Public Employees Retirement System of Ohio Has $6.81 Million Stock Position in CareTrust REIT, Inc. (NASDAQ:CTRE)

Public Employees Retirement System of Ohio raised its position in CareTrust REIT, Inc. (NASDAQ:CTRE) by 9.5% during the third quarter, according to its most recent filing with the SEC. The firm owned 220,510 shares of the real estate investment trust’s stock after purchasing an additional 19,080 shares during the period. Public Employees Retirement System of Ohio owned 0.13% of CareTrust REIT worth $6,805,000 as of its most recent filing with the SEC.

A number of other institutional investors have also bought and sold shares of CTRE. FMR LLC grew its stake in shares of CareTrust REIT by 209.9% in the 3rd quarter. FMR LLC now owns 5,224,896 shares of the real estate investment trust’s stock valued at $161,240,000 after buying an additional 3,538,798 shares during the period. Heitman Real Estate Securities LLC acquired a new stake in CareTrust REIT in the third quarter valued at approximately $27,534,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of CareTrust REIT by 344.0% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 951,535 shares of the real estate investment trust’s stock valued at $29,364,000 after acquiring an additional 737,236 shares in the last quarter. Wellington Management Group LLP raised its position in shares of CareTrust REIT by 5.5% during the third quarter. Wellington Management Group LLP now owns 12,798,055 shares of the real estate investment trust’s stock worth $394,948,000 after purchasing an additional 670,348 shares during the period. Finally, State Street Corp lifted its holdings in shares of CareTrust REIT by 6.7% in the 3rd quarter. State Street Corp now owns 8,323,360 shares of the real estate investment trust’s stock worth $259,255,000 after purchasing an additional 520,783 shares in the last quarter. Institutional investors own 87.77% of the company’s stock.

CareTrust REIT Price Performance

CareTrust REIT stock opened at $28.81 on Friday. CareTrust REIT, Inc. has a 52 week low of $20.10 and a 52 week high of $33.15. The company’s 50 day moving average price is $30.34 and its two-hundred day moving average price is $28.56. The stock has a market cap of $4.94 billion, a P/E ratio of 40.01, a P/E/G ratio of 1.59 and a beta of 1.07. The company has a quick ratio of 7.60, a current ratio of 7.60 and a debt-to-equity ratio of 0.16.

CareTrust REIT (NASDAQ:CTRE) last issued its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.21 EPS for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.08). The business had revenue of $77.38 million for the quarter, compared to the consensus estimate of $74.12 million. CareTrust REIT had a return on equity of 5.32% and a net margin of 36.88%. During the same quarter last year, the business posted $0.35 earnings per share. On average, equities analysts predict that CareTrust REIT, Inc. will post 1.5 earnings per share for the current year.

CareTrust REIT Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were issued a dividend of $0.29 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $1.16 dividend on an annualized basis and a yield of 4.03%. CareTrust REIT’s dividend payout ratio (DPR) is presently 161.11%.

Wall Street Analyst Weigh In

Several research firms have weighed in on CTRE. Royal Bank of Canada upped their price objective on shares of CareTrust REIT from $27.00 to $31.00 and gave the stock an “outperform” rating in a report on Thursday, August 22nd. BMO Capital Markets lowered shares of CareTrust REIT from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from $34.00 to $32.00 in a report on Monday, December 9th. KeyCorp lifted their price target on CareTrust REIT from $27.00 to $34.00 and gave the company an “overweight” rating in a research note on Monday, October 7th. Finally, Wells Fargo & Company raised CareTrust REIT from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $28.00 to $34.00 in a research note on Tuesday, October 1st. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, CareTrust REIT presently has a consensus rating of “Moderate Buy” and a consensus target price of $30.67.

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.