CareTrust REIT, Inc. $CTRE Shares Sold by Tributary Capital Management LLC

Tributary Capital Management LLC reduced its stake in shares of CareTrust REIT, Inc. (NASDAQ:CTRE) by 7.0% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 482,829 shares of the real estate investment trust’s stock after selling 36,402 shares during the period. Tributary Capital Management LLC owned approximately 0.25% of CareTrust REIT worth $14,775,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the business. D.A. Davidson & CO. grew its position in shares of CareTrust REIT by 0.8% during the 2nd quarter. D.A. Davidson & CO. now owns 39,849 shares of the real estate investment trust’s stock valued at $1,219,000 after acquiring an additional 327 shares during the period. DekaBank Deutsche Girozentrale grew its position in shares of CareTrust REIT by 10.0% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 89,898 shares of the real estate investment trust’s stock valued at $2,723,000 after acquiring an additional 8,179 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of CareTrust REIT during the 2nd quarter valued at about $10,184,000. Private Trust Co. NA grew 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 valued at $87,000 after acquiring an additional 2,630 shares during the period. Finally, New York State Teachers Retirement System grew its position in shares of CareTrust REIT by 0.7% during the 2nd quarter. New York State Teachers Retirement System now owns 222,356 shares of the real estate investment trust’s stock valued at $6,804,000 after acquiring an additional 1,560 shares during the period. 87.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Cantor Fitzgerald assumed coverage on CareTrust REIT in a research report on Wednesday, October 1st. They set a “neutral” rating and a $37.00 target price on the stock. 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 note on Tuesday, September 2nd. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of CareTrust REIT in a research note on Monday, August 11th. Wells Fargo & Company raised their price target on shares of CareTrust REIT from $32.00 to $38.00 and gave the company an “overweight” rating in a research note on Wednesday, August 27th. Finally, KeyCorp raised their price target 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 equities research 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 issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $33.88.

CareTrust REIT Stock Up 1.9%

CTRE stock opened at $34.97 on Thursday. The firm has a market cap of $7.63 billion, a PE ratio of 44.26, a PEG ratio of 1.25 and a beta of 0.82. 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 firm’s 50 day moving average price is $34.25 and its 200-day moving average price is $31.27. CareTrust REIT, Inc. has a one year low of $24.79 and a one year high of $35.68.

CareTrust REIT Dividend Announcement

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

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.