Strs Ohio Sells 53,300 Shares of CareTrust REIT, Inc. $CTRE

Strs Ohio lowered its holdings in shares of CareTrust REIT, Inc. (NASDAQ:CTRE) by 13.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 339,560 shares of the real estate investment trust’s stock after selling 53,300 shares during the period. Strs Ohio owned approximately 0.18% of CareTrust REIT worth $10,391,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. Amalgamated Bank boosted its position in shares of CareTrust REIT by 1.8% in the 2nd quarter. Amalgamated Bank now owns 54,457 shares of the real estate investment trust’s stock worth $1,666,000 after purchasing an additional 953 shares in the last quarter. Teacher Retirement System of Texas boosted its holdings in CareTrust REIT by 27.8% in the second quarter. Teacher Retirement System of Texas now owns 119,849 shares of the real estate investment trust’s stock worth $3,667,000 after acquiring an additional 26,080 shares in the last quarter. Bessemer Group Inc. boosted its holdings in CareTrust REIT by 801.1% in the second quarter. Bessemer Group Inc. now owns 3,307 shares of the real estate investment trust’s stock worth $101,000 after acquiring an additional 2,940 shares in the last quarter. Envestnet Asset Management Inc. boosted its stake in CareTrust REIT by 43.5% in the 2nd quarter. Envestnet Asset Management Inc. now owns 220,811 shares of the real estate investment trust’s stock worth $6,757,000 after purchasing an additional 66,957 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. bought a new position in CareTrust REIT in the 2nd quarter worth about $284,000. 87.77% of the stock is owned by institutional investors.

CareTrust REIT Stock Up 1.0%

Shares of CareTrust REIT stock opened at $34.71 on Friday. The company has a market cap of $7.57 billion, a price-to-earnings ratio of 43.93, a price-to-earnings-growth ratio of 1.25 and a beta of 0.82. The company’s 50 day moving average is $34.37 and its 200 day moving average is $31.68. CareTrust REIT, Inc. has a twelve month low of $24.79 and a twelve month high of $35.81. 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 Dividend Announcement

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

Analysts Set New Price Targets

A number of equities analysts recently issued reports on CTRE shares. KeyCorp upped 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. Wells Fargo & Company upped their price objective on CareTrust REIT from $32.00 to $38.00 and gave the company an “overweight” rating in a research report on Wednesday, August 27th. Cantor Fitzgerald assumed coverage on CareTrust REIT in a research report on Wednesday, October 1st. They issued a “neutral” rating and a $37.00 price objective on the stock. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of CareTrust REIT in a research report on Monday, August 11th. Finally, 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. 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’s stock. According to data from MarketBeat.com, CareTrust REIT presently has a consensus rating of “Moderate Buy” and an average target price of $33.88.

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.