Franklin Resources Inc. Has $5.39 Million Holdings in CareTrust REIT, Inc. $CTRE

Franklin Resources Inc. increased its position in shares of CareTrust REIT, Inc. (NASDAQ:CTRE) by 11.7% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 176,273 shares of the real estate investment trust’s stock after purchasing an additional 18,427 shares during the period. Franklin Resources Inc. owned about 0.09% of CareTrust REIT worth $5,394,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Universal Beteiligungs und Servicegesellschaft mbH lifted its position in shares of CareTrust REIT by 34.0% during the 2nd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 306,495 shares of the real estate investment trust’s stock worth $9,379,000 after buying an additional 77,720 shares during the period. Nomura Asset Management Co. Ltd. raised its stake in CareTrust REIT by 4.4% during the second quarter. Nomura Asset Management Co. Ltd. now owns 271,310 shares of the real estate investment trust’s stock worth $8,302,000 after acquiring an additional 11,440 shares in the last quarter. Metis Global Partners LLC lifted its holdings 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 valued at $971,000 after acquiring an additional 7,945 shares during the period. State of New Jersey Common Pension Fund D bought a new stake in shares of CareTrust REIT in the 2nd quarter worth about $2,035,000. Finally, Monument Capital Management acquired a new stake in CareTrust REIT during the 2nd quarter valued at $259,000. 87.77% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have weighed in on CTRE shares. Cantor Fitzgerald started coverage on shares of CareTrust REIT in a research report on Wednesday, October 1st. They issued a “neutral” rating and a $37.00 price objective for the company. KeyCorp boosted their price objective on shares of CareTrust REIT from $33.00 to $36.00 and gave the stock an “overweight” rating in a research report on Thursday, August 14th. 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. Wells Fargo & Company increased their price objective on CareTrust REIT from $38.00 to $41.00 and gave the company an “overweight” rating in a research report on Tuesday, November 25th. Finally, UBS Group assumed coverage on CareTrust REIT in a research report on Tuesday, November 18th. They set a “buy” rating and a $42.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $36.11.

CareTrust REIT Price Performance

Shares of CTRE stock opened at $37.30 on Monday. CareTrust REIT, Inc. has a 52-week low of $24.79 and a 52-week high of $37.90. The stock has a market cap of $8.33 billion, a PE ratio of 47.22, 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. The firm’s 50 day moving average price is $35.24 and its two-hundred day moving average price is $32.80.

CareTrust REIT Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders 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 dividend yield of 3.6%. CareTrust REIT’s dividend payout ratio is currently 100.00%.

CareTrust REIT Company 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.