CareTrust REIT, Inc. $CTRE Shares Sold by WealthShield Partners LLC

WealthShield Partners LLC lessened its position in CareTrust REIT, Inc. (NASDAQ:CTRE) by 49.5% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 47,995 shares of the real estate investment trust’s stock after selling 47,028 shares during the period. WealthShield Partners LLC’s holdings in CareTrust REIT were worth $1,469,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of CTRE. Vanguard Group Inc. grew its holdings in CareTrust REIT by 4.9% during the first quarter. Vanguard Group Inc. now owns 28,636,981 shares of the real estate investment trust’s stock worth $818,445,000 after acquiring an additional 1,336,348 shares during the period. Geode Capital Management LLC boosted its position in shares of CareTrust REIT by 1.7% during the 2nd quarter. Geode Capital Management LLC now owns 5,003,751 shares of the real estate investment trust’s stock valued at $153,132,000 after purchasing an additional 84,904 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of 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 valued at $84,607,000 after purchasing an additional 68,693 shares in the last quarter. Northern Trust Corp grew its stake in shares of CareTrust REIT by 5.6% in 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 purchasing an additional 137,202 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in shares of CareTrust REIT by 2.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,439,849 shares of the real estate investment trust’s stock worth $74,659,000 after purchasing an additional 64,986 shares in the last quarter. Institutional investors own 87.77% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on CTRE. Cantor Fitzgerald initiated coverage on shares of CareTrust REIT in a report on Wednesday, October 1st. They set a “neutral” rating and a $37.00 target price for the company. KeyCorp lifted their target price on CareTrust REIT from $33.00 to $36.00 and gave the stock 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 research report on Tuesday, September 2nd. Royal Bank Of Canada boosted their price objective on CareTrust REIT from $36.00 to $41.00 and gave the stock an “outperform” rating in a report on Monday, November 10th. Finally, Wells Fargo & Company lifted their target price on shares of CareTrust REIT from $32.00 to $38.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 27th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, CareTrust REIT has a consensus rating of “Moderate Buy” and an average target price of $35.00.

CareTrust REIT Stock Up 0.4%

NASDAQ:CTRE opened at $35.88 on Friday. The business’s fifty day moving average price is $34.71 and its 200 day moving average price is $32.21. The firm has a market capitalization of $8.01 billion, a price-to-earnings ratio of 45.41, a PEG ratio of 1.25 and a beta of 0.81. 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 1-year low of $24.79 and a 1-year high of $37.19.

CareTrust REIT Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th were given a $0.335 dividend. This represents a $1.34 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date of this dividend was Tuesday, September 30th. CareTrust REIT’s dividend payout ratio is 100.00%.

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.