CareTrust REIT, Inc. $CTRE Shares Purchased by Private Trust Co. NA

Private Trust Co. NA grew its position in shares of CareTrust REIT, Inc. (NASDAQ:CTRE) by 1,328.3% during the second quarter, HoldingsChannel reports. The institutional investor owned 2,828 shares of the real estate investment trust’s stock after buying an additional 2,630 shares during the quarter. Private Trust Co. NA’s holdings in CareTrust REIT were worth $87,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Parallel Advisors LLC raised its position in shares of CareTrust REIT by 109.5% during the 2nd quarter. Parallel Advisors LLC now owns 1,100 shares of the real estate investment trust’s stock valued at $34,000 after acquiring an additional 575 shares in the last quarter. Twin Tree Management LP bought a new stake in CareTrust REIT during the first quarter valued at $58,000. CWM LLC raised 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 worth $90,000 after purchasing an additional 953 shares during the period. GF Fund Management CO. LTD. lifted its position in shares of CareTrust REIT by 26.6% in the 1st quarter. GF Fund Management CO. LTD. now owns 3,548 shares of the real estate investment trust’s stock worth $101,000 after buying an additional 746 shares during the last quarter. Finally, Pandora Wealth Inc. bought a new position in shares of CareTrust REIT in the 1st quarter worth about $120,000. 87.77% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

CTRE has been the topic of several research reports. Wells Fargo & Company increased 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. KeyCorp upped their target price on CareTrust REIT from $33.00 to $36.00 and gave the company an “overweight” rating in a report on Thursday, August 14th. Raymond James Financial set a $39.00 price target on CareTrust REIT and gave the stock a “strong-buy” rating in a report on Tuesday, September 2nd. Cantor Fitzgerald started coverage on CareTrust REIT in a research report on Wednesday, October 1st. They set a “neutral” rating and a $37.00 price objective for the company. Finally, Royal Bank Of Canada restated an “outperform” rating on shares of CareTrust REIT in a research note on Monday, August 11th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $33.88.

CareTrust REIT Price Performance

Shares of NASDAQ:CTRE opened at $34.97 on Thursday. The firm’s 50 day moving average is $34.25 and its two-hundred day moving average is $31.27. The firm has a market capitalization of $7.63 billion, a P/E ratio of 44.26, a PEG ratio of 1.25 and a beta of 0.82. The company has a current ratio of 3.82, a quick ratio of 3.82 and a debt-to-equity ratio of 0.14. CareTrust REIT, Inc. has a 52 week low of $24.79 and a 52 week high of $35.68.

CareTrust REIT Announces Dividend

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

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.