Wealth Quarterback LLC Invests $237,000 in CareTrust REIT, Inc. $CTRE

Wealth Quarterback LLC bought a new position in shares of CareTrust REIT, Inc. (NASDAQ:CTRE) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 7,751 shares of the real estate investment trust’s stock, valued at approximately $237,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. D.A. Davidson & CO. raised its holdings in CareTrust REIT by 0.8% in the 2nd quarter. D.A. Davidson & CO. now owns 39,849 shares of the real estate investment trust’s stock valued at $1,219,000 after acquiring an additional 327 shares during the period. J. W. Coons Advisors LLC boosted its holdings in shares of CareTrust REIT by 4.1% during the first quarter. J. W. Coons Advisors LLC now owns 8,876 shares of the real estate investment trust’s stock worth $254,000 after acquiring an additional 347 shares during the period. Norinchukin Bank The grew its position in shares of CareTrust REIT by 4.6% in the first quarter. Norinchukin Bank The now owns 8,662 shares of the real estate investment trust’s stock valued at $248,000 after purchasing an additional 382 shares during the last quarter. Smartleaf Asset Management LLC increased its stake in shares of CareTrust REIT by 10.4% during the first quarter. Smartleaf Asset Management LLC now owns 5,555 shares of the real estate investment trust’s stock worth $161,000 after purchasing an additional 523 shares during the period. Finally, Moody National Bank Trust Division increased its stake in shares of CareTrust REIT by 2.1% during the second quarter. Moody National Bank Trust Division now owns 26,483 shares of the real estate investment trust’s stock worth $810,000 after purchasing an additional 548 shares during the period. Institutional investors and hedge funds own 87.77% of the company’s stock.

Analysts Set New Price Targets

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

CareTrust REIT Stock Down 0.4%

Shares of NASDAQ CTRE opened at $36.50 on Wednesday. The stock has a market capitalization of $8.15 billion, a P/E ratio of 46.20, a PEG ratio of 1.25 and a beta of 0.81. The stock’s fifty day moving average is $34.59 and its 200 day moving average is $32.08. CareTrust REIT, Inc. has a 52 week low of $24.79 and a 52 week high of $37.19. The company has a debt-to-equity ratio of 0.14, a quick ratio of 3.82 and a current ratio of 3.82.

CareTrust REIT Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th were issued a $0.335 dividend. 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 dividend payout ratio (DPR) is currently 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.