CareTrust REIT, Inc. (NASDAQ:CTRE) Shares Purchased by Commonwealth of Pennsylvania Public School Empls Retrmt SYS

Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in shares of CareTrust REIT, Inc. (NASDAQ:CTRE) by 73.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 99,939 shares of the real estate investment trust’s stock after acquiring an additional 42,211 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS owned about 0.06% of CareTrust REIT worth $2,703,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. JPMorgan Chase & Co. grew its position in shares of 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 purchasing an additional 5,448,904 shares in the last quarter. FMR LLC increased its stake in 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 worth $161,240,000 after acquiring an additional 3,538,798 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in CareTrust REIT in the fourth quarter valued at $49,048,000. Heitman Real Estate Securities LLC acquired a new position in shares of CareTrust REIT in the 3rd quarter valued at $27,534,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of 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 period. Hedge funds and other institutional investors own 87.77% of the company’s stock.

CareTrust REIT Stock Performance

Shares of CTRE stock opened at $28.98 on Tuesday. CareTrust REIT, Inc. has a 52 week low of $23.26 and a 52 week high of $33.15. The firm has a 50 day moving average of $26.71 and a two-hundred day moving average of $28.62. The company has a quick ratio of 3.82, a current ratio of 3.82 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $5.44 billion, a PE ratio of 36.69, a P/E/G ratio of 1.25 and a beta of 1.11.

CareTrust REIT (NASDAQ:CTRE) last released its earnings results 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 last year, the firm earned $0.25 EPS. On average, 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 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. This is a boost from CareTrust REIT’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.34 annualized dividend and a yield of 4.62%. CareTrust REIT’s dividend payout ratio (DPR) is 169.62%.

Analysts Set New Price Targets

CTRE has been the topic of a number of recent analyst reports. Wells Fargo & Company decreased their target price on shares of CareTrust REIT from $34.00 to $31.00 and set an “overweight” rating on the stock in a research report on Monday, March 10th. Royal Bank of Canada lowered their price objective on shares of CareTrust REIT from $37.00 to $32.00 and set an “outperform” rating for the company in a research report on Friday, February 21st. Wedbush reissued an “underperform” rating and issued a $26.00 target price on shares of CareTrust REIT in a research report on Friday, March 14th. BMO Capital Markets lowered 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. Finally, Deutsche Bank Aktiengesellschaft upgraded CareTrust REIT from a “hold” rating to a “buy” rating and set a $31.00 price objective on the stock in a report on Thursday, March 13th. 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’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $31.00.

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.