Golden State Equity Partners Boosts Stake in CareTrust REIT, Inc. (NASDAQ:CTRE)

Golden State Equity Partners lifted its holdings in shares of CareTrust REIT, Inc. (NASDAQ:CTRE) by 449.6% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 38,872 shares of the real estate investment trust’s stock after acquiring an additional 31,799 shares during the quarter. Golden State Equity Partners’ holdings in CareTrust REIT were worth $1,051,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of CTRE. Newbridge Financial Services Group Inc. bought a new position in CareTrust REIT during the 2nd quarter valued at about $27,000. Blue Trust Inc. raised its holdings in shares of CareTrust REIT by 178.3% during the third quarter. Blue Trust Inc. now owns 1,205 shares of the real estate investment trust’s stock valued at $37,000 after purchasing an additional 772 shares during the last quarter. Versant Capital Management Inc lifted its position in CareTrust REIT by 98.8% during the fourth quarter. Versant Capital Management Inc now owns 1,495 shares of the real estate investment trust’s stock valued at $40,000 after purchasing an additional 743 shares during the period. Loomis Sayles & Co. L P boosted its holdings in CareTrust REIT by 5,527.8% in the third quarter. Loomis Sayles & Co. L P now owns 2,026 shares of the real estate investment trust’s stock worth $63,000 after purchasing an additional 1,990 shares during the last quarter. Finally, Signaturefd LLC boosted its holdings in CareTrust REIT by 55.0% in the third quarter. Signaturefd LLC now owns 2,185 shares of the real estate investment trust’s stock worth $67,000 after purchasing an additional 775 shares during the last quarter. 87.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CTRE has been the topic of several research analyst reports. BMO Capital Markets cut CareTrust REIT from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $34.00 to $32.00 in a report on Monday, December 9th. Wedbush downgraded CareTrust REIT from a “neutral” rating to an “underperform” rating and lowered their target price for the company from $34.00 to $26.00 in a report on Thursday, January 2nd. Finally, KeyCorp raised their target price on CareTrust REIT from $27.00 to $34.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $30.67.

CareTrust REIT Price Performance

Shares of CareTrust REIT stock opened at $26.52 on Friday. The stock’s fifty day moving average is $27.69 and its 200 day moving average is $28.96. CareTrust REIT, Inc. has a one year low of $20.10 and a one year high of $33.15. The company has a debt-to-equity ratio of 0.16, a quick ratio of 7.60 and a current ratio of 7.60. The stock has a market cap of $4.55 billion, a P/E ratio of 36.83, a P/E/G ratio of 1.24 and a beta of 1.09.

CareTrust REIT Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were given a dividend of $0.29 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $1.16 dividend on an annualized basis and a dividend yield of 4.37%. CareTrust REIT’s payout ratio is currently 161.11%.

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.