Golden State Equity Partners Buys 31,799 Shares of CareTrust REIT, Inc. (NASDAQ:CTRE)

Golden State Equity Partners raised its position in CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) by 449.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 38,872 shares of the real estate investment trust's stock after purchasing an additional 31,799 shares during the quarter. Golden State Equity Partners' holdings in CareTrust REIT were worth $1,051,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of CTRE. Newbridge Financial Services Group Inc. bought a new position in CareTrust REIT in the second quarter valued at about $27,000. Blue Trust Inc. increased its stake in shares of CareTrust REIT by 178.3% in the third quarter. Blue Trust Inc. now owns 1,205 shares of the real estate investment trust's stock valued at $37,000 after buying an additional 772 shares during the period. Versant Capital Management Inc increased its stake in shares of CareTrust REIT by 98.8% in the fourth quarter. Versant Capital Management Inc now owns 1,495 shares of the real estate investment trust's stock valued at $40,000 after buying an additional 743 shares during the period. Loomis Sayles & Co. L P increased its stake in shares of CareTrust REIT by 5,527.8% in the third quarter. Loomis Sayles & Co. L P now owns 2,026 shares of the real estate investment trust's stock valued at $63,000 after buying an additional 1,990 shares during the period. Finally, Signaturefd LLC increased its stake in shares of CareTrust REIT by 55.0% in the third quarter. Signaturefd LLC now owns 2,185 shares of the real estate investment trust's stock valued at $67,000 after buying an additional 775 shares during the period. 87.77% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on CTRE. BMO Capital Markets cut CareTrust REIT from an "outperform" rating to a "market perform" rating and decreased their price target for the company from $34.00 to $32.00 in a research note on Monday, December 9th. Wedbush cut CareTrust REIT from a "neutral" rating to an "underperform" rating and decreased their price target for the company from $34.00 to $26.00 in a research note on Thursday, January 2nd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $30.67.

CareTrust REIT Trading Up 1.3 %

NASDAQ CTRE traded up $0.34 during trading hours on Wednesday, hitting $26.69. 735,003 shares of the company's stock were exchanged, compared to its average volume of 1,419,778. The stock has a 50-day simple moving average of $27.55 and a 200 day simple moving average of $28.97. CareTrust REIT, Inc. has a 1-year low of $20.33 and a 1-year high of $33.15. The firm has a market cap of $4.58 billion, a price-to-earnings ratio of 37.03, a PEG ratio of 1.25 and a beta of 1.09. The company has a current ratio of 7.60, a quick ratio of 7.60 and a debt-to-equity ratio of 0.16.

CareTrust REIT Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were paid a dividend of $0.29 per share. The ex-dividend date was Tuesday, December 31st. This represents a $1.16 annualized dividend and a yield of 4.35%. CareTrust REIT's dividend payout ratio is currently 161.11%.

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.