Quantbot Technologies LP Sells 73,265 Shares of CareTrust REIT, Inc. $CTRE

Quantbot Technologies LP cut its position in shares of CareTrust REIT, Inc. (NASDAQ:CTRE) by 75.9% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 23,296 shares of the real estate investment trust’s stock after selling 73,265 shares during the period. Quantbot Technologies LP’s holdings in CareTrust REIT were worth $713,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. grew its position in shares of CareTrust REIT by 4.9% during the 1st quarter. Vanguard Group Inc. now owns 28,636,981 shares of the real estate investment trust’s stock worth $818,445,000 after buying an additional 1,336,348 shares in the last quarter. Geode Capital Management LLC lifted its stake in CareTrust REIT by 1.7% in the second quarter. Geode Capital Management LLC now owns 5,003,751 shares of the real estate investment trust’s stock worth $153,132,000 after acquiring an additional 84,904 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in CareTrust REIT by 4.6% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 3,095,764 shares of the real estate investment trust’s stock worth $94,730,000 after acquiring an additional 135,392 shares in the last quarter. Northern Trust Corp increased its position in CareTrust REIT by 5.6% during the 1st 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. 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 valued at $74,659,000 after purchasing an additional 64,986 shares in the last quarter. 87.77% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on CTRE shares. Wells Fargo & Company increased their price objective on shares of CareTrust REIT from $38.00 to $41.00 and gave the company an “overweight” rating in a research note on Tuesday, November 25th. UBS Group began coverage on CareTrust REIT in a report on Tuesday, November 18th. They issued a “buy” rating and a $42.00 price target on the stock. Raymond James Financial set a $39.00 price target on CareTrust REIT and gave the stock a “strong-buy” rating in a research report on Tuesday, September 2nd. KeyCorp raised their price objective on CareTrust REIT from $36.00 to $40.00 and gave the company an “overweight” rating in a research report on Thursday, December 4th. Finally, Cantor Fitzgerald began coverage on CareTrust REIT in a research note on Wednesday, October 1st. They issued a “neutral” rating and a $37.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $37.13.

CareTrust REIT Stock Performance

Shares of CTRE opened at $37.51 on Wednesday. CareTrust REIT, Inc. has a 12 month low of $24.79 and a 12 month high of $38.32. The stock has a fifty day moving average price of $35.68 and a 200-day moving average price of $33.22. The company has a current ratio of 3.82, a quick ratio of 3.82 and a debt-to-equity ratio of 0.14. The firm has a market cap of $8.37 billion, a PE ratio of 47.48, a P/E/G ratio of 1.25 and a beta of 0.77.

CareTrust REIT Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th were paid a $0.335 dividend. The ex-dividend date was Tuesday, September 30th. This represents a $1.34 dividend on an annualized basis and a yield of 3.6%. CareTrust REIT’s dividend payout ratio (DPR) is 100.00%.

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.