CareTrust REIT, Inc. $CTRE Shares Sold by Knights of Columbus Asset Advisors LLC

Knights of Columbus Asset Advisors LLC lowered its holdings in CareTrust REIT, Inc. (NASDAQ:CTRE) by 1.9% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 55,553 shares of the real estate investment trust’s stock after selling 1,068 shares during the period. Knights of Columbus Asset Advisors LLC’s holdings in CareTrust REIT were worth $1,700,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Nuveen LLC acquired a new position in shares of CareTrust REIT in the first quarter worth about $49,049,000. Vanguard Group Inc. boosted its holdings in shares of CareTrust REIT by 4.9% in the first quarter. Vanguard Group Inc. now owns 28,636,981 shares of the real estate investment trust’s stock worth $818,445,000 after buying an additional 1,336,348 shares during the period. Jupiter Asset Management Ltd. boosted its holdings in shares of CareTrust REIT by 5,756.5% in the first quarter. Jupiter Asset Management Ltd. now owns 1,181,431 shares of the real estate investment trust’s stock worth $33,765,000 after buying an additional 1,161,258 shares during the period. Alyeska Investment Group L.P. boosted its holdings in shares of CareTrust REIT by 51.3% in the first 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 buying an additional 710,006 shares during the period. Finally, Alliancebernstein L.P. boosted its holdings in shares of CareTrust REIT by 173.9% in the first quarter. Alliancebernstein L.P. now owns 682,066 shares of the real estate investment trust’s stock worth $19,493,000 after buying an additional 433,020 shares during the period. Institutional investors and hedge funds own 87.77% of the company’s stock.

CareTrust REIT Price Performance

NASDAQ CTRE opened at $35.12 on Tuesday. 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 stock has a market capitalization of $7.66 billion, a PE ratio of 44.45, a price-to-earnings-growth ratio of 1.25 and a beta of 0.82. The company has a 50 day moving average price of $33.89 and a two-hundred day moving average price of $30.86. CareTrust REIT, Inc. has a 12-month low of $24.79 and a 12-month high of $35.68.

CareTrust REIT Dividend Announcement

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

Analyst Ratings Changes

Several research analysts have commented on the stock. Wells Fargo & Company raised their target price on shares of CareTrust REIT from $32.00 to $38.00 and gave the stock an “overweight” rating in a report on Wednesday, August 27th. Raymond James Financial set a $39.00 target price on shares of CareTrust REIT and gave the stock a “strong-buy” rating in a report on Tuesday, September 2nd. Cantor Fitzgerald assumed coverage on shares of CareTrust REIT in a report on Wednesday, October 1st. They issued a “neutral” rating and a $37.00 target price for the company. KeyCorp raised their target price on shares of CareTrust REIT from $33.00 to $36.00 and gave the stock an “overweight” rating in a report on Thursday, August 14th. Finally, Royal Bank Of Canada restated an “outperform” rating on shares of CareTrust REIT in a report on Monday, August 11th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average 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.