Martingale Asset Management L P Sells 22,088 Shares of CareTrust REIT, Inc. $CTRE

Martingale Asset Management L P lessened its stake in shares of CareTrust REIT, Inc. (NASDAQ:CTRE) by 17.5% in the first quarter, Holdings Channel reports. The institutional investor owned 104,070 shares of the real estate investment trust’s stock after selling 22,088 shares during the quarter. Martingale Asset Management L P’s holdings in CareTrust REIT were worth $2,974,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. J. W. Coons Advisors LLC boosted its stake in CareTrust REIT by 4.1% during the first quarter. J. W. Coons Advisors LLC now owns 8,876 shares of the real estate investment trust’s stock valued at $254,000 after buying an additional 347 shares during the period. Quantinno Capital Management LP raised its holdings in shares of CareTrust REIT by 2.3% in the 4th quarter. Quantinno Capital Management LP now owns 17,482 shares of the real estate investment trust’s stock valued at $473,000 after acquiring an additional 385 shares in the last quarter. Envestnet Portfolio Solutions Inc. raised its holdings in shares of CareTrust REIT by 4.5% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 10,022 shares of the real estate investment trust’s stock valued at $286,000 after acquiring an additional 435 shares in the last quarter. GF Fund Management CO. LTD. boosted its position in shares of CareTrust REIT by 26.6% during the 1st quarter. GF Fund Management CO. LTD. now owns 3,548 shares of the real estate investment trust’s stock valued at $101,000 after acquiring an additional 746 shares during the last quarter. Finally, Xponance Inc. grew its holdings in shares of CareTrust REIT by 6.2% during the first quarter. Xponance Inc. now owns 14,203 shares of the real estate investment trust’s stock worth $406,000 after purchasing an additional 824 shares in the last quarter. 87.77% of the stock is owned by hedge funds and other institutional investors.

CareTrust REIT Stock Performance

NASDAQ:CTRE opened at $34.4890 on Friday. The company 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. The business has a 50 day moving average of $31.38 and a 200 day moving average of $29.07. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.82 and a quick ratio of 3.82. CareTrust REIT, Inc. has a 1-year low of $24.79 and a 1-year high of $34.73.

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 issued a $0.335 dividend. This represents a $1.34 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date was Monday, June 30th. CareTrust REIT’s payout ratio is presently 111.67%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on CTRE. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of CareTrust REIT in a research note on Monday, August 11th. KeyCorp increased their price target on shares of CareTrust REIT from $33.00 to $36.00 and gave the stock an “overweight” rating in a report on Thursday, August 14th. Finally, Wells Fargo & Company raised their price objective on shares of CareTrust REIT from $31.00 to $32.00 and gave the company an “overweight” rating in a research report on Monday, June 2nd. Four analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company 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.