CareTrust REIT, Inc. (NASDAQ:CTRE) Stock Holdings Boosted by LPL Financial LLC

LPL Financial LLC boosted its stake in CareTrust REIT, Inc. (NASDAQ:CTRE) by 37.7% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 128,675 shares of the real estate investment trust’s stock after buying 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.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Wells Fargo & Company MN lifted its holdings in CareTrust REIT by 20.5% in the 4th quarter. Wells Fargo & Company MN now owns 283,387 shares of the real estate investment trust’s stock valued at $7,666,000 after acquiring an additional 48,139 shares during the last quarter. Sterling Capital Management LLC raised its position in CareTrust REIT by 4,585.3% during the fourth quarter. Sterling Capital Management LLC now owns 21,740 shares of the real estate investment trust’s stock valued at $588,000 after acquiring an additional 21,276 shares in the last quarter. Summit Investment Advisors Inc. raised its position in CareTrust REIT by 34.4% during the fourth quarter. Summit Investment Advisors Inc. now owns 19,426 shares of the real estate investment trust’s stock valued at $525,000 after acquiring an additional 4,974 shares in the last quarter. Barclays PLC raised its position in shares of CareTrust REIT by 60.3% in the fourth quarter. Barclays PLC now owns 416,459 shares of the real estate investment trust’s stock valued at $11,265,000 after purchasing an additional 156,639 shares during the period. Finally, Mariner LLC raised its position in shares of CareTrust REIT by 12.9% in the fourth quarter. Mariner LLC now owns 10,924 shares of the real estate investment trust’s stock valued at $295,000 after purchasing an additional 1,250 shares during the period. Institutional investors own 87.77% of the company’s stock.

CareTrust REIT Stock Up 0.4%

Shares of NASDAQ CTRE opened at $33.85 on Friday. The stock has a market cap of $6.78 billion, a PE ratio of 42.85, a PEG ratio of 1.25 and a beta of 0.85. The business has a fifty day moving average of $30.97 and a two-hundred day moving average of $28.86. CareTrust REIT, Inc. has a 52-week low of $24.79 and a 52-week high of $34.00. 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 Announces Dividend

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

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. KeyCorp raised their price objective on shares of CareTrust REIT from $33.00 to $36.00 and gave the stock an “overweight” rating in a research note on Thursday. Royal Bank Of Canada restated an “outperform” rating on shares of CareTrust REIT in a research note on Monday. Finally, 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 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 given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $31.50.

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.