Swiss National Bank Raises Stock Holdings in CareTrust REIT, Inc. (NASDAQ:CTRE)

Swiss National Bank raised its stake in CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) by 9.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 303,349 shares of the real estate investment trust's stock after buying an additional 26,000 shares during the quarter. Swiss National Bank owned about 0.18% of CareTrust REIT worth $8,206,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. JPMorgan Chase & Co. grew its stake in shares of CareTrust REIT by 381.2% in the third quarter. JPMorgan Chase & Co. now owns 6,878,379 shares of the real estate investment trust's stock valued at $212,267,000 after buying an additional 5,448,904 shares in the last quarter. Eagle Asset Management Inc. boosted its stake in shares of CareTrust REIT by 22.4% during the 3rd quarter. Eagle Asset Management Inc. now owns 428,699 shares of the real estate investment trust's stock worth $13,264,000 after acquiring an additional 78,560 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new position in shares of CareTrust REIT in the third quarter valued at $7,475,000. Geode Capital Management LLC raised its position in shares of CareTrust REIT by 7.4% in the third quarter. Geode Capital Management LLC now owns 3,732,609 shares of the real estate investment trust's stock valued at $115,209,000 after purchasing an additional 258,271 shares during the period. Finally, Bank of New York Mellon Corp lifted its position in CareTrust REIT by 5.3% during the fourth quarter. Bank of New York Mellon Corp now owns 2,505,883 shares of the real estate investment trust's stock worth $67,784,000 after acquiring an additional 126,280 shares during the last quarter. 87.77% of the stock is currently owned by institutional investors.

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CareTrust REIT Trading Down 0.6 %

Shares of NASDAQ CTRE traded down $0.16 during midday trading on Wednesday, reaching $28.67. The stock had a trading volume of 1,063,057 shares, compared to its average volume of 1,618,262. The company's 50 day moving average price is $26.75 and its 200 day moving average price is $28.62. The company has a debt-to-equity ratio of 0.14, a quick ratio of 3.82 and a current ratio of 3.82. CareTrust REIT, Inc. has a twelve month low of $23.26 and a twelve month high of $33.15. The firm has a market cap of $5.38 billion, a price-to-earnings ratio of 36.29, a price-to-earnings-growth ratio of 1.25 and a beta of 1.11.

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. As a group, sell-side analysts expect that CareTrust REIT, Inc. will post 1.71 EPS for the current year.

CareTrust REIT Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be given a $0.335 dividend. This represents a $1.34 dividend on an annualized basis and a yield of 4.67%. This is a positive change from CareTrust REIT's previous quarterly dividend of $0.29. The ex-dividend date of this dividend is Monday, March 31st. CareTrust REIT's payout ratio is presently 169.62%.

Analysts Set New Price Targets

CTRE has been the topic of a number of analyst reports. Deutsche Bank Aktiengesellschaft upgraded shares of CareTrust REIT from a "hold" rating to a "buy" rating and set a $31.00 target price on the stock in a research report on Thursday, March 13th. BMO Capital Markets cut CareTrust REIT from an "outperform" rating to a "market perform" rating and lowered their price target for the stock from $34.00 to $32.00 in a report on Monday, December 9th. Wells Fargo & Company decreased their target price on CareTrust REIT from $34.00 to $31.00 and set an "overweight" rating on the stock in a research report on Monday, March 10th. Royal Bank of Canada reduced their price target 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. Finally, Wedbush reissued an "underperform" rating and issued a $26.00 price objective on shares of CareTrust REIT in a research note on Friday, March 14th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, CareTrust REIT presently has a consensus rating of "Moderate Buy" and an average target price of $31.00.

About CareTrust REIT

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.