CareTrust REIT, Inc. $CTRE Shares Purchased by Prudential Financial Inc.

Prudential Financial Inc. grew its holdings in shares of CareTrust REIT, Inc. (NASDAQ:CTRE) by 36.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 694,987 shares of the real estate investment trust’s stock after purchasing an additional 186,601 shares during the period. Prudential Financial Inc. owned about 0.35% of CareTrust REIT worth $21,267,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Nuveen LLC purchased a new position in CareTrust REIT in the first quarter valued at $49,049,000. Vanguard Group Inc. increased its stake in shares of CareTrust REIT by 4.9% during the first quarter. Vanguard Group Inc. now owns 28,636,981 shares of the real estate investment trust’s stock worth $818,445,000 after buying an additional 1,336,348 shares during the period. Jupiter Asset Management Ltd. lifted its stake 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 acquiring an additional 1,161,258 shares during the last quarter. Alyeska Investment Group L.P. grew its holdings in CareTrust REIT by 51.3% during the 1st quarter. Alyeska Investment Group L.P. now owns 2,094,848 shares of the real estate investment trust’s stock worth $59,871,000 after acquiring an additional 710,006 shares in the last quarter. Finally, Alliancebernstein L.P. increased its position in shares of CareTrust REIT by 173.9% in the 1st quarter. Alliancebernstein L.P. now owns 682,066 shares of the real estate investment trust’s stock valued at $19,493,000 after purchasing an additional 433,020 shares during the last quarter. 87.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Wells Fargo & Company lifted their price objective on shares of CareTrust REIT from $38.00 to $41.00 and gave the stock an “overweight” rating in a research report on Tuesday. KeyCorp increased their price objective on CareTrust REIT from $33.00 to $36.00 and gave the company an “overweight” rating in a report on Thursday, August 14th. Cantor Fitzgerald assumed coverage on CareTrust REIT in a research report on Wednesday, October 1st. They set a “neutral” rating and a $37.00 target price on the stock. UBS Group began coverage on CareTrust REIT in a research note on Tuesday, November 18th. They set a “buy” rating and a $42.00 target price for the company. Finally, Raymond James Financial set a $39.00 price objective on shares of CareTrust REIT and gave the stock a “strong-buy” rating in a report on Tuesday, September 2nd. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $36.11.

CareTrust REIT Stock Up 1.7%

Shares of NASDAQ CTRE opened at $37.15 on Wednesday. The business has a 50-day moving average price of $35.06 and a 200 day moving average price of $32.60. The stock has a market cap of $8.29 billion, a PE ratio of 47.02, a price-to-earnings-growth ratio of 1.25 and a beta of 0.81. The company has a quick ratio of 3.82, a current ratio of 3.82 and a debt-to-equity ratio of 0.14. CareTrust REIT, Inc. has a 52-week low of $24.79 and a 52-week high of $37.60.

CareTrust REIT Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th were given a dividend of $0.335 per share. The ex-dividend date was Tuesday, September 30th. This represents a $1.34 dividend on an annualized basis and a dividend yield of 3.6%. CareTrust REIT’s dividend payout ratio (DPR) is 100.00%.

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.