Invesco Ltd. Buys 2,522,260 Shares of CareTrust REIT, Inc. $CTRE

Invesco Ltd. grew its stake in shares of CareTrust REIT, Inc. (NASDAQ:CTRE) by 201.8% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,772,350 shares of the real estate investment trust’s stock after acquiring an additional 2,522,260 shares during the quarter. Invesco Ltd. owned about 1.88% of CareTrust REIT worth $115,434,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Beacon Pointe Advisors LLC grew its position in CareTrust REIT by 4.9% during the 2nd quarter. Beacon Pointe Advisors LLC now owns 189,213 shares of the real estate investment trust’s stock valued at $5,790,000 after purchasing an additional 8,759 shares during the last quarter. M&T Bank Corp lifted its stake in shares of CareTrust REIT by 3.8% in the second quarter. M&T Bank Corp now owns 17,071 shares of the real estate investment trust’s stock worth $523,000 after buying an additional 621 shares in the last quarter. MBM Wealth Consultants LLC lifted its stake in shares of CareTrust REIT by 5.2% in the second quarter. MBM Wealth Consultants LLC now owns 14,858 shares of the real estate investment trust’s stock worth $455,000 after buying an additional 733 shares in the last quarter. Shelton Capital Management bought a new stake in shares of CareTrust REIT during the second quarter valued at approximately $201,000. Finally, Lido Advisors LLC bought a new stake in shares of CareTrust REIT during the second quarter valued at approximately $334,000. Hedge funds and other institutional investors own 87.77% of the company’s stock.

CareTrust REIT Stock Down 0.6%

CareTrust REIT stock opened at $37.51 on Wednesday. CareTrust REIT, Inc. has a one year low of $24.79 and a one year high of $38.32. The stock has a fifty day moving average of $35.68 and a 200 day moving average of $33.22. The company has a debt-to-equity ratio of 0.14, a quick ratio of 3.82 and a current ratio of 3.82. The stock has a market cap of $8.37 billion, a PE ratio of 47.48, a price-to-earnings-growth ratio of 1.25 and a beta of 0.77.

CareTrust REIT Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th were paid a $0.335 dividend. This represents a $1.34 annualized dividend and a dividend yield of 3.6%. The ex-dividend date was Tuesday, September 30th. CareTrust REIT’s dividend payout ratio is 100.00%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on CTRE shares. Cantor Fitzgerald initiated coverage on CareTrust REIT in a research report on Wednesday, October 1st. They issued a “neutral” rating and a $37.00 price objective on the stock. Wells Fargo & Company upped their price target on CareTrust REIT from $38.00 to $41.00 and gave the company an “overweight” rating in a report on Tuesday, November 25th. Raymond James Financial set a $39.00 price objective on CareTrust REIT and gave the stock a “strong-buy” rating in a report on Tuesday, September 2nd. Royal Bank Of Canada boosted their target price on CareTrust REIT from $36.00 to $41.00 and gave the stock an “outperform” rating in a research report on Monday, November 10th. Finally, UBS Group initiated coverage on shares of CareTrust REIT in a report on Tuesday, November 18th. They set a “buy” rating and a $42.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $37.13.

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.