Metis Global Partners LLC Raises Holdings in CareTrust REIT, Inc. $CTRE

Metis Global Partners LLC boosted its holdings in shares of CareTrust REIT, Inc. (NASDAQ:CTRE) by 33.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 31,718 shares of the real estate investment trust’s stock after acquiring an additional 7,945 shares during the quarter. Metis Global Partners LLC’s holdings in CareTrust REIT were worth $971,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. increased 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 purchasing an additional 1,336,348 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of CareTrust REIT by 2.4% during the first 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 acquiring an additional 68,693 shares during the last quarter. Northern Trust Corp raised 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 valued at $74,504,000 after acquiring an additional 137,202 shares during the period. Bank of New York Mellon Corp raised its stake 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 acquiring an additional 64,986 shares during the period. Finally, Alyeska Investment Group L.P. lifted its holdings in shares of CareTrust REIT by 51.3% in the 1st quarter. Alyeska Investment Group L.P. now owns 2,094,848 shares of the real estate investment trust’s stock worth $59,871,000 after acquiring an additional 710,006 shares during the last quarter. 87.77% of the stock is currently owned by hedge funds and other institutional investors.

CareTrust REIT Stock Performance

NASDAQ:CTRE opened at $36.50 on Wednesday. CareTrust REIT, Inc. has a 52 week low of $24.79 and a 52 week high of $37.19. The company has a fifty day simple moving average of $34.59 and a two-hundred day simple moving average of $32.08. 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 company has a market cap of $8.15 billion, a price-to-earnings ratio of 46.20, a price-to-earnings-growth ratio of 1.25 and a beta of 0.81.

CareTrust REIT Announces Dividend

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

Analyst Ratings Changes

Several analysts recently weighed in on the stock. Raymond James Financial set a $39.00 target price on shares of CareTrust REIT and gave the company a “strong-buy” rating in a report on Tuesday, September 2nd. KeyCorp lifted their price objective on CareTrust REIT from $33.00 to $36.00 and gave the company an “overweight” rating in a research note on Thursday, August 14th. Royal Bank Of Canada boosted their price objective on CareTrust REIT from $36.00 to $41.00 and gave the company an “outperform” rating in a report on Monday. Wells Fargo & Company increased their target price on CareTrust REIT from $32.00 to $38.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 27th. Finally, Cantor Fitzgerald started coverage on CareTrust REIT in a research report on Wednesday, October 1st. They issued a “neutral” rating and a $37.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $35.00.

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.