7,049 Shares in CareTrust REIT, Inc. $CTRE Purchased by Prudent Man Advisors LLC

Prudent Man Advisors LLC acquired a new position in shares of CareTrust REIT, Inc. (NASDAQ:CTRE) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 7,049 shares of the real estate investment trust’s stock, valued at approximately $216,000.

Several other large investors have also made changes to their positions in the business. D.A. Davidson & CO. lifted 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 worth $1,219,000 after purchasing an additional 327 shares during the last quarter. J. W. Coons Advisors LLC lifted its position in shares of CareTrust REIT by 4.1% during the 1st quarter. J. W. Coons Advisors LLC now owns 8,876 shares of the real estate investment trust’s stock worth $254,000 after purchasing an additional 347 shares during the last quarter. Norinchukin Bank The lifted its position in shares of CareTrust REIT by 4.6% during the 1st quarter. Norinchukin Bank The now owns 8,662 shares of the real estate investment trust’s stock worth $248,000 after purchasing an additional 382 shares during the last quarter. Envestnet Portfolio Solutions Inc. lifted its position in shares of CareTrust REIT by 4.5% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 10,022 shares of the real estate investment trust’s stock worth $286,000 after purchasing an additional 435 shares during the last quarter. Finally, Smartleaf Asset Management LLC lifted its position in shares of CareTrust REIT by 10.4% during the 1st quarter. Smartleaf Asset Management LLC now owns 5,555 shares of the real estate investment trust’s stock worth $161,000 after purchasing an additional 523 shares during the last quarter. Institutional investors and hedge funds own 87.77% of the company’s stock.

CareTrust REIT Stock Performance

CTRE stock opened at $35.17 on Monday. The business’s fifty day moving average is $34.30 and its 200-day moving average is $31.44. 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 company has a market cap of $7.67 billion, a P/E ratio of 44.51, a price-to-earnings-growth ratio of 1.25 and a beta of 0.82. CareTrust REIT, Inc. has a twelve month low of $24.79 and a twelve month high of $35.68.

CareTrust REIT Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th were paid 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 is 111.67%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on CTRE. KeyCorp boosted 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. Raymond James Financial set a $39.00 price target on CareTrust REIT and gave the stock a “strong-buy” rating in a research report on Tuesday, September 2nd. Royal Bank Of Canada restated an “outperform” rating on shares of CareTrust REIT in a research report on Monday, August 11th. Finally, Cantor Fitzgerald initiated coverage on CareTrust REIT in a research report on Wednesday, October 1st. They issued a “neutral” rating and a $37.00 price objective on the stock. One equities 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 given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $33.88.

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.