Erste Asset Management GmbH Sells 2,100 Shares of CareTrust REIT, Inc. $CTRE

Erste Asset Management GmbH cut its position in shares of CareTrust REIT, Inc. (NASDAQ:CTRE) by 4.7% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 42,200 shares of the real estate investment trust’s stock after selling 2,100 shares during the period. Erste Asset Management GmbH’s holdings in CareTrust REIT were worth $1,222,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of CTRE. Nuveen LLC bought a new stake in CareTrust REIT during the 1st quarter valued at $49,049,000. Balyasny Asset Management L.P. increased its holdings in shares of CareTrust REIT by 149.6% in the 4th quarter. Balyasny Asset Management L.P. now owns 2,708,664 shares of the real estate investment trust’s stock valued at $73,269,000 after acquiring an additional 1,623,297 shares during the period. Vanguard Group Inc. increased its holdings in shares of CareTrust REIT by 4.9% in the 1st quarter. Vanguard Group Inc. now owns 28,636,981 shares of the real estate investment trust’s stock valued at $818,445,000 after acquiring an additional 1,336,348 shares during the period. Jupiter Asset Management Ltd. increased its holdings in shares of CareTrust REIT by 5,756.5% in the 1st quarter. Jupiter Asset Management Ltd. now owns 1,181,431 shares of the real estate investment trust’s stock valued at $33,765,000 after acquiring an additional 1,161,258 shares during the period. Finally, Nuveen Asset Management LLC increased its holdings in shares of CareTrust REIT by 75.8% in the 4th quarter. Nuveen Asset Management LLC now owns 2,395,809 shares of the real estate investment trust’s stock valued at $64,807,000 after acquiring an additional 1,032,848 shares during the period. 87.77% of the stock is owned by institutional investors.

CareTrust REIT Stock Up 0.5%

CareTrust REIT stock opened at $34.4890 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 $7.52 billion, a price-to-earnings ratio of 43.66, a PEG ratio of 1.25 and a beta of 0.85. CareTrust REIT, Inc. has a 1-year low of $24.79 and a 1-year high of $34.73. The business has a fifty day moving average price of $31.38 and a 200-day moving average price of $29.07.

CareTrust REIT Dividend Announcement

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. The ex-dividend date of this dividend was Monday, June 30th. This represents a $1.34 dividend on an annualized basis and a dividend yield of 3.9%. CareTrust REIT’s dividend payout ratio (DPR) is presently 111.67%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports 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. Royal Bank Of Canada reiterated an “outperform” rating on shares of CareTrust REIT in a report on Monday, August 11th. Finally, KeyCorp lifted their price target on CareTrust REIT from $33.00 to $36.00 and gave the company an “overweight” rating in a report on Thursday, August 14th. Four equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus 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.