Aberdeen Group plc Has $2.13 Million Holdings in CareTrust REIT, Inc. $CTRE

Aberdeen Group plc boosted its position in shares of CareTrust REIT, Inc. (NASDAQ:CTRE) by 9.8% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 69,450 shares of the real estate investment trust’s stock after purchasing an additional 6,214 shares during the quarter. Aberdeen Group plc’s holdings in CareTrust REIT were worth $2,125,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Monument Capital Management bought a new stake in CareTrust REIT in the 2nd quarter valued at $259,000. Total Wealth Planning & Management Inc. bought a new stake in CareTrust REIT in the 2nd quarter valued at $327,000. Castellan Group lifted its stake in shares of CareTrust REIT by 7.1% during the 2nd quarter. Castellan Group now owns 117,716 shares of the real estate investment trust’s stock worth $3,602,000 after buying an additional 7,762 shares during the last quarter. Vontobel Holding Ltd. boosted its stake in CareTrust REIT by 10.7% in the 2nd quarter. Vontobel Holding Ltd. now owns 18,107 shares of the real estate investment trust’s stock valued at $554,000 after purchasing an additional 1,749 shares during the period. Finally, Maryland State Retirement & Pension System increased its position in CareTrust REIT by 2.8% during the second quarter. Maryland State Retirement & Pension System now owns 56,334 shares of the real estate investment trust’s stock worth $1,724,000 after acquiring an additional 1,533 shares during the period. 87.77% of the stock is owned by institutional investors.

CareTrust REIT Stock Up 2.3%

CareTrust REIT stock opened at $34.55 on Friday. The company has a market capitalization of $7.54 billion, a PE ratio of 43.74, a PEG ratio of 1.25 and a beta of 0.82. The firm’s fifty day moving average is $34.14 and its 200 day moving average is $31.14. 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 12-month low of $24.79 and a 12-month high of $35.68.

CareTrust REIT Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th were given a dividend of $0.335 per share. The ex-dividend date of this dividend was Tuesday, September 30th. This represents a $1.34 annualized dividend and a dividend yield of 3.9%. CareTrust REIT’s dividend payout ratio (DPR) is currently 111.67%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Wells Fargo & Company boosted their price target on CareTrust REIT from $32.00 to $38.00 and gave the company an “overweight” rating in a research note on Wednesday, August 27th. 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 for the company. Royal Bank Of Canada restated an “outperform” rating on shares of CareTrust REIT in a research report on Monday, August 11th. KeyCorp boosted their price target on CareTrust REIT from $33.00 to $36.00 and gave the company an “overweight” rating in a research note on Thursday, August 14th. 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 research note on Tuesday, September 2nd. One investment 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 given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus 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.