State of Alaska Department of Revenue Raises Position in CareTrust REIT, Inc. (NASDAQ:CTRE)

State of Alaska Department of Revenue increased its holdings in shares of CareTrust REIT, Inc. (NASDAQ:CTRE) by 25.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 195,363 shares of the real estate investment trust’s stock after buying an additional 39,730 shares during the quarter. State of Alaska Department of Revenue owned 0.11% of CareTrust REIT worth $5,283,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. JPMorgan Chase & Co. boosted its holdings 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 worth $212,267,000 after acquiring an additional 5,448,904 shares in the last quarter. FMR LLC boosted its stake in 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 worth $161,240,000 after purchasing an additional 3,538,798 shares in the last quarter. Heitman Real Estate Securities LLC purchased a new stake in CareTrust REIT during the 3rd quarter worth approximately $27,534,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in CareTrust REIT by 344.0% during 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 during the last quarter. Finally, Wellington Management Group LLP increased its stake 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 valued at $394,948,000 after purchasing an additional 670,348 shares in the last quarter. 87.77% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CTRE has been the topic of a number of research analyst reports. Wedbush lowered shares of CareTrust REIT from a “neutral” rating to an “underperform” rating and dropped their price objective for the company from $34.00 to $26.00 in a report on Thursday, January 2nd. BMO Capital Markets cut CareTrust REIT from an “outperform” rating to a “market perform” rating and lowered their price target for the stock from $34.00 to $32.00 in a research report on Monday, December 9th. One equities 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. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $30.67.

CareTrust REIT Trading Down 0.2 %

Shares of CareTrust REIT stock opened at $26.33 on Friday. The stock has a market cap of $4.51 billion, a PE ratio of 36.56, a price-to-earnings-growth ratio of 1.25 and a beta of 1.09. The firm has a fifty day moving average price of $27.42 and a 200 day moving average price of $28.94. CareTrust REIT, Inc. has a 1 year low of $20.57 and a 1 year high of $33.15. 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 business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were paid a dividend of $0.29 per share. The ex-dividend date was Tuesday, December 31st. This represents a $1.16 dividend on an annualized basis and a dividend yield of 4.41%. CareTrust REIT’s payout ratio is currently 161.11%.

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.