Ibex Wealth Advisors Takes $6.93 Million Position in CareTrust REIT, Inc. $CTRE

Ibex Wealth Advisors acquired a new stake in shares of CareTrust REIT, Inc. (NASDAQ:CTRE) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 226,525 shares of the real estate investment trust’s stock, valued at approximately $6,932,000. Ibex Wealth Advisors owned 0.12% of CareTrust REIT as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Nuveen LLC acquired a new position in CareTrust REIT in the 1st quarter valued at $49,049,000. Vanguard Group Inc. grew its position in shares of CareTrust REIT by 4.9% in the first quarter. Vanguard Group Inc. now owns 28,636,981 shares of the real estate investment trust’s stock valued at $818,445,000 after purchasing an additional 1,336,348 shares during the period. Jupiter Asset Management Ltd. grew its position in shares of CareTrust REIT by 5,756.5% in the first quarter. Jupiter Asset Management Ltd. now owns 1,181,431 shares of the real estate investment trust’s stock valued at $33,765,000 after purchasing an additional 1,161,258 shares during the period. Alyeska Investment Group L.P. increased its stake in CareTrust REIT by 51.3% in the first quarter. Alyeska Investment Group L.P. now owns 2,094,848 shares of the real estate investment trust’s stock valued at $59,871,000 after purchasing an additional 710,006 shares during the last quarter. Finally, Alliancebernstein L.P. lifted its position in CareTrust REIT by 173.9% during the first quarter. Alliancebernstein L.P. now owns 682,066 shares of the real estate investment trust’s stock worth $19,493,000 after buying an additional 433,020 shares during the period. 87.77% of the stock is owned by hedge funds and other institutional investors.

CareTrust REIT Trading Up 1.7%

NASDAQ CTRE opened at $36.16 on Monday. The firm has a market capitalization of $8.08 billion, a price-to-earnings ratio of 45.78, a PEG ratio of 1.25 and a beta of 0.81. The company has a debt-to-equity ratio of 0.14, a quick ratio of 3.82 and a current ratio of 3.82. CareTrust REIT, Inc. has a one year low of $24.79 and a one year high of $36.55. The company’s 50 day moving average price is $34.50 and its 200 day moving average price is $31.96.

CareTrust REIT Dividend Announcement

The firm also recently announced 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 dividend yield of 3.7%. CareTrust REIT’s payout ratio is presently 100.00%.

Analyst Upgrades and Downgrades

CTRE has been the subject of several recent analyst reports. Cantor Fitzgerald initiated coverage on CareTrust REIT in a report on Wednesday, October 1st. They issued a “neutral” rating and a $37.00 price target for the company. Wells Fargo & Company raised their target price on shares of CareTrust REIT from $32.00 to $38.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 27th. Royal Bank Of Canada restated an “outperform” rating on shares of CareTrust REIT in a report on Monday, August 11th. Raymond James Financial set a $39.00 price target on shares of CareTrust REIT and gave the stock a “strong-buy” rating in a research report on Tuesday, September 2nd. Finally, KeyCorp lifted their price target on shares of CareTrust REIT from $33.00 to $36.00 and gave the company an “overweight” rating in a report on Thursday, August 14th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently 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.