380,588 Shares in CareTrust REIT, Inc. $CTRE Acquired by Copeland Capital Management LLC

Copeland Capital Management LLC acquired a new position in CareTrust REIT, Inc. (NASDAQ:CTRE) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 380,588 shares of the real estate investment trust’s stock, valued at approximately $11,646,000.

A number of other hedge funds also recently added to or reduced their stakes in CTRE. Wealth Enhancement Advisory Services LLC purchased a new position in CareTrust REIT in the 4th quarter worth approximately $204,000. GAMMA Investing LLC raised its holdings in CareTrust REIT by 2,116.7% in the 1st quarter. GAMMA Investing LLC now owns 89,398 shares of the real estate investment trust’s stock worth $2,555,000 after acquiring an additional 85,365 shares during the last quarter. Hennion & Walsh Asset Management Inc. raised its holdings in CareTrust REIT by 194.2% in the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 41,606 shares of the real estate investment trust’s stock worth $1,189,000 after acquiring an additional 27,466 shares during the last quarter. Handelsbanken Fonder AB raised its holdings in CareTrust REIT by 10.9% in the 1st quarter. Handelsbanken Fonder AB now owns 48,646 shares of the real estate investment trust’s stock worth $1,390,000 after acquiring an additional 4,800 shares during the last quarter. Finally, Fifth Third Bancorp lifted its holdings in shares of CareTrust REIT by 217.5% during the 1st quarter. Fifth Third Bancorp now owns 1,978 shares of the real estate investment trust’s stock valued at $57,000 after buying an additional 1,355 shares during the period. 87.77% of the stock is currently owned by hedge funds and other institutional investors.

CareTrust REIT Trading Up 1.1%

NASDAQ:CTRE opened at $35.46 on Friday. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.82 and a quick ratio of 3.82. The firm has a market capitalization of $7.73 billion, a price-to-earnings ratio of 44.88, a price-to-earnings-growth ratio of 1.25 and a beta of 0.82. CareTrust REIT, Inc. has a one year low of $24.79 and a one year high of $35.68. The business has a fifty day moving average price of $33.79 and a 200-day moving average price of $30.79.

CareTrust REIT Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be paid a $0.335 dividend. This represents a $1.34 annualized dividend and a dividend yield of 3.8%. The ex-dividend date is Tuesday, September 30th. CareTrust REIT’s dividend payout ratio is 111.67%.

Analysts Set New Price Targets

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

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.