Oregon Public Employees Retirement Fund Buys 7,800 Shares of CareTrust REIT, Inc. (NASDAQ:CTRE)

Oregon Public Employees Retirement Fund grew its stake in shares of CareTrust REIT, Inc. (NASDAQ:CTRE) by 21.5% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 44,113 shares of the real estate investment trust’s stock after acquiring an additional 7,800 shares during the period. Oregon Public Employees Retirement Fund’s holdings in CareTrust REIT were worth $1,193,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Illinois Municipal Retirement Fund grew its position in shares of CareTrust REIT by 27.2% during the 4th quarter. Illinois Municipal Retirement Fund now owns 92,392 shares of the real estate investment trust’s stock valued at $2,499,000 after acquiring an additional 19,776 shares during the period. Amalgamated Bank grew its position in shares of CareTrust REIT by 22.3% during the 4th quarter. Amalgamated Bank now owns 54,806 shares of the real estate investment trust’s stock valued at $1,483,000 after acquiring an additional 9,998 shares during the period. Bank of New York Mellon Corp grew its position in shares of CareTrust REIT by 5.3% during the 4th quarter. Bank of New York Mellon Corp now owns 2,505,883 shares of the real estate investment trust’s stock valued at $67,784,000 after acquiring an additional 126,280 shares during the period. J. W. Coons Advisors LLC grew its position in shares of CareTrust REIT by 23.5% during the 4th quarter. J. W. Coons Advisors LLC now owns 8,529 shares of the real estate investment trust’s stock valued at $231,000 after acquiring an additional 1,625 shares during the period. Finally, WealthShield Partners LLC grew its position in shares of CareTrust REIT by 1.0% during the 4th quarter. WealthShield Partners LLC now owns 49,119 shares of the real estate investment trust’s stock valued at $1,343,000 after acquiring an additional 490 shares during the period. 87.77% of the stock is owned by institutional investors.

CareTrust REIT Stock Performance

NASDAQ CTRE opened at $25.88 on Friday. CareTrust REIT, Inc. has a 1 year low of $22.46 and a 1 year high of $33.15. 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 stock has a market capitalization of $4.86 billion, a PE ratio of 32.75, a P/E/G ratio of 1.25 and a beta of 1.09. The company’s 50 day simple moving average is $26.53 and its two-hundred day simple moving average is $28.80.

CareTrust REIT (NASDAQ:CTRE) last posted its earnings results on Wednesday, February 12th. The real estate investment trust reported $0.29 earnings per share (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 quarter in the previous year, the firm earned $0.25 earnings per share. Analysts predict that CareTrust REIT, Inc. will post 1.71 earnings per share for the current fiscal year.

CareTrust REIT Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were paid a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 4.48%. The ex-dividend date of this dividend was Tuesday, December 31st. CareTrust REIT’s dividend payout ratio is presently 146.84%.

Wall Street Analysts Forecast Growth

CTRE has been the subject of several analyst reports. Royal Bank of Canada cut their price objective on shares of CareTrust REIT from $37.00 to $32.00 and set an “outperform” rating for the company in a report on Friday, February 21st. BMO Capital Markets downgraded shares of CareTrust REIT from an “outperform” rating to a “market perform” rating and cut their price objective for the stock from $34.00 to $32.00 in a report on Monday, December 9th. Finally, Wedbush downgraded shares of CareTrust REIT from a “neutral” rating to an “underperform” rating and cut their price objective for the stock from $34.00 to $26.00 in a report on Thursday, January 2nd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $30.83.

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.