Charles Schwab Investment Management Inc. Boosts Stock Position in CareTrust REIT, Inc. (NASDAQ:CTRE)

Charles Schwab Investment Management Inc. raised its stake in CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) by 24.5% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,891,679 shares of the real estate investment trust's stock after buying an additional 568,634 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 1.69% of CareTrust REIT worth $78,220,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Steward Partners Investment Advisory LLC grew its holdings in shares of CareTrust REIT by 3.8% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 181,116 shares of the real estate investment trust's stock valued at $4,899,000 after purchasing an additional 6,651 shares during the period. Smartleaf Asset Management LLC boosted its holdings in CareTrust REIT by 56.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 5,032 shares of the real estate investment trust's stock valued at $135,000 after purchasing an additional 1,806 shares during the last quarter. Aew Capital Management L P grew its stake in shares of CareTrust REIT by 60.2% in the 4th quarter. Aew Capital Management L P now owns 974,702 shares of the real estate investment trust's stock valued at $26,366,000 after buying an additional 366,400 shares during the period. Metis Global Partners LLC increased its holdings in shares of CareTrust REIT by 21.3% during the 4th quarter. Metis Global Partners LLC now owns 19,266 shares of the real estate investment trust's stock worth $521,000 after buying an additional 3,388 shares during the last quarter. Finally, Mutual of America Capital Management LLC increased its holdings in shares of CareTrust REIT by 22.3% during the 4th quarter. Mutual of America Capital Management LLC now owns 28,374 shares of the real estate investment trust's stock worth $768,000 after buying an additional 5,181 shares during the last quarter. 87.77% of the stock is owned by institutional investors and hedge funds.

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Analyst Ratings Changes

A number of research firms recently commented on CTRE. Wells Fargo & Company decreased their price objective on CareTrust REIT from $34.00 to $31.00 and set an "overweight" rating on the stock in a report on Monday. Royal Bank of Canada lowered their price target on 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 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 research report on Monday, December 9th. Deutsche Bank Aktiengesellschaft raised shares of CareTrust REIT from a "hold" rating to a "buy" rating and set a $31.00 target price on the stock in a research report on Thursday. Finally, Wedbush reiterated an "underperform" rating and set a $26.00 price target on shares of CareTrust REIT in a research report on Friday. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company. According to MarketBeat, CareTrust REIT currently has an average rating of "Moderate Buy" and an average target price of $31.00.

CareTrust REIT Trading Up 2.3 %

CareTrust REIT stock traded up $0.65 during midday trading on Friday, reaching $28.35. 1,863,932 shares of the stock traded hands, compared to its average volume of 1,840,367. The firm has a market cap of $5.32 billion, a PE ratio of 35.89, a price-to-earnings-growth ratio of 1.25 and a beta of 1.11. The company has a current ratio of 3.82, a quick ratio of 3.82 and a debt-to-equity ratio of 0.14. The company has a 50-day simple moving average of $26.39 and a two-hundred day simple moving average of $28.68. CareTrust REIT, Inc. has a 12-month low of $23.26 and a 12-month high of $33.15.

CareTrust REIT (NASDAQ:CTRE - Get Free Report) last posted its quarterly earnings data 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 net margin of 42.22% and a return on equity of 5.59%. During the same quarter in the previous year, the business posted $0.25 earnings per share. Research analysts expect that CareTrust REIT, Inc. will post 1.71 earnings per share for the current fiscal year.

CareTrust REIT Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 4.09%. The ex-dividend date of this dividend was Tuesday, December 31st. CareTrust REIT's dividend payout ratio is currently 146.84%.

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.