CareTrust REIT, Inc. (NASDAQ:CTRE) Shares Bought by Teacher Retirement System of Texas

Teacher Retirement System of Texas grew its stake in CareTrust REIT, Inc. (NASDAQ:CTRE) by 97.6% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 201,712 shares of the real estate investment trust’s stock after acquiring an additional 99,648 shares during the quarter. Teacher Retirement System of Texas’ holdings in CareTrust REIT were worth $5,456,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of CTRE. Swiss National Bank increased its position in CareTrust REIT by 4.4% during the third quarter. Swiss National Bank now owns 277,349 shares of the real estate investment trust’s stock worth $8,559,000 after purchasing an additional 11,800 shares during the last quarter. Jennison Associates LLC acquired a new stake in shares of CareTrust REIT during the 3rd quarter worth approximately $1,212,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of CareTrust REIT during the 3rd quarter valued at approximately $1,110,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new position in CareTrust REIT in the third quarter valued at approximately $7,475,000. Finally, Intech Investment Management LLC purchased a new position in CareTrust REIT in the third quarter worth approximately $1,393,000. Hedge funds and other institutional investors own 87.77% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Royal Bank of Canada reduced their target price on CareTrust REIT from $37.00 to $32.00 and set an “outperform” rating on the stock in a research report on Friday, February 21st. BMO Capital Markets cut 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 report on Monday, December 9th. Deutsche Bank Aktiengesellschaft raised 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. Wells Fargo & Company reduced their price target on shares of CareTrust REIT from $34.00 to $31.00 and set an “overweight” rating on the stock in a research note on Monday, March 10th. Finally, Wedbush reaffirmed an “underperform” rating and set a $26.00 price objective on shares of CareTrust REIT in a research report on Friday, March 14th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $31.00.

CareTrust REIT Trading Down 1.0 %

Shares of CTRE stock opened at $28.70 on Monday. CareTrust REIT, Inc. has a fifty-two week low of $23.26 and a fifty-two week high of $33.15. The company has a 50 day moving average price of $26.66 and a 200 day moving average price of $28.63. The stock has a market capitalization of $5.39 billion, a P/E ratio of 36.33, a price-to-earnings-growth ratio of 1.25 and a beta of 1.11. The company has a debt-to-equity ratio of 0.14, a quick ratio of 3.82 and a current ratio of 3.82.

CareTrust REIT (NASDAQ:CTRE) last released its earnings results on Wednesday, February 12th. The real estate investment trust reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.12). CareTrust REIT had a net margin of 42.22% and a return on equity of 5.59%. During the same period in the previous year, the business earned $0.25 earnings per share. Equities research analysts predict that CareTrust REIT, Inc. will post 1.71 EPS for the current fiscal year.

CareTrust REIT Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be issued a $0.335 dividend. This represents a $1.34 dividend on an annualized basis and a dividend yield of 4.67%. This is a positive change from CareTrust REIT’s previous quarterly dividend of $0.29. The ex-dividend date is Monday, March 31st. CareTrust REIT’s dividend payout ratio (DPR) is presently 169.62%.

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.