UniSuper Management Pty Ltd Has $1.40 Million Stock Position in CareTrust REIT, Inc. (NASDAQ:CTRE)

UniSuper Management Pty Ltd lifted its holdings in CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) by 36.7% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 51,800 shares of the real estate investment trust's stock after buying an additional 13,900 shares during the quarter. UniSuper Management Pty Ltd's holdings in CareTrust REIT were worth $1,401,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. JPMorgan Chase & Co. increased its position in CareTrust REIT by 381.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 6,878,379 shares of the real estate investment trust's stock valued at $212,267,000 after acquiring an additional 5,448,904 shares in the last quarter. Geode Capital Management LLC lifted its holdings in CareTrust REIT by 7.4% during the 3rd quarter. Geode Capital Management LLC now owns 3,732,609 shares of the real estate investment trust's stock worth $115,209,000 after buying an additional 258,271 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of CareTrust REIT by 5.3% in 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 buying an additional 126,280 shares during the period. Tidal Investments LLC acquired a new position in shares of CareTrust REIT during the third quarter valued at $576,000. Finally, Martingale Asset Management L P acquired a new stake in CareTrust REIT in the third quarter worth about $784,000. 87.77% of the stock is owned by institutional investors.

CareTrust REIT Stock Up 1.6 %

CTRE stock traded up $0.47 during mid-day trading on Thursday, hitting $29.02. 1,447,589 shares of the company were exchanged, compared to its average volume of 1,719,813. 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, Inc. has a 1-year low of $23.26 and a 1-year high of $33.15. The firm's 50 day simple moving average is $26.96 and its 200 day simple moving average is $28.55. The firm has a market cap of $5.45 billion, a P/E ratio of 36.73, a P/E/G ratio of 1.25 and a beta of 0.88.

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CareTrust REIT (NASDAQ:CTRE - Get Free Report) last announced its earnings results on Wednesday, February 12th. The real estate investment trust reported $0.29 earnings per share 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 quarter last year, the business earned $0.25 earnings per share. On average, sell-side analysts predict that CareTrust REIT, Inc. will post 1.71 EPS for the current fiscal year.

CareTrust REIT Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be paid a dividend of $0.335 per share. This is a boost from CareTrust REIT's previous quarterly dividend of $0.29. This represents a $1.34 annualized dividend and a dividend yield of 4.62%. The ex-dividend date of this dividend is Monday, March 31st. CareTrust REIT's dividend payout ratio (DPR) is currently 169.62%.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Wells Fargo & Company lowered their price target on shares of CareTrust REIT from $34.00 to $31.00 and set an "overweight" rating for the company in a research report on Monday, March 10th. Royal Bank of Canada dropped their target price 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. BMO Capital Markets lowered 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 reaffirmed an "underperform" rating and set a $26.00 price objective on shares of CareTrust REIT in a research note on Friday, March 14th. Finally, Deutsche Bank Aktiengesellschaft upgraded CareTrust REIT from a "hold" rating to a "buy" rating and set a $31.00 target price on the stock in a report on Thursday, March 13th. One analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, CareTrust REIT has a consensus rating of "Moderate Buy" and an average price target of $31.00.

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.