Intech Investment Management LLC Buys 102,136 Shares of CareTrust REIT, Inc. $CTRE

Intech Investment Management LLC raised its stake in CareTrust REIT, Inc. (NASDAQ:CTRE) by 37.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 378,177 shares of the real estate investment trust’s stock after acquiring an additional 102,136 shares during the quarter. Intech Investment Management LLC’s holdings in CareTrust REIT were worth $11,572,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of CTRE. D.A. Davidson & CO. raised its holdings in shares of CareTrust REIT by 0.8% in the 2nd quarter. D.A. Davidson & CO. now owns 39,849 shares of the real estate investment trust’s stock worth $1,219,000 after purchasing an additional 327 shares during the period. J. W. Coons Advisors LLC increased its position in CareTrust REIT by 4.1% in the first quarter. J. W. Coons Advisors LLC now owns 8,876 shares of the real estate investment trust’s stock worth $254,000 after buying an additional 347 shares during the last quarter. Norinchukin Bank The raised its stake in shares of CareTrust REIT by 4.6% in the first quarter. Norinchukin Bank The now owns 8,662 shares of the real estate investment trust’s stock valued at $248,000 after buying an additional 382 shares during the period. Smartleaf Asset Management LLC raised its stake in shares of CareTrust REIT by 10.4% in the first quarter. Smartleaf Asset Management LLC now owns 5,555 shares of the real estate investment trust’s stock valued at $161,000 after buying an additional 523 shares during the period. Finally, Moody National Bank Trust Division lifted its position in shares of CareTrust REIT by 2.1% during the 2nd quarter. Moody National Bank Trust Division now owns 26,483 shares of the real estate investment trust’s stock valued at $810,000 after buying an additional 548 shares during the last quarter. 87.77% of the stock is owned by institutional investors.

CareTrust REIT Stock Performance

CareTrust REIT stock opened at $35.88 on Friday. CareTrust REIT, Inc. has a 1-year low of $24.79 and a 1-year high of $37.19. The company has a current ratio of 3.82, a quick ratio of 3.82 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $8.01 billion, a PE ratio of 45.41, a price-to-earnings-growth ratio of 1.25 and a beta of 0.81. The firm’s 50 day simple moving average is $34.71 and its 200 day simple moving average is $32.21.

CareTrust REIT Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th were issued a $0.335 dividend. The ex-dividend date of this dividend was Tuesday, September 30th. This represents a $1.34 annualized dividend and a dividend yield of 3.7%. CareTrust REIT’s dividend payout ratio is presently 100.00%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on CTRE. Royal Bank Of Canada lifted their price objective on CareTrust REIT from $36.00 to $41.00 and gave the stock an “outperform” rating in a report on Monday, November 10th. Wells Fargo & Company increased their target price on shares of CareTrust REIT from $32.00 to $38.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 27th. Cantor Fitzgerald assumed coverage on shares of CareTrust REIT in a research note 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 price target on shares of CareTrust REIT and gave the company a “strong-buy” rating in a research note on Tuesday, September 2nd. Finally, 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 report on Thursday, August 14th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $35.00.

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.