LPL Financial LLC Grows Position in CareTrust REIT, Inc. (NASDAQ:CTRE)

LPL Financial LLC boosted its stake in shares of CareTrust REIT, Inc. (NASDAQ:CTRE) by 37.7% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 128,675 shares of the real estate investment trust’s stock after purchasing an additional 35,253 shares during the period. LPL Financial LLC’s holdings in CareTrust REIT were worth $3,678,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Quarry LP lifted 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 valued at $50,000 after purchasing an additional 1,525 shares in the last quarter. Fifth Third Bancorp lifted 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 valued at $57,000 after purchasing an additional 1,355 shares in the last quarter. Glen Eagle Advisors LLC purchased a new position in CareTrust REIT during the fourth quarter valued at $56,000. GF Fund Management CO. LTD. purchased a new position in CareTrust REIT during the fourth quarter valued at $76,000. Finally, State of Wyoming purchased a new position in CareTrust REIT during the fourth quarter valued at $152,000. 87.77% of the stock is currently owned by hedge funds and other institutional investors.

CareTrust REIT Price Performance

NASDAQ:CTRE opened at $33.85 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 simple moving average is $30.97 and its two-hundred day simple moving average is $28.86. The stock has a market cap of $6.78 billion, a PE ratio of 42.85, a P/E/G ratio of 1.25 and a beta of 0.85. CareTrust REIT, Inc. has a 52 week low of $24.79 and a 52 week high of $34.00.

CareTrust REIT Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th were issued a dividend of $0.335 per share. The ex-dividend date of this dividend was Monday, June 30th. This represents a $1.34 dividend on an annualized basis and a yield of 4.0%. CareTrust REIT’s dividend payout ratio (DPR) is currently 111.67%.

Analysts Set New Price Targets

Several research firms recently weighed in on CTRE. KeyCorp lifted their target price on CareTrust REIT from $33.00 to $36.00 and gave the company an “overweight” rating in a research report on Thursday. Royal Bank Of Canada reissued an “outperform” rating on shares of CareTrust REIT in a report on Monday. Finally, Wells Fargo & Company raised 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. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, CareTrust REIT currently has an average rating of “Moderate Buy” and a consensus price target of $31.50.

CareTrust REIT Company 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.