Versor Investments LP Takes Position in CareTrust REIT, Inc. $CTRE

Versor Investments LP purchased a new stake in shares of CareTrust REIT, Inc. (NASDAQ:CTRE) during the second quarter, Holdings Channel reports. The fund purchased 24,100 shares of the real estate investment trust’s stock, valued at approximately $737,000.

Other hedge funds have also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC raised its position in shares of CareTrust REIT by 21.8% during the first quarter. Allspring Global Investments Holdings LLC now owns 86,776 shares of the real estate investment trust’s stock worth $2,471,000 after acquiring an additional 15,523 shares during the last quarter. Principal Financial Group Inc. increased its holdings in CareTrust REIT by 3.0% in the first quarter. Principal Financial Group Inc. now owns 1,066,093 shares of the real estate investment trust’s stock worth $30,469,000 after purchasing an additional 31,279 shares in the last quarter. KBC Group NV increased its holdings in CareTrust REIT by 33.6% in the first quarter. KBC Group NV now owns 7,448 shares of the real estate investment trust’s stock worth $213,000 after purchasing an additional 1,875 shares in the last quarter. Jupiter Asset Management Ltd. increased its holdings in CareTrust REIT by 5,756.5% in the first quarter. Jupiter Asset Management Ltd. now owns 1,181,431 shares of the real estate investment trust’s stock worth $33,765,000 after purchasing an additional 1,161,258 shares in the last quarter. Finally, Cerity Partners LLC bought a new stake in CareTrust REIT in the first quarter worth approximately $255,000. 87.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on CTRE. Cantor Fitzgerald began coverage on CareTrust REIT in a report on Wednesday, October 1st. They issued a “neutral” rating and a $37.00 target price for the company. Raymond James Financial set a $39.00 target price on CareTrust REIT and gave the stock a “strong-buy” rating in a report on Tuesday, September 2nd. Wells Fargo & Company lifted their target price on CareTrust REIT from $32.00 to $38.00 and gave the stock an “overweight” rating in a report on Wednesday, August 27th. Royal Bank Of Canada reiterated an “outperform” rating on shares of CareTrust REIT in a report on Monday, August 11th. Finally, KeyCorp lifted their target price on CareTrust REIT from $33.00 to $36.00 and gave the stock an “overweight” rating in a report on Thursday, August 14th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, CareTrust REIT presently has a consensus rating of “Moderate Buy” and a consensus price target of $33.88.

CareTrust REIT Trading Up 1.8%

Shares of CareTrust REIT stock opened at $35.28 on Tuesday. The stock has a fifty day simple moving average of $34.39 and a 200 day simple moving average of $31.75. CareTrust REIT, Inc. has a 12-month low of $24.79 and a 12-month high of $35.88. The company has a market capitalization of $7.70 billion, a P/E ratio of 44.66, a price-to-earnings-growth ratio of 1.25 and a beta of 0.82. The company has a current ratio of 3.82, a quick ratio of 3.82 and a debt-to-equity ratio of 0.14.

CareTrust REIT Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th were issued a dividend of $0.335 per share. The ex-dividend date was Tuesday, September 30th. This represents a $1.34 annualized dividend and a yield of 3.8%. CareTrust REIT’s dividend payout ratio is 111.67%.

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.