Blue Trust Inc. Purchases 603 Shares of CareTrust REIT, Inc. (NASDAQ:CTRE)

Blue Trust Inc. lifted its position in CareTrust REIT, Inc. (NASDAQ:CTRE) by 50.0% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 1,808 shares of the real estate investment trust’s stock after acquiring an additional 603 shares during the period. Blue Trust Inc.’s holdings in CareTrust REIT were worth $49,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in CTRE. JPMorgan Chase & Co. grew its stake in shares of CareTrust REIT by 381.2% in the third quarter. JPMorgan Chase & Co. now owns 6,878,379 shares of the real estate investment trust’s stock valued at $212,267,000 after buying an additional 5,448,904 shares in the last quarter. FMR LLC boosted its position in CareTrust REIT by 209.9% during the third quarter. FMR LLC now owns 5,224,896 shares of the real estate investment trust’s stock worth $161,240,000 after purchasing an additional 3,538,798 shares during the period. Heitman Real Estate Securities LLC bought a new position in CareTrust REIT during the third quarter worth $27,534,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in CareTrust REIT by 344.0% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 951,535 shares of the real estate investment trust’s stock worth $29,364,000 after purchasing an additional 737,236 shares during the period. Finally, Wellington Management Group LLP boosted its position in CareTrust REIT by 5.5% during the third quarter. Wellington Management Group LLP now owns 12,798,055 shares of the real estate investment trust’s stock worth $394,948,000 after purchasing an additional 670,348 shares during the period. 87.77% of the stock is owned by institutional investors.

CareTrust REIT Stock Down 0.2 %

CTRE opened at $26.33 on Monday. CareTrust REIT, Inc. has a fifty-two week low of $20.57 and a fifty-two week high of $33.15. The company has a debt-to-equity ratio of 0.16, a quick ratio of 7.60 and a current ratio of 7.60. The company has a market capitalization of $4.51 billion, a P/E ratio of 36.56, a P/E/G ratio of 1.24 and a beta of 1.09. The stock has a fifty day moving average of $27.35 and a 200-day moving average of $28.96.

CareTrust REIT Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were issued a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 4.41%. The ex-dividend date of this dividend was Tuesday, December 31st. CareTrust REIT’s dividend payout ratio is currently 161.11%.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. BMO Capital Markets cut shares of CareTrust REIT from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $34.00 to $32.00 in a research report on Monday, December 9th. Wedbush cut shares of CareTrust REIT from a “neutral” rating to an “underperform” rating and reduced their price objective for the stock from $34.00 to $26.00 in a research report on Thursday, January 2nd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $30.67.

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.