GRS Advisors LLC Sells 549,547 Shares of CareTrust REIT, Inc. $CTRE

GRS Advisors LLC cut its holdings in shares of CareTrust REIT, Inc. (NASDAQ:CTRE) by 38.8% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 865,875 shares of the real estate investment trust’s stock after selling 549,547 shares during the period. CareTrust REIT comprises approximately 2.5% of GRS Advisors LLC’s portfolio, making the stock its 21st largest position. GRS Advisors LLC owned 0.43% of CareTrust REIT worth $26,496,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Segall Bryant & Hamill LLC grew its stake in shares of CareTrust REIT by 33.5% in the second quarter. Segall Bryant & Hamill LLC now owns 722,727 shares of the real estate investment trust’s stock worth $22,115,000 after purchasing an additional 181,280 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH grew its position in shares of CareTrust REIT by 34.0% in the 2nd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 306,495 shares of the real estate investment trust’s stock valued at $9,379,000 after buying an additional 77,720 shares during the last quarter. Nomura Asset Management Co. Ltd. increased its stake in shares of CareTrust REIT by 4.4% in the second quarter. Nomura Asset Management Co. Ltd. now owns 271,310 shares of the real estate investment trust’s stock valued at $8,302,000 after buying an additional 11,440 shares during the period. Metis Global Partners LLC raised its position in shares of CareTrust REIT by 33.4% during the second quarter. Metis Global Partners LLC now owns 31,718 shares of the real estate investment trust’s stock worth $971,000 after acquiring an additional 7,945 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D acquired a new position in shares of CareTrust REIT in the second quarter worth approximately $2,035,000. 87.77% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Cantor Fitzgerald initiated coverage on shares of CareTrust REIT in a research report on Wednesday, October 1st. They set a “neutral” rating and a $37.00 target price for the company. Raymond James Financial set a $39.00 price objective on shares of CareTrust REIT and gave the stock a “strong-buy” rating in a research report on Tuesday, September 2nd. Royal Bank Of Canada boosted their target price on shares of CareTrust REIT from $36.00 to $41.00 and gave the company an “outperform” rating in a report on Monday, November 10th. UBS Group began coverage on shares of CareTrust REIT in a research report on Tuesday, November 18th. They set a “buy” rating and a $42.00 price target on the stock. Finally, KeyCorp lifted their price objective on CareTrust REIT from $36.00 to $40.00 and gave the stock an “overweight” rating in a research report on Thursday. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, CareTrust REIT presently has an average rating of “Moderate Buy” and a consensus price target of $37.13.

CareTrust REIT Price Performance

Shares of NASDAQ CTRE opened at $37.77 on Tuesday. The firm has a market capitalization of $8.43 billion, a P/E ratio of 47.81, a P/E/G ratio of 1.25 and a beta of 0.77. The firm’s 50-day moving average price is $35.62 and its 200-day moving average price is $33.16. 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, Inc. has a 1-year low of $24.79 and a 1-year high of $38.32.

CareTrust REIT Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th were paid a $0.335 dividend. This represents a $1.34 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date of this dividend was Tuesday, September 30th. CareTrust REIT’s dividend payout ratio (DPR) is 100.00%.

CareTrust REIT 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.