Knights of Columbus Asset Advisors LLC Has $1.70 Million Stock Holdings in CareTrust REIT, Inc. $CTRE

Knights of Columbus Asset Advisors LLC cut its holdings in CareTrust REIT, Inc. (NASDAQ:CTRE) by 1.9% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 55,553 shares of the real estate investment trust’s stock after selling 1,068 shares during the quarter. Knights of Columbus Asset Advisors LLC’s holdings in CareTrust REIT were worth $1,700,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in shares of CareTrust REIT by 4.9% in the first quarter. Vanguard Group Inc. now owns 28,636,981 shares of the real estate investment trust’s stock valued at $818,445,000 after purchasing an additional 1,336,348 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of CareTrust REIT by 2.4% in the first quarter. Charles Schwab Investment Management Inc. now owns 2,960,372 shares of the real estate investment trust’s stock valued at $84,607,000 after purchasing an additional 68,693 shares during the period. Northern Trust Corp raised its position in shares of CareTrust REIT by 5.6% in the first quarter. Northern Trust Corp now owns 2,606,842 shares of the real estate investment trust’s stock valued at $74,504,000 after purchasing an additional 137,202 shares during the period. Alyeska Investment Group L.P. raised its position in shares of CareTrust REIT by 51.3% in the first quarter. Alyeska Investment Group L.P. now owns 2,094,848 shares of the real estate investment trust’s stock valued at $59,871,000 after purchasing an additional 710,006 shares during the period. Finally, Nuveen LLC bought a new position in shares of CareTrust REIT in the first quarter valued at approximately $49,049,000. 87.77% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. KeyCorp lifted their price target on shares of CareTrust REIT from $33.00 to $36.00 and gave the company an “overweight” rating in a research report on Thursday, August 14th. Wells Fargo & Company lifted their price target on shares of CareTrust REIT from $32.00 to $38.00 and gave the company an “overweight” rating in a research report on Wednesday, August 27th. Royal Bank Of Canada reissued an “outperform” rating on shares of CareTrust REIT in a research report on Monday, August 11th. 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 report on Tuesday, September 2nd. Finally, Cantor Fitzgerald initiated coverage on shares of CareTrust REIT in a research report on Wednesday, October 1st. They issued 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 assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $33.88.

CareTrust REIT Trading Down 1.1%

Shares of CTRE stock opened at $35.12 on Tuesday. CareTrust REIT, Inc. has a 1 year low of $24.79 and a 1 year high of $35.68. The firm’s fifty day simple moving average is $33.89 and its 200 day simple moving average is $30.86. The firm has a market capitalization of $7.66 billion, a P/E ratio of 44.45, 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 Dividend Announcement

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

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.