Gamco Investors INC. ET AL Takes $1.66 Million Position in CareTrust REIT, Inc. $CTRE

Gamco Investors INC. ET AL purchased a new position in shares of CareTrust REIT, Inc. (NASDAQ:CTRE) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 54,149 shares of the real estate investment trust’s stock, valued at approximately $1,657,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Segall Bryant & Hamill LLC lifted its holdings in shares of CareTrust REIT by 33.5% in the 2nd quarter. Segall Bryant & Hamill LLC now owns 722,727 shares of the real estate investment trust’s stock worth $22,115,000 after purchasing an additional 181,280 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH raised its holdings in CareTrust REIT by 34.0% during the second quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 306,495 shares of the real estate investment trust’s stock worth $9,379,000 after buying an additional 77,720 shares during the last quarter. Nomura Asset Management Co. Ltd. raised its holdings in CareTrust REIT by 4.4% during the second quarter. Nomura Asset Management Co. Ltd. now owns 271,310 shares of the real estate investment trust’s stock worth $8,302,000 after buying an additional 11,440 shares during the last quarter. Metis Global Partners LLC lifted its stake in shares of CareTrust REIT by 33.4% in the second quarter. Metis Global Partners LLC now owns 31,718 shares of the real estate investment trust’s stock valued at $971,000 after buying an additional 7,945 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D acquired a new position in shares of CareTrust REIT during the second quarter valued at about $2,035,000. Institutional investors and hedge funds own 87.77% of the company’s stock.

CareTrust REIT Stock Performance

CTRE stock opened at $36.80 on Thursday. The firm has a market cap of $8.22 billion, a PE ratio of 46.59, a P/E/G ratio of 1.25 and a beta of 0.77. The company has a quick ratio of 3.82, a current ratio of 3.82 and a debt-to-equity ratio of 0.14. The business has a 50 day moving average of $35.71 and a 200-day moving average of $33.25. CareTrust REIT, Inc. has a 12-month low of $24.79 and a 12-month high of $38.32.

CareTrust REIT Dividend Announcement

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

Wall Street Analyst Weigh In

A number of research firms recently weighed in on CTRE. KeyCorp upped their target price on shares of CareTrust REIT from $36.00 to $40.00 and gave the stock an “overweight” rating in a report on Thursday, December 4th. Wells Fargo & Company lifted their price target on CareTrust REIT from $38.00 to $41.00 and gave the company an “overweight” rating in a research note on Tuesday, November 25th. Raymond James Financial set a $39.00 price objective on CareTrust REIT and gave the stock a “strong-buy” rating in a research note on Tuesday, September 2nd. UBS Group began coverage on CareTrust REIT in a report on Tuesday, November 18th. They issued a “buy” rating and a $42.00 target price on the stock. Finally, Royal Bank Of Canada lifted their target price on CareTrust REIT from $36.00 to $41.00 and gave the company an “outperform” rating in a research report on Monday, November 10th. One 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 given a Sell rating to the company’s stock. According to data from MarketBeat.com, CareTrust REIT has a consensus rating of “Moderate Buy” and an average target price of $37.13.

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.