Public Employees Retirement System of Ohio Boosts Position in CareTrust REIT, Inc. (NASDAQ:CTRE)

Public Employees Retirement System of Ohio raised its position in CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) by 9.5% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 220,510 shares of the real estate investment trust's stock after acquiring an additional 19,080 shares during the quarter. Public Employees Retirement System of Ohio owned approximately 0.13% of CareTrust REIT worth $6,805,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Envestnet Portfolio Solutions Inc. purchased a new position in shares of CareTrust REIT in the 2nd quarter valued at about $212,000. Sumitomo Mitsui Trust Holdings Inc. boosted its position in shares of CareTrust REIT by 6.9% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 157,148 shares of the real estate investment trust's stock valued at $3,944,000 after purchasing an additional 10,212 shares during the period. Nisa Investment Advisors LLC grew its stake in CareTrust REIT by 11.1% during the 2nd quarter. Nisa Investment Advisors LLC now owns 48,425 shares of the real estate investment trust's stock worth $1,228,000 after buying an additional 4,833 shares during the last quarter. Milestone Asset Management LLC increased its position in CareTrust REIT by 155.2% during the second quarter. Milestone Asset Management LLC now owns 27,813 shares of the real estate investment trust's stock worth $698,000 after buying an additional 16,915 shares during the period. Finally, Louisiana State Employees Retirement System lifted its stake in CareTrust REIT by 10.7% in the second quarter. Louisiana State Employees Retirement System now owns 71,500 shares of the real estate investment trust's stock valued at $1,795,000 after buying an additional 6,900 shares during the last quarter. Institutional investors and hedge funds own 87.77% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. Royal Bank of Canada raised their target price on shares of CareTrust REIT from $27.00 to $31.00 and gave the stock an "outperform" rating in a research report on Thursday, August 22nd. KeyCorp raised their price objective on shares of CareTrust REIT from $27.00 to $34.00 and gave the stock an "overweight" rating in a research report on Monday, October 7th. Wells Fargo & Company upgraded shares of CareTrust REIT from an "equal weight" rating to an "overweight" rating and lifted their price objective for the company from $28.00 to $34.00 in a research note on Tuesday, October 1st. Finally, BMO Capital Markets downgraded shares of CareTrust REIT from an "outperform" rating to a "market perform" rating and decreased their target price for the stock from $34.00 to $32.00 in a research note on Monday, December 9th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $30.67.

CareTrust REIT Stock Performance

NASDAQ:CTRE traded up $0.15 during midday trading on Friday, reaching $28.81. The stock had a trading volume of 1,468,787 shares, compared to its average volume of 1,571,283. 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 stock has a market cap of $4.94 billion, a P/E ratio of 40.01, a P/E/G ratio of 1.59 and a beta of 1.07. The firm has a fifty day simple moving average of $30.34 and a two-hundred day simple moving average of $28.59. CareTrust REIT, Inc. has a 12-month low of $20.10 and a 12-month high of $33.15.

CareTrust REIT (NASDAQ:CTRE - Get Free Report) last issued its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.21 earnings per share for the quarter, missing the consensus estimate of $0.29 by ($0.08). The firm had revenue of $77.38 million during the quarter, compared to analysts' expectations of $74.12 million. CareTrust REIT had a net margin of 36.88% and a return on equity of 5.32%. During the same period in the previous year, the firm earned $0.35 EPS. On average, equities analysts expect that CareTrust REIT, Inc. will post 1.5 EPS for the current year.

CareTrust REIT Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were paid a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 4.03%. The ex-dividend date was Monday, September 30th. CareTrust REIT's dividend payout ratio (DPR) is 161.11%.

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.