Teacher Retirement System of Texas Buys 99,648 Shares of CareTrust REIT, Inc. (NASDAQ:CTRE)

Teacher Retirement System of Texas increased its holdings in CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) by 97.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 201,712 shares of the real estate investment trust's stock after buying an additional 99,648 shares during the quarter. Teacher Retirement System of Texas owned 0.12% of CareTrust REIT worth $5,456,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of CTRE. Advantage Trust Co bought a new stake in shares of CareTrust REIT in the 4th quarter worth about $30,000. Versant Capital Management Inc increased its position in shares of CareTrust REIT by 98.8% during the fourth quarter. Versant Capital Management Inc now owns 1,495 shares of the real estate investment trust's stock worth $40,000 after purchasing an additional 743 shares in the last quarter. Blue Trust Inc. boosted its stake in CareTrust REIT by 50.0% in the 4th quarter. Blue Trust Inc. now owns 1,808 shares of the real estate investment trust's stock worth $49,000 after purchasing an additional 603 shares in the last quarter. Loomis Sayles & Co. L P increased its holdings in shares of CareTrust REIT by 5,527.8% in the third quarter. Loomis Sayles & Co. L P now owns 2,026 shares of the real estate investment trust's stock valued at $63,000 after purchasing an additional 1,990 shares during the period. Finally, Signaturefd LLC raised its position in CareTrust REIT by 20.3% during the 4th quarter. Signaturefd LLC now owns 2,628 shares of the real estate investment trust's stock worth $71,000 after buying an additional 443 shares during the last quarter. Institutional investors own 87.77% of the company's stock.

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CareTrust REIT Stock Performance

Shares of CareTrust REIT stock traded down $0.10 on Thursday, reaching $28.60. 1,681,123 shares of the company were exchanged, compared to its average volume of 1,619,837. The firm has a market cap of $5.37 billion, a price-to-earnings ratio of 36.20, a P/E/G ratio of 1.25 and a beta of 1.11. The company's 50-day moving average is $26.79 and its two-hundred day moving average is $28.62. CareTrust REIT, Inc. has a 1-year low of $23.26 and a 1-year high of $33.15. 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 - Get Free Report) 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 return on equity of 5.59% and a net margin of 42.22%. During the same period last year, the business earned $0.25 EPS. As a group, research analysts expect that CareTrust REIT, Inc. will post 1.71 earnings per share for the current fiscal year.

CareTrust REIT Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be given a dividend of $0.335 per share. The ex-dividend date is Monday, March 31st. This is a positive change from CareTrust REIT's previous quarterly dividend of $0.29. This represents a $1.34 dividend on an annualized basis and a yield of 4.69%. CareTrust REIT's dividend payout ratio (DPR) is presently 169.62%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on CTRE shares. Deutsche Bank Aktiengesellschaft raised CareTrust REIT from a "hold" rating to a "buy" rating and set a $31.00 price target for the company in a report on Thursday, March 13th. Wells Fargo & Company cut their target price on CareTrust REIT from $34.00 to $31.00 and set an "overweight" rating for the company in a research note on Monday, March 10th. BMO Capital Markets cut shares of CareTrust REIT from an "outperform" rating to a "market perform" rating and reduced their price target for the stock from $34.00 to $32.00 in a research report on Monday, December 9th. Wedbush restated an "underperform" rating and issued a $26.00 price objective on shares of CareTrust REIT in a research note on Friday, March 14th. Finally, Royal Bank of Canada reduced their price target 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. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $31.00.

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.