Commonwealth of Pennsylvania Public School Empls Retrmt SYS Has $2.70 Million Stake in CareTrust REIT, Inc. (NASDAQ:CTRE)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in shares of CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) by 73.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm 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 0.06% of CareTrust REIT worth $2,703,000 as of its most recent SEC filing.

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

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CareTrust REIT Stock Performance

Shares of NASDAQ CTRE traded down $0.10 during trading hours on Thursday, hitting $28.60. 1,681,123 shares of the stock were exchanged, compared to its average volume of 1,621,513. CareTrust REIT, Inc. has a one year low of $23.26 and a one year high of $33.15. The company's 50 day moving average is $26.82 and its 200 day moving average is $28.62. 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 firm has a market capitalization of $5.37 billion, a P/E ratio of 36.20, a P/E/G ratio of 1.25 and a beta of 1.11.

CareTrust REIT (NASDAQ:CTRE - Get Free Report) last released its quarterly 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 net margin of 42.22% and a return on equity of 5.59%. During the same quarter in the prior year, the firm earned $0.25 EPS. On average, research analysts expect that CareTrust REIT, Inc. will post 1.71 EPS for the current year.

CareTrust REIT Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be given a $0.335 dividend. This is an increase from CareTrust REIT's previous quarterly dividend of $0.29. This represents a $1.34 annualized dividend and a yield of 4.69%. The ex-dividend date of this dividend is Monday, March 31st. CareTrust REIT's payout ratio is currently 169.62%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Royal Bank of Canada dropped their target price on CareTrust REIT from $37.00 to $32.00 and set an "outperform" rating on the stock in a research report on Friday, February 21st. Wells Fargo & Company cut their price objective 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. Deutsche Bank Aktiengesellschaft raised shares of CareTrust REIT from a "hold" rating to a "buy" rating and set a $31.00 target price for the company in a research report on Thursday, March 13th. Wedbush restated an "underperform" rating and set a $26.00 price target on shares of CareTrust REIT in a report on Friday, March 14th. Finally, BMO Capital Markets cut shares of CareTrust REIT from an "outperform" rating to a "market perform" rating and decreased their price objective for the stock from $34.00 to $32.00 in a report on Monday, December 9th. One analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price 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.