CareTrust REIT, Inc. $CTRE Shares Sold by Prime Capital Investment Advisors LLC

Prime Capital Investment Advisors LLC cut its holdings in shares of CareTrust REIT, Inc. (NASDAQ:CTRE) by 2.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 16,005 shares of the real estate investment trust’s stock after selling 427 shares during the period. Prime Capital Investment Advisors LLC’s holdings in CareTrust REIT were worth $490,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in CTRE. Allspring Global Investments Holdings LLC lifted its position in shares of CareTrust REIT by 21.8% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 86,776 shares of the real estate investment trust’s stock valued at $2,471,000 after acquiring an additional 15,523 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in shares of CareTrust REIT by 3.0% during the first quarter. Principal Financial Group Inc. now owns 1,066,093 shares of the real estate investment trust’s stock valued at $30,469,000 after purchasing an additional 31,279 shares during the last quarter. KBC Group NV lifted its holdings in shares of CareTrust REIT by 33.6% during the first quarter. KBC Group NV now owns 7,448 shares of the real estate investment trust’s stock valued at $213,000 after purchasing an additional 1,875 shares during the last quarter. Cambridge Investment Research Advisors Inc. lifted its holdings in shares of CareTrust REIT by 8.1% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 48,495 shares of the real estate investment trust’s stock valued at $1,386,000 after purchasing an additional 3,626 shares during the last quarter. Finally, Asset Management One Co. Ltd. lifted its holdings in shares of CareTrust REIT by 4.0% during the first quarter. Asset Management One Co. Ltd. now owns 416,091 shares of the real estate investment trust’s stock valued at $11,892,000 after purchasing an additional 16,008 shares during the last quarter. 87.77% of the stock is owned by institutional investors and hedge funds.

CareTrust REIT Price Performance

NASDAQ CTRE opened at $33.19 on Friday. The company has a 50 day simple moving average of $34.07 and a 200-day simple moving average of $30.97. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.82 and a quick ratio of 3.82. The firm has a market capitalization of $7.24 billion, a price-to-earnings ratio of 42.01, a price-to-earnings-growth ratio of 1.25 and a beta of 0.82. CareTrust REIT, Inc. has a 52-week low of $24.79 and a 52-week high of $35.68.

CareTrust REIT Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th will be given a $0.335 dividend. The ex-dividend date is Tuesday, September 30th. This represents a $1.34 dividend on an annualized basis and a yield of 4.0%. CareTrust REIT’s dividend payout ratio is presently 111.67%.

Analyst Upgrades and Downgrades

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