Illinois Municipal Retirement Fund Acquires 10,590 Shares of CareTrust REIT, Inc. $CTRE

Illinois Municipal Retirement Fund lifted its holdings in shares of CareTrust REIT, Inc. (NASDAQ:CTRE) by 11.8% in the second quarter, Holdings Channel.com reports. The fund owned 100,454 shares of the real estate investment trust’s stock after purchasing an additional 10,590 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in CareTrust REIT were worth $3,074,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Parallel Advisors LLC raised its position in CareTrust REIT by 109.5% in the second quarter. Parallel Advisors LLC now owns 1,100 shares of the real estate investment trust’s stock worth $34,000 after purchasing an additional 575 shares in the last quarter. Twin Tree Management LP acquired a new position in shares of CareTrust REIT in the 1st quarter worth approximately $58,000. Private Trust Co. NA lifted its position in shares of CareTrust REIT by 1,328.3% during the 2nd quarter. Private Trust Co. NA now owns 2,828 shares of the real estate investment trust’s stock worth $87,000 after buying an additional 2,630 shares during the period. CWM LLC lifted its position in shares of CareTrust REIT by 47.6% during the 2nd quarter. CWM LLC now owns 2,955 shares of the real estate investment trust’s stock worth $90,000 after buying an additional 953 shares during the period. Finally, Bessemer Group Inc. boosted its stake in CareTrust REIT by 801.1% in the 2nd quarter. Bessemer Group Inc. now owns 3,307 shares of the real estate investment trust’s stock valued at $101,000 after buying an additional 2,940 shares in the last quarter. Institutional investors own 87.77% of the company’s stock.

CareTrust REIT Stock Down 1.3%

Shares of NASDAQ:CTRE opened at $35.72 on Friday. 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 firm has a market cap of $7.98 billion, a P/E ratio of 45.21, a P/E/G ratio of 1.25 and a beta of 0.81. CareTrust REIT, Inc. has a 12 month low of $24.79 and a 12 month high of $37.19. The company’s 50-day moving average price is $34.67 and its two-hundred day moving average price is $32.13.

CareTrust REIT Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th were issued a $0.335 dividend. The ex-dividend date of this dividend was Tuesday, September 30th. This represents a $1.34 dividend on an annualized basis and a dividend yield of 3.8%. CareTrust REIT’s dividend payout ratio (DPR) is currently 100.00%.

Wall Street Analysts Forecast Growth

CTRE has been the subject of several recent analyst reports. Cantor Fitzgerald assumed coverage on CareTrust REIT in a research note on Wednesday, October 1st. They set a “neutral” rating and a $37.00 price objective for the company. Royal Bank Of Canada increased their target price on shares of CareTrust REIT from $36.00 to $41.00 and gave the stock an “outperform” rating in a research report on Monday. Raymond James Financial set a $39.00 price target on shares of CareTrust REIT and gave the company a “strong-buy” rating in a research report on Tuesday, September 2nd. Wells Fargo & Company upped 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. Finally, KeyCorp lifted their target price on shares of CareTrust REIT from $33.00 to $36.00 and gave the company an “overweight” rating in a research note on Thursday, August 14th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $35.00.

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.