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

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

Other institutional investors have also recently added to or reduced their stakes in the company. New Age Alpha Advisors LLC purchased a new position in shares of CareTrust REIT in the 4th quarter valued at approximately $7,234,000. Norges Bank acquired a new position in CareTrust REIT in the 4th quarter valued at $33,180,000. Caisse Des Depots ET Consignations acquired a new position in CareTrust REIT in the 4th quarter valued at $2,431,000. UniSuper Management Pty Ltd raised its position in CareTrust REIT by 36.7% during the 4th quarter. UniSuper Management Pty Ltd now owns 51,800 shares of the real estate investment trust's stock worth $1,401,000 after buying an additional 13,900 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in shares of CareTrust REIT by 24.8% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 123,446 shares of the real estate investment trust's stock worth $3,301,000 after acquiring an additional 24,556 shares during the period. Institutional investors and hedge funds own 87.77% of the company's stock.

CareTrust REIT Price Performance

CTRE stock traded up $0.27 during midday trading on Thursday, hitting $28.82. 3,256,621 shares of the stock were exchanged, compared to its average volume of 1,726,097. The company has a debt-to-equity ratio of 0.14, a quick ratio of 3.82 and a current ratio of 3.82. The stock has a market cap of $5.41 billion, a price-to-earnings ratio of 36.48, a PEG ratio of 1.25 and a beta of 0.88. CareTrust REIT, Inc. has a fifty-two week low of $23.26 and a fifty-two week high of $33.15. The stock's 50-day moving average price is $26.96 and its 200-day moving average price is $28.55.

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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 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 quarter last year, the firm earned $0.25 earnings per share. Research analysts predict that CareTrust REIT, Inc. will post 1.71 earnings per share for the current year.

CareTrust REIT Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be given a dividend of $0.335 per share. This is an increase from CareTrust REIT's previous quarterly dividend of $0.29. This represents a $1.34 annualized dividend and a dividend yield of 4.65%. The ex-dividend date is Monday, March 31st. CareTrust REIT's payout ratio is currently 169.62%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Wells Fargo & Company cut their price target 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. Wedbush reissued an "underperform" rating and issued a $26.00 price target on shares of CareTrust REIT in a report on Friday, March 14th. BMO Capital Markets downgraded CareTrust REIT from an "outperform" rating to a "market perform" rating and decreased their price target for the company from $34.00 to $32.00 in a research note on Monday, December 9th. Deutsche Bank Aktiengesellschaft upgraded CareTrust REIT from a "hold" rating to a "buy" rating and set a $31.00 price objective for the company in a research report on Thursday, March 13th. Finally, 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 report on Friday, February 21st. One 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 MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target 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.