CareTrust REIT, Inc. $CTRE Shares Bought by Metis Global Partners LLC

Metis Global Partners LLC raised its holdings in shares of CareTrust REIT, Inc. (NASDAQ:CTRE) by 33.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 31,718 shares of the real estate investment trust’s stock after acquiring an additional 7,945 shares during the period. Metis Global Partners LLC’s holdings in CareTrust REIT were worth $971,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in CTRE. Nuveen LLC acquired a new position in CareTrust REIT in the first quarter valued at approximately $49,049,000. Vanguard Group Inc. lifted its stake in shares of CareTrust REIT by 4.9% in the 1st quarter. Vanguard Group Inc. now owns 28,636,981 shares of the real estate investment trust’s stock valued at $818,445,000 after purchasing an additional 1,336,348 shares during the period. Jupiter Asset Management Ltd. boosted its holdings in CareTrust REIT by 5,756.5% during 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 in the last quarter. Alyeska Investment Group L.P. boosted its holdings in CareTrust REIT by 51.3% during 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 in the last quarter. Finally, Alliancebernstein L.P. grew its position in CareTrust REIT by 173.9% during the first quarter. Alliancebernstein L.P. now owns 682,066 shares of the real estate investment trust’s stock valued at $19,493,000 after buying an additional 433,020 shares during the period. 87.77% of the stock is owned by hedge funds and other institutional investors.

CareTrust REIT Stock Performance

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

CareTrust REIT Dividend Announcement

The company 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 dividend on an annualized basis and a yield of 3.7%. CareTrust REIT’s payout ratio is 100.00%.

Analyst Ratings Changes

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

CareTrust REIT 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.