VIRGINIA RETIREMENT SYSTEMS ET Al Takes Position in CareTrust REIT, Inc. $CTRE

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of CareTrust REIT, Inc. (NASDAQ:CTRE) during the second quarter, HoldingsChannel.com reports. The institutional investor purchased 332,800 shares of the real estate investment trust’s stock, valued at approximately $10,184,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Parallel Advisors LLC lifted its holdings in shares of CareTrust REIT by 109.5% during the second quarter. Parallel Advisors LLC now owns 1,100 shares of the real estate investment trust’s stock valued at $34,000 after purchasing an additional 575 shares in the last quarter. Twin Tree Management LP bought a new position in shares of CareTrust REIT during the first quarter valued at $58,000. Private Trust Co. NA lifted its holdings in shares of CareTrust REIT by 1,328.3% during the second quarter. Private Trust Co. NA now owns 2,828 shares of the real estate investment trust’s stock valued at $87,000 after purchasing an additional 2,630 shares in the last quarter. CWM LLC lifted its holdings in shares of CareTrust REIT by 47.6% during the second quarter. CWM LLC now owns 2,955 shares of the real estate investment trust’s stock valued at $90,000 after purchasing an additional 953 shares in the last quarter. Finally, GF Fund Management CO. LTD. lifted its holdings in shares of CareTrust REIT by 26.6% during the first quarter. GF Fund Management CO. LTD. now owns 3,548 shares of the real estate investment trust’s stock valued at $101,000 after purchasing an additional 746 shares in the last quarter. 87.77% of the stock is owned by institutional investors.

CareTrust REIT Stock Up 1.7%

NASDAQ CTRE opened at $35.19 on Tuesday. CareTrust REIT, Inc. has a 52 week low of $24.79 and a 52 week high of $35.68. 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 capitalization of $7.67 billion, a P/E ratio of 44.54, a price-to-earnings-growth ratio of 1.25 and a beta of 0.82. The stock’s 50-day moving average price is $34.19 and its 200-day moving average price is $31.22.

CareTrust REIT Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th were given a dividend of $0.335 per share. This represents a $1.34 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date of this dividend was Tuesday, September 30th. CareTrust REIT’s payout ratio is presently 111.67%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of CareTrust REIT in a report on Monday, August 11th. Wells Fargo & Company raised their target price on CareTrust REIT from $32.00 to $38.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 27th. 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 on the stock. KeyCorp raised their target price on CareTrust REIT from $33.00 to $36.00 and gave the stock an “overweight” rating in a research report on Thursday, August 14th. Finally, Raymond James Financial set a $39.00 target price on CareTrust REIT and gave the stock a “strong-buy” rating in a research report on Tuesday, September 2nd. One investment 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 assigned a Sell rating to the company. According to MarketBeat, CareTrust REIT has a consensus rating of “Moderate Buy” and a consensus price target of $33.88.

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.