CareTrust REIT, Inc. (NASDAQ:CTRE) Shares Acquired by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in shares of CareTrust REIT, Inc. (NASDAQ:CTRE) by 27.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 37,380 shares of the real estate investment trust’s stock after purchasing an additional 8,049 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in CareTrust REIT were worth $1,011,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in CTRE. JPMorgan Chase & Co. raised its stake in CareTrust REIT by 381.2% in the third quarter. JPMorgan Chase & Co. now owns 6,878,379 shares of the real estate investment trust’s stock valued at $212,267,000 after buying an additional 5,448,904 shares during the last quarter. FMR LLC increased its holdings in shares of CareTrust REIT by 209.9% during the third quarter. FMR LLC now owns 5,224,896 shares of the real estate investment trust’s stock valued at $161,240,000 after acquiring an additional 3,538,798 shares in the last quarter. Heitman Real Estate Securities LLC purchased a new position in shares of CareTrust REIT in the 3rd quarter valued at approximately $27,534,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in CareTrust REIT by 344.0% in the 3rd 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 worth $29,364,000 after purchasing an additional 737,236 shares in the last quarter. Finally, Wellington Management Group LLP grew its position in CareTrust REIT by 5.5% during the 3rd 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 last quarter. Institutional investors and hedge funds own 87.77% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on CTRE. Wedbush cut shares of CareTrust REIT from a “neutral” rating to an “underperform” rating and decreased their price target for the stock from $34.00 to $26.00 in a report on Thursday, January 2nd. BMO Capital Markets lowered CareTrust REIT from an “outperform” rating to a “market perform” rating and reduced their target price for the stock from $34.00 to $32.00 in a research note on Monday, December 9th. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $30.67.

CareTrust REIT Stock Down 1.3 %

CTRE stock opened at $25.76 on Wednesday. The company has a market capitalization of $4.42 billion, a P/E ratio of 35.78, a price-to-earnings-growth ratio of 1.24 and a beta of 1.09. CareTrust REIT, Inc. has a 12 month low of $22.27 and a 12 month high of $33.15. The firm’s fifty day simple moving average is $27.22 and its 200-day simple moving average is $28.95. The company has a debt-to-equity ratio of 0.16, a current ratio of 7.60 and a quick ratio of 7.60.

CareTrust REIT Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were issued a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 4.50%. The ex-dividend date of this dividend was Tuesday, December 31st. CareTrust REIT’s payout ratio is 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.