Employees Retirement System of Texas Has $1.92 Million Holdings in CareTrust REIT, Inc. (NASDAQ:CTRE)

Employees Retirement System of Texas reduced its stake in CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) by 45.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 71,000 shares of the real estate investment trust's stock after selling 58,000 shares during the quarter. Employees Retirement System of Texas' holdings in CareTrust REIT were worth $1,921,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. JPMorgan Chase & Co. lifted its position in shares of CareTrust REIT by 381.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 6,878,379 shares of the real estate investment trust's stock worth $212,267,000 after purchasing an additional 5,448,904 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of CareTrust REIT by 7.4% in the third quarter. Geode Capital Management LLC now owns 3,732,609 shares of the real estate investment trust's stock valued at $115,209,000 after acquiring an additional 258,271 shares in the last quarter. Bank of New York Mellon Corp increased its holdings 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 purchasing an additional 126,280 shares in the last quarter. Tidal Investments LLC purchased a new stake in shares of CareTrust REIT in the 3rd quarter worth about $576,000. Finally, Rhumbline Advisers raised its stake in CareTrust REIT by 26.9% in the 4th quarter. Rhumbline Advisers now owns 572,664 shares of the real estate investment trust's stock valued at $15,491,000 after purchasing an additional 121,328 shares during the last quarter. Hedge funds and other institutional investors own 87.77% of the company's stock.

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Analyst Upgrades and Downgrades

CTRE has been the subject of a number of research reports. Wedbush reiterated an "underperform" rating and set a $26.00 target price on shares of CareTrust REIT in a report on Friday, March 14th. Wells Fargo & Company cut their price objective on CareTrust REIT from $34.00 to $31.00 and set an "overweight" rating on the stock in a research note 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 on the stock in a report on Thursday, March 13th. Finally, Royal Bank of Canada decreased their price objective on CareTrust REIT from $37.00 to $32.00 and set an "outperform" rating for the company in a report on Friday, February 21st. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company's stock. According to MarketBeat, CareTrust REIT presently has an average rating of "Moderate Buy" and a consensus target price of $31.00.

CareTrust REIT Price Performance

CareTrust REIT stock traded up $0.37 during mid-day trading on Friday, hitting $28.04. The company's stock had a trading volume of 1,534,135 shares, compared to its average volume of 1,762,538. The company has a quick ratio of 3.82, a current ratio of 3.82 and a debt-to-equity ratio of 0.14. CareTrust REIT, Inc. has a twelve month low of $23.26 and a twelve month high of $33.15. The stock has a market capitalization of $5.26 billion, a P/E ratio of 35.49, a P/E/G ratio of 1.25 and a beta of 0.88. The stock's fifty day moving average price is $27.09 and its two-hundred day moving average price is $28.34.

CareTrust REIT (NASDAQ:CTRE - Get Free Report) last issued its earnings results 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 return on equity of 5.59% and a net margin of 42.22%. During the same period last year, the firm posted $0.25 earnings per share. Research analysts forecast that CareTrust REIT, Inc. will post 1.71 earnings per share for the current year.

CareTrust REIT Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be issued a dividend of $0.335 per share. This represents a $1.34 annualized dividend and a dividend yield of 4.78%. This is a positive change from CareTrust REIT's previous quarterly dividend of $0.29. The ex-dividend date is Monday, March 31st. CareTrust REIT's dividend payout ratio (DPR) is currently 169.62%.

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.