.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 5,032 shares of the real estate investment trust’s stock worth $135,000 after purchasing an additional 1,806 shares during the last quarter. Steward Partners Investment Advisory LLC raised its position in shares of CareTrust REIT by 3.8% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 181,116 shares of the real estate investment trust’s stock worth $4,899,000 after acquiring an additional 6,651 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of CareTrust REIT by 24.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,891,679 shares of the real estate investment trust’s stock worth $78,220,000 after acquiring an additional 568,634 shares in the last quarter. Institutional investors and hedge funds own 87.77% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft upgraded CareTrust REIT from a “hold” rating to a “buy” rating and set a $31.00 price target for the company in a research note on Thursday, March 13th. Wells Fargo & Company lifted their price target on shares of CareTrust REIT from $31.00 to $32.00 and gave the stock an “overweight” rating in a report on Monday, June 2nd. Finally, Wedbush restated an “underperform” rating and set a $26.00 target price on shares of CareTrust REIT in a research report on Friday, March 14th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company. According to MarketBeat, CareTrust REIT has a consensus rating of “Moderate Buy” and a consensus target price of $31.17.

CareTrust REIT Stock Up 1.6%

NASDAQ CTRE opened at $31.20 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 stock has a market capitalization of $5.98 billion, a PE ratio of 39.49, a PEG ratio of 1.25 and a beta of 0.83. CareTrust REIT, Inc. has a 1 year low of $24.79 and a 1 year high of $33.15. The business’s 50-day moving average is $29.22 and its 200 day moving average is $27.87.

CareTrust REIT Announces Dividend

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

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.