CareTrust REIT, Inc. $CTRE Shares Acquired by Intech Investment Management LLC

Intech Investment Management LLC increased its holdings in shares of CareTrust REIT, Inc. (NASDAQ:CTRE) by 74.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 276,041 shares of the real estate investment trust’s stock after purchasing an additional 117,399 shares during the period. Intech Investment Management LLC owned 0.14% of CareTrust REIT worth $7,889,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Vanguard Group Inc. boosted its stake in CareTrust REIT by 4.9% during the 1st quarter. Vanguard Group Inc. now owns 28,636,981 shares of the real estate investment trust’s stock worth $818,445,000 after purchasing an additional 1,336,348 shares during the period. Charles Schwab Investment Management Inc. raised its position in CareTrust REIT by 2.4% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,960,372 shares of the real estate investment trust’s stock worth $84,607,000 after buying an additional 68,693 shares during the last quarter. Northern Trust Corp raised its position in CareTrust REIT by 5.6% during the 1st quarter. Northern Trust Corp now owns 2,606,842 shares of the real estate investment trust’s stock worth $74,504,000 after buying an additional 137,202 shares during the last quarter. Nuveen Asset Management LLC raised its position in CareTrust REIT by 75.8% during the 4th quarter. Nuveen Asset Management LLC now owns 2,395,809 shares of the real estate investment trust’s stock worth $64,807,000 after buying an additional 1,032,848 shares during the last quarter. Finally, Two Sigma Advisers LP raised its position in CareTrust REIT by 70.9% during the 4th quarter. Two Sigma Advisers LP now owns 2,388,900 shares of the real estate investment trust’s stock worth $64,620,000 after buying an additional 991,400 shares during the last quarter. Institutional investors and hedge funds own 87.77% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Raymond James Financial set a $39.00 price objective on shares of CareTrust REIT and gave the stock a “strong-buy” rating in a research report on Tuesday, September 2nd. Royal Bank Of Canada reiterated an “outperform” rating on shares of CareTrust REIT in a report on Monday, August 11th. Wells Fargo & Company raised their target price on shares of CareTrust REIT from $32.00 to $38.00 and gave the company an “overweight” rating in a report on Wednesday, August 27th. Finally, KeyCorp raised their price target on shares of CareTrust REIT from $33.00 to $36.00 and gave the stock an “overweight” rating in a research note on Thursday, August 14th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $33.43.

CareTrust REIT Stock Up 1.0%

Shares of NASDAQ:CTRE opened at $34.20 on Friday. The firm has a market cap of $7.46 billion, a PE ratio of 43.30, a price-to-earnings-growth ratio of 1.25 and a beta of 0.84. The company has a fifty day simple moving average of $32.61 and a 200 day simple moving average of $29.92. 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, Inc. has a 12-month low of $24.79 and a 12-month high of $34.92.

CareTrust REIT Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th were issued a dividend of $0.335 per share. The ex-dividend date of this dividend was Monday, June 30th. This represents a $1.34 annualized dividend and a dividend yield of 3.9%. CareTrust REIT’s 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.