Swiss National Bank Increases Stock Position in CareTrust REIT, Inc. (NASDAQ:CTRE)

Swiss National Bank increased its position in CareTrust REIT, Inc. (NASDAQ:CTRE) by 9.4% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 303,349 shares of the real estate investment trust’s stock after acquiring an additional 26,000 shares during the period. Swiss National Bank owned about 0.18% of CareTrust REIT worth $8,206,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in CTRE. Advantage Trust Co purchased a new position in CareTrust REIT in the 4th quarter worth approximately $30,000. Versant Capital Management Inc raised its holdings in CareTrust REIT by 98.8% in the 4th quarter. Versant Capital Management Inc now owns 1,495 shares of the real estate investment trust’s stock worth $40,000 after acquiring an additional 743 shares during the last quarter. Blue Trust Inc. raised its stake in CareTrust REIT by 50.0% during the 4th quarter. Blue Trust Inc. now owns 1,808 shares of the real estate investment trust’s stock valued at $49,000 after buying an additional 603 shares during the last quarter. Loomis Sayles & Co. L P raised its stake in CareTrust REIT by 5,527.8% during the 3rd 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 last quarter. Finally, FSA Wealth Management LLC purchased a new stake in CareTrust REIT during the 3rd quarter valued at $80,000. 87.77% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have weighed in on CTRE shares. Wells Fargo & Company decreased their target price on shares of CareTrust REIT from $34.00 to $31.00 and set an “overweight” rating for the company in a research note on Monday, March 10th. Wedbush reiterated an “underperform” rating and set a $26.00 target price on shares of CareTrust REIT in a research note on Friday, March 14th. Royal Bank of Canada decreased their target price on shares of CareTrust REIT from $37.00 to $32.00 and set an “outperform” rating for the company in a research note on Friday, February 21st. BMO Capital Markets lowered shares of CareTrust REIT from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $34.00 to $32.00 in a research note on Monday, December 9th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of CareTrust REIT from a “hold” rating to a “buy” rating and set a $31.00 target price for the company in a research note on Thursday, March 13th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, CareTrust REIT has an average rating of “Moderate Buy” and a consensus target price of $31.00.

CareTrust REIT Trading Down 1.0 %

NASDAQ:CTRE opened at $28.70 on Friday. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.82 and a quick ratio of 3.82. The firm has a market capitalization of $5.39 billion, a price-to-earnings ratio of 36.33, a price-to-earnings-growth ratio of 1.25 and a beta of 1.11. CareTrust REIT, Inc. has a one year low of $23.26 and a one year high of $33.15. The business has a fifty day moving average price of $26.66 and a 200-day moving average price of $28.64.

CareTrust REIT (NASDAQ:CTRE) last posted its quarterly earnings data on Wednesday, February 12th. The real estate investment trust reported $0.29 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.12). CareTrust REIT had a return on equity of 5.59% and a net margin of 42.22%. During the same period in the previous year, the business earned $0.25 earnings per share. Sell-side analysts forecast that CareTrust REIT, Inc. will post 1.71 EPS for the current year.

CareTrust REIT Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be issued a $0.335 dividend. The ex-dividend date is Monday, March 31st. This represents a $1.34 annualized dividend and a yield of 4.67%. This is an increase from CareTrust REIT’s previous quarterly dividend of $0.29. CareTrust REIT’s dividend payout ratio is currently 146.84%.

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.