State of Alaska Department of Revenue Grows Position in CareTrust REIT, Inc. (NASDAQ:CTRE)

State of Alaska Department of Revenue grew its position in CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) by 25.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 195,363 shares of the real estate investment trust's stock after acquiring an additional 39,730 shares during the period. State of Alaska Department of Revenue owned about 0.11% of CareTrust REIT worth $5,283,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in CTRE. JPMorgan Chase & Co. increased its position in CareTrust REIT by 381.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 6,878,379 shares of the real estate investment trust's stock worth $212,267,000 after purchasing an additional 5,448,904 shares during the period. FMR LLC grew its holdings in CareTrust REIT by 209.9% during the third quarter. FMR LLC now owns 5,224,896 shares of the real estate investment trust's stock worth $161,240,000 after acquiring an additional 3,538,798 shares during the period. Heitman Real Estate Securities LLC purchased a new position in CareTrust REIT in the third quarter worth $27,534,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in CareTrust REIT by 344.0% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 951,535 shares of the real estate investment trust's stock valued at $29,364,000 after acquiring an additional 737,236 shares during the period. Finally, Wellington Management Group LLP lifted its holdings in CareTrust REIT by 5.5% in the third quarter. Wellington Management Group LLP now owns 12,798,055 shares of the real estate investment trust's stock valued at $394,948,000 after acquiring an additional 670,348 shares during the period. 87.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on CTRE. Wedbush downgraded shares of CareTrust REIT from a "neutral" rating to an "underperform" rating and cut their price target for the company from $34.00 to $26.00 in a report on Thursday, January 2nd. BMO Capital Markets cut shares of CareTrust REIT from an "outperform" rating to a "market perform" rating and dropped their target price for the company from $34.00 to $32.00 in a report on Monday, December 9th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, CareTrust REIT has an average rating of "Hold" and an average target price of $30.67.

CareTrust REIT Price Performance

Shares of CTRE traded down $0.35 during mid-day trading on Tuesday, reaching $25.76. 2,275,359 shares of the company's stock were exchanged, compared to its average volume of 1,591,510. The company has a quick ratio of 7.60, a current ratio of 7.60 and a debt-to-equity ratio of 0.16. CareTrust REIT, Inc. has a 52-week low of $22.27 and a 52-week high of $33.15. The company has a market cap of $4.42 billion, a price-to-earnings ratio of 35.78, a PEG ratio of 1.24 and a beta of 1.09. The company has a 50-day simple moving average of $27.22 and a two-hundred day simple moving average of $28.95.

CareTrust REIT Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were issued a $0.29 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $1.16 dividend on an annualized basis and a dividend yield of 4.50%. 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.