Versor Investments LP Invests $737,000 in CareTrust REIT, Inc. $CTRE

Versor Investments LP acquired a new position in shares of CareTrust REIT, Inc. (NASDAQ:CTRE) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 24,100 shares of the real estate investment trust’s stock, valued at approximately $737,000.

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

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Wells Fargo & Company lifted their price objective on CareTrust REIT from $32.00 to $38.00 and gave the company an “overweight” rating in a report on Wednesday, August 27th. Royal Bank Of Canada reissued an “outperform” rating on shares of CareTrust REIT in a research report on Monday, August 11th. Raymond James Financial set a $39.00 price objective on CareTrust REIT and gave the stock a “strong-buy” rating in a research note on Tuesday, September 2nd. KeyCorp boosted their target price on CareTrust REIT from $33.00 to $36.00 and gave the stock an “overweight” rating in a report on Thursday, August 14th. Finally, Cantor Fitzgerald began coverage on shares of CareTrust REIT in a report on Wednesday, October 1st. They issued a “neutral” rating and a $37.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $33.88.

CareTrust REIT Trading Up 1.8%

CTRE opened at $35.28 on Tuesday. CareTrust REIT, Inc. has a twelve month low of $24.79 and a twelve month high of $35.88. The company has a 50-day simple moving average of $34.39 and a 200 day simple moving average of $31.75. The company has a quick ratio of 3.82, a current ratio of 3.82 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $7.70 billion, a price-to-earnings ratio of 44.66, a P/E/G ratio of 1.25 and a beta of 0.82.

CareTrust REIT Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th were given a dividend of $0.335 per share. The ex-dividend date of this dividend was Tuesday, September 30th. This represents a $1.34 annualized dividend and a yield of 3.8%. CareTrust REIT’s dividend payout ratio is currently 111.67%.

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.