Aberdeen Group plc Buys 6,214 Shares of CareTrust REIT, Inc. $CTRE

Aberdeen Group plc grew its stake in shares of CareTrust REIT, Inc. (NASDAQ:CTRE) by 9.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 69,450 shares of the real estate investment trust’s stock after buying an additional 6,214 shares during the period. Aberdeen Group plc’s holdings in CareTrust REIT were worth $2,125,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of CTRE. Parallel Advisors LLC increased its holdings in shares of CareTrust REIT by 109.5% in the second quarter. Parallel Advisors LLC now owns 1,100 shares of the real estate investment trust’s stock worth $34,000 after purchasing an additional 575 shares during the period. Fifth Third Bancorp grew its position in CareTrust REIT by 217.5% during the first quarter. Fifth Third Bancorp now owns 1,978 shares of the real estate investment trust’s stock worth $57,000 after buying an additional 1,355 shares in the last quarter. Twin Tree Management LP bought a new position in CareTrust REIT in the 1st quarter worth about $58,000. GF Fund Management CO. LTD. raised its holdings in shares of CareTrust REIT by 26.6% in the 1st quarter. GF Fund Management CO. LTD. now owns 3,548 shares of the real estate investment trust’s stock valued at $101,000 after acquiring an additional 746 shares in the last quarter. Finally, Pandora Wealth Inc. purchased a new position in shares of CareTrust REIT during the first quarter worth about $120,000. 87.77% of the stock is currently owned by institutional investors.

CareTrust REIT Stock Performance

Shares of NASDAQ:CTRE opened at $34.55 on Friday. The company has a current ratio of 3.82, a quick ratio of 3.82 and a debt-to-equity ratio of 0.14. The company has a 50-day moving average price of $34.14 and a 200-day moving average price of $31.14. The company has a market cap of $7.54 billion, a price-to-earnings ratio of 43.74, a price-to-earnings-growth ratio of 1.25 and a beta of 0.82. CareTrust REIT, Inc. has a 12 month low of $24.79 and a 12 month high of $35.68.

CareTrust REIT Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th were given a dividend of $0.335 per share. This represents a $1.34 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date of this dividend was Tuesday, September 30th. CareTrust REIT’s payout ratio is presently 111.67%.

Analysts Set New Price Targets

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