Commonwealth of Pennsylvania Public School Empls Retrmt SYS Purchases 1,523 Shares of CareTrust REIT, Inc. (NASDAQ:CTRE)

Posted by Defense World Staff on Aug 18th, 2023

Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in CareTrust REIT, Inc. (NASDAQ:CTRE – Free Report) by 1.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 105,366 shares of the real estate investment trust’s stock after acquiring an additional 1,523 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS owned 0.11% of CareTrust REIT worth $2,063,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in CTRE. CWM LLC boosted its holdings in CareTrust REIT by 77.3% in the first quarter. CWM LLC now owns 2,129 shares of the real estate investment trust’s stock valued at $42,000 after acquiring an additional 928 shares during the last quarter. Point72 Middle East FZE bought a new position in CareTrust REIT in the fourth quarter valued at about $84,000. Tower Research Capital LLC TRC boosted its holdings in CareTrust REIT by 63.4% in the third quarter. Tower Research Capital LLC TRC now owns 7,445 shares of the real estate investment trust’s stock valued at $135,000 after acquiring an additional 2,890 shares during the last quarter. Coppell Advisory Solutions Corp. bought a new position in CareTrust REIT in the fourth quarter valued at about $137,000. Finally, MBM Wealth Consultants LLC boosted its holdings in CareTrust REIT by 54.5% in the fourth quarter. MBM Wealth Consultants LLC now owns 7,245 shares of the real estate investment trust’s stock valued at $138,000 after acquiring an additional 2,555 shares during the last quarter. Institutional investors own 86.32% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on CTRE shares. BMO Capital Markets upgraded CareTrust REIT from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $23.50 to $24.00 in a report on Wednesday. StockNews.com started coverage on CareTrust REIT in a report on Thursday. They set a “hold” rating on the stock. Berenberg Bank started coverage on CareTrust REIT in a report on Thursday, July 27th. They set a “buy” rating and a $23.00 target price on the stock. Finally, TheStreet cut CareTrust REIT from a “b-” rating to a “c” rating in a report on Friday, August 4th. Three analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $21.83.

Check Out Our Latest Stock Report on CTRE

CareTrust REIT Trading Down 1.1 %

NASDAQ:CTRE opened at $19.59 on Friday. CareTrust REIT, Inc. has a fifty-two week low of $16.22 and a fifty-two week high of $22.09. The company has a debt-to-equity ratio of 1.08, a current ratio of 0.07 and a quick ratio of 0.07. The stock has a market capitalization of $1.95 billion, a PE ratio of 55.97 and a beta of 1.11. The business’s 50-day simple moving average is $20.13 and its 200-day simple moving average is $19.76.

CareTrust REIT Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, July 14th. Investors of record on Friday, June 30th were given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 5.72%. The ex-dividend date of this dividend was Thursday, June 29th. This is a positive change from CareTrust REIT’s previous quarterly dividend of $0.28. CareTrust REIT’s dividend payout ratio (DPR) is currently 320.00%.

CareTrust REIT Profile

(Free Report)

CareTrust REIT, Inc is a self-administered, publicly-traded real estate investment trust engaged in the ownership, acquisition, development and leasing of skilled nursing, seniors housing and other healthcare-related properties. With a nationwide portfolio of long-term net-leased properties, and a growing portfolio of quality operators leasing them, CareTrust REIT is pursuing both external and organic growth opportunities across the United States.