CareTrust REIT, Inc. (NASDAQ:CTRE) Shares Acquired by Nomura Asset Management Co. Ltd.

Nomura Asset Management Co. Ltd. lifted its holdings in shares of CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) by 18.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 246,800 shares of the real estate investment trust's stock after purchasing an additional 38,000 shares during the quarter. Nomura Asset Management Co. Ltd. owned about 0.14% of CareTrust REIT worth $6,676,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Advantage Trust Co acquired a new position in CareTrust REIT during the fourth quarter worth $30,000. Versant Capital Management Inc lifted its stake in 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 worth $40,000 after acquiring an additional 743 shares in the last quarter. Blue Trust Inc. boosted its holdings in 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 during the period. FSA Wealth Management LLC purchased a new position in CareTrust REIT during the 3rd quarter valued at about $80,000. Finally, Signaturefd LLC grew its position in 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 acquiring an additional 443 shares in the last quarter. 87.77% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently weighed in on CTRE. Wells Fargo & Company dropped their price objective on shares of CareTrust REIT from $34.00 to $31.00 and set an "overweight" rating for the company in a report on Monday, March 10th. Royal Bank of Canada cut their price objective 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. 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 research note on Monday, December 9th. Deutsche Bank Aktiengesellschaft raised CareTrust REIT from a "hold" rating to a "buy" rating and set a $31.00 price target on the stock in a research report on Thursday, March 13th. Finally, Wedbush reaffirmed an "underperform" rating and issued a $26.00 target price on shares of CareTrust REIT in a report on Friday, March 14th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $31.00.

CareTrust REIT Stock Performance

Shares of CTRE stock traded down $0.88 during mid-day trading on Friday, hitting $27.98. The stock had a trading volume of 3,984,945 shares, compared to its average volume of 1,741,841. CareTrust REIT, Inc. has a fifty-two week low of $23.26 and a fifty-two week high of $33.15. 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 company's 50-day simple moving average is $27.03 and its 200-day simple moving average is $28.52. The firm has a market cap of $5.25 billion, a PE ratio of 35.41, a PEG ratio of 1.25 and a beta of 0.88.

CareTrust REIT (NASDAQ:CTRE - Get Free Report) last announced its quarterly earnings data on Wednesday, February 12th. The real estate investment trust reported $0.29 earnings per share 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 period in the previous year, the business posted $0.25 earnings per share. Sell-side analysts anticipate that CareTrust REIT, Inc. will post 1.71 earnings per share for the current year.

CareTrust REIT Increases Dividend

The firm also recently disclosed 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 a boost from CareTrust REIT's previous quarterly dividend of $0.29. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.34 annualized dividend and a yield of 4.79%. CareTrust REIT's dividend payout ratio is presently 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.