Bank of New York Mellon Corp Has $74.66 Million Holdings in CareTrust REIT, Inc. $CTRE

Bank of New York Mellon Corp grew its holdings in shares of CareTrust REIT, Inc. (NASDAQ:CTRE) by 2.7% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,439,849 shares of the real estate investment trust’s stock after buying an additional 64,986 shares during the period. Bank of New York Mellon Corp owned approximately 1.27% of CareTrust REIT worth $74,659,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Parallel Advisors LLC boosted its stake in CareTrust REIT by 109.5% during the second quarter. Parallel Advisors LLC now owns 1,100 shares of the real estate investment trust’s stock worth $34,000 after acquiring an additional 575 shares in the last quarter. Twin Tree Management LP acquired a new position in shares of CareTrust REIT during the first quarter valued at about $58,000. Private Trust Co. NA boosted 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 worth $87,000 after purchasing an additional 2,630 shares in the last quarter. CWM LLC boosted its position in shares of CareTrust REIT by 47.6% during the 2nd quarter. CWM LLC now owns 2,955 shares of the real estate investment trust’s stock worth $90,000 after purchasing an additional 953 shares in the last quarter. Finally, Bessemer Group Inc. grew its stake in shares of CareTrust REIT by 801.1% in the 2nd quarter. Bessemer Group Inc. now owns 3,307 shares of the real estate investment trust’s stock valued at $101,000 after buying an additional 2,940 shares during the period. Institutional investors own 87.77% of the company’s stock.

CareTrust REIT Price Performance

Shares of NASDAQ:CTRE opened at $36.16 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 stock has a market cap of $7.89 billion, a PE ratio of 45.78, a price-to-earnings-growth ratio of 1.25 and a beta of 0.81. The stock’s fifty day simple moving average is $34.50 and its two-hundred day simple moving average is $31.93. CareTrust REIT, Inc. has a 1-year low of $24.79 and a 1-year high of $36.55.

CareTrust REIT Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th were issued a dividend of $0.335 per share. The ex-dividend date was Tuesday, September 30th. This represents a $1.34 annualized dividend and a yield of 3.7%. CareTrust REIT’s payout ratio is 111.67%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Raymond James Financial set a $39.00 price target on CareTrust REIT and gave the stock a “strong-buy” rating in a report on Tuesday, September 2nd. 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. Royal Bank Of Canada restated an “outperform” rating on shares of CareTrust REIT in a research note on Monday, August 11th. KeyCorp upped their price objective on shares of CareTrust REIT from $33.00 to $36.00 and gave the stock an “overweight” rating in a report on Thursday, August 14th. Finally, Wells Fargo & Company lifted their price objective on shares of CareTrust REIT from $32.00 to $38.00 and gave the company an “overweight” rating in a report on Wednesday, August 27th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target 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.