CareTrust REIT, Inc. $CTRE Shares Purchased by Neo Ivy Capital Management

Neo Ivy Capital Management lifted its position in CareTrust REIT, Inc. (NASDAQ:CTRE) by 5,387.5% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,073 shares of the real estate investment trust’s stock after acquiring an additional 3,017 shares during the quarter. Neo Ivy Capital Management’s holdings in CareTrust REIT were worth $94,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in CTRE. Parallel Advisors LLC raised its position in shares of CareTrust REIT by 109.5% during the 2nd quarter. Parallel Advisors LLC now owns 1,100 shares of the real estate investment trust’s stock valued at $34,000 after acquiring an additional 575 shares in the last quarter. Twin Tree Management LP bought a new stake in CareTrust REIT during the first quarter valued at $58,000. Private Trust Co. NA raised its holdings in shares of CareTrust REIT by 1,328.3% during the second 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 during the period. CWM LLC lifted its position in shares of CareTrust REIT by 47.6% in the 2nd quarter. CWM LLC now owns 2,955 shares of the real estate investment trust’s stock worth $90,000 after buying an additional 953 shares during the last quarter. Finally, Bessemer Group Inc. lifted its position 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 worth $101,000 after buying an additional 2,940 shares during the last quarter. 87.77% of the stock is currently owned by institutional investors.

CareTrust REIT Price Performance

NASDAQ CTRE opened at $36.70 on Friday. The company has a 50-day moving average price of $34.96 and a two-hundred day moving average price of $32.47. CareTrust REIT, Inc. has a 52 week low of $24.79 and a 52 week high of $37.60. The stock has a market cap of $8.19 billion, a price-to-earnings ratio of 46.45, a price-to-earnings-growth ratio of 1.25 and a beta of 0.81. The company has a current ratio of 3.82, a quick ratio of 3.82 and a debt-to-equity ratio of 0.14.

CareTrust REIT Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th were issued a $0.335 dividend. This represents a $1.34 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date of this dividend was Tuesday, September 30th. CareTrust REIT’s dividend payout ratio is 100.00%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Cantor Fitzgerald assumed coverage on shares of CareTrust REIT in a research note on Wednesday, October 1st. They set a “neutral” rating and a $37.00 price objective on the stock. UBS Group assumed coverage on CareTrust REIT in a research note on Tuesday, November 18th. They issued a “buy” rating and a $42.00 target price for the company. Raymond James Financial set a $39.00 price target on CareTrust REIT and gave the stock a “strong-buy” rating in a research report on Tuesday, September 2nd. Royal Bank Of Canada raised their price target on CareTrust REIT from $36.00 to $41.00 and gave the stock an “outperform” rating in a report on Monday, November 10th. Finally, KeyCorp boosted their price objective on CareTrust REIT from $33.00 to $36.00 and gave the company an “overweight” rating in a research report on Thursday, August 14th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $35.78.

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.