Louisiana State Employees Retirement System Purchases 16,000 Shares of CareTrust REIT, Inc. (NASDAQ:CTRE)

Louisiana State Employees Retirement System lifted its position in shares of CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) by 21.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 90,600 shares of the real estate investment trust's stock after purchasing an additional 16,000 shares during the period. Louisiana State Employees Retirement System owned 0.05% of CareTrust REIT worth $2,451,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently made changes to their positions in the company. CWM LLC boosted its holdings in shares of CareTrust REIT by 16.8% in the 3rd quarter. CWM LLC now owns 3,244 shares of the real estate investment trust's stock valued at $100,000 after purchasing an additional 467 shares in the last quarter. Quantinno Capital Management LP boosted its holdings in shares of CareTrust REIT by 3.2% during the 3rd quarter. Quantinno Capital Management LP now owns 17,097 shares of the real estate investment trust's stock valued at $528,000 after acquiring an additional 533 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd boosted its holdings in shares of CareTrust REIT by 0.4% during the 3rd quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 151,594 shares of the real estate investment trust's stock valued at $4,678,000 after acquiring an additional 544 shares in the last quarter. Blue Trust Inc. boosted its holdings in shares of CareTrust REIT by 50.0% during the 4th quarter. Blue Trust Inc. now owns 1,808 shares of the real estate investment trust's stock valued at $49,000 after acquiring an additional 603 shares in the last quarter. Finally, Pitcairn Co. raised its position in CareTrust REIT by 5.3% during the 3rd quarter. Pitcairn Co. now owns 13,440 shares of the real estate investment trust's stock worth $415,000 after purchasing an additional 671 shares during the last quarter. Institutional investors own 87.77% of the company's stock.

CareTrust REIT Stock Performance

CareTrust REIT stock traded down $0.26 during midday trading on Tuesday, reaching $26.16. The stock had a trading volume of 389,231 shares, compared to its average volume of 1,691,585. The company has a quick ratio of 7.60, a current ratio of 7.60 and a debt-to-equity ratio of 0.16. The firm has a market capitalization of $4.49 billion, a PE ratio of 36.26, a P/E/G ratio of 1.24 and a beta of 1.09. CareTrust REIT, Inc. has a 12 month low of $22.46 and a 12 month high of $33.15. The firm's 50-day moving average price is $26.98 and its 200 day moving average price is $28.93.

CareTrust REIT (NASDAQ:CTRE - Get Free Report) last issued 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 return on equity of 5.32% and a net margin of 36.88%. During the same period in the previous year, the business posted $0.25 EPS. As a group, research analysts predict that CareTrust REIT, Inc. will post 1.5 earnings per share for the current fiscal year.

CareTrust REIT Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were given a $0.29 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $1.16 annualized dividend and a yield of 4.43%. CareTrust REIT's payout ratio is currently 161.11%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Wedbush lowered CareTrust REIT from a "neutral" rating to an "underperform" rating and decreased their target price for the company from $34.00 to $26.00 in a research report on Thursday, January 2nd. BMO Capital Markets lowered CareTrust REIT from an "outperform" rating to a "market perform" rating and decreased their target price for the company from $34.00 to $32.00 in a research report on Monday, December 9th. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $30.67.

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.