Mitsubishi UFJ Asset Management Co. Ltd. Buys 24,556 Shares of CareTrust REIT, Inc. (NASDAQ:CTRE)

Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) by 24.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 123,446 shares of the real estate investment trust's stock after acquiring an additional 24,556 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.07% of CareTrust REIT worth $3,301,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Signaturefd LLC boosted its holdings in shares of CareTrust REIT by 20.3% in the 4th 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 in the last quarter. WealthShield Partners LLC lifted its position in shares of CareTrust REIT by 1.0% during the 4th quarter. WealthShield Partners LLC now owns 49,119 shares of the real estate investment trust's stock worth $1,343,000 after buying an additional 490 shares during the last quarter. Quantinno Capital Management LP boosted its stake in CareTrust REIT by 3.2% in the third quarter. Quantinno Capital Management LP now owns 17,097 shares of the real estate investment trust's stock valued at $528,000 after buying an additional 533 shares in the last quarter. PNC Financial Services Group Inc. grew its position in CareTrust REIT by 4.9% in the fourth quarter. PNC Financial Services Group Inc. now owns 11,384 shares of the real estate investment trust's stock valued at $308,000 after acquiring an additional 534 shares during the last quarter. Finally, Blue Trust Inc. raised its stake in CareTrust REIT by 50.0% during 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 in the last quarter. Institutional investors own 87.77% of the company's stock.

Remove Ads

CareTrust REIT Trading Down 3.0 %

CareTrust REIT stock traded down $0.88 during mid-day trading on Friday, hitting $27.98. 3,984,945 shares of the stock were exchanged, compared to its average volume of 1,741,841. The stock has a market capitalization of $5.25 billion, a price-to-earnings ratio of 35.41, a PEG ratio of 1.25 and a beta of 0.88. CareTrust REIT, Inc. has a 12 month low of $23.26 and a 12 month high of $33.15. The company has a quick ratio of 3.82, a current ratio of 3.82 and a debt-to-equity ratio of 0.14. The firm's fifty day simple moving average is $27.03 and its two-hundred day simple moving average is $28.50.

CareTrust REIT (NASDAQ:CTRE - Get Free Report) last released its earnings results on Wednesday, February 12th. The real estate investment trust reported $0.29 earnings per share (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 last year, the business posted $0.25 earnings per share. Analysts forecast that CareTrust REIT, Inc. will post 1.71 EPS for the current year.

CareTrust REIT Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be paid a dividend of $0.335 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.34 annualized dividend and a yield of 4.79%. This is a boost from CareTrust REIT's previous quarterly dividend of $0.29. CareTrust REIT's dividend payout ratio (DPR) is currently 169.62%.

Analysts Set New Price Targets

CTRE has been the topic of a number of research analyst reports. Deutsche Bank Aktiengesellschaft upgraded shares of CareTrust REIT from a "hold" rating to a "buy" rating and set a $31.00 price target on the stock in a research note on Thursday, March 13th. Royal Bank of Canada decreased their target price on shares of CareTrust REIT from $37.00 to $32.00 and set an "outperform" rating on the stock in a research note on Friday, February 21st. Wedbush reiterated an "underperform" rating and set a $26.00 price target 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 report on Monday, March 10th. Finally, BMO Capital Markets cut CareTrust REIT from an "outperform" rating to a "market perform" rating and lowered their target price for the stock from $34.00 to $32.00 in a report on Monday, December 9th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus 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.