Teachers Retirement System of The State of Kentucky Has $4.49 Million Stake in CareTrust REIT, Inc. (NASDAQ:CTRE)

Teachers Retirement System of The State of Kentucky lifted its stake in shares of CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) by 14.4% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 165,959 shares of the real estate investment trust's stock after acquiring an additional 20,844 shares during the period. Teachers Retirement System of The State of Kentucky owned 0.10% of CareTrust REIT worth $4,488,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Signaturefd LLC raised its holdings in shares of CareTrust REIT by 20.3% during the fourth quarter. Signaturefd LLC now owns 2,628 shares of the real estate investment trust's stock valued at $71,000 after purchasing an additional 443 shares during the period. WealthShield Partners LLC raised its stake in CareTrust REIT by 1.0% during the 4th quarter. WealthShield Partners LLC now owns 49,119 shares of the real estate investment trust's stock worth $1,343,000 after buying an additional 490 shares during the period. PNC Financial Services Group Inc. boosted its holdings in CareTrust REIT by 4.9% in the fourth quarter. PNC Financial Services Group Inc. now owns 11,384 shares of the real estate investment trust's stock worth $308,000 after acquiring an additional 534 shares in the last quarter. O Shaughnessy Asset Management LLC grew its stake in CareTrust REIT by 5.4% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 11,777 shares of the real estate investment trust's stock valued at $319,000 after acquiring an additional 601 shares during the period. Finally, Blue Trust Inc. increased its holdings in shares of CareTrust REIT by 50.0% during the fourth 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 in the last quarter. 87.77% of the stock is owned by institutional investors.

CareTrust REIT Trading Up 1.2 %

Shares of CTRE stock opened at $28.39 on Wednesday. The stock has a market capitalization of $5.33 billion, a price-to-earnings ratio of 35.94, a PEG ratio of 1.25 and a beta of 0.88. The company's fifty day simple moving average is $27.41 and its two-hundred day simple moving average is $28.25. CareTrust REIT, Inc. has a 1 year low of $23.58 and a 1 year 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.

CareTrust REIT (NASDAQ:CTRE - Get Free Report) last issued its earnings results on Wednesday, February 12th. The real estate investment trust reported $0.29 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.12). CareTrust REIT had a return on equity of 5.59% and a net margin of 42.22%. During the same period in the prior year, the company posted $0.25 earnings per share. As a group, analysts anticipate that CareTrust REIT, Inc. will post 1.71 earnings per share for the current year.

CareTrust REIT Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were given a dividend of $0.335 per share. This is a positive change from CareTrust REIT's previous quarterly dividend of $0.29. This represents a $1.34 dividend on an annualized basis and a dividend yield of 4.72%. The ex-dividend date of this dividend was Monday, March 31st. CareTrust REIT's payout ratio is 169.62%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on CTRE shares. Wells Fargo & Company cut their target price on CareTrust REIT from $34.00 to $31.00 and set an "overweight" rating on the stock in a report on Monday, March 10th. Wedbush reiterated an "underperform" rating and issued a $26.00 target price on shares of CareTrust REIT in a report on Friday, March 14th. Royal Bank of Canada decreased their price target on CareTrust REIT from $37.00 to $32.00 and set an "outperform" rating for the company in a research report on Friday, February 21st. Finally, Deutsche Bank Aktiengesellschaft raised shares of CareTrust REIT from a "hold" rating to a "buy" rating and set a $31.00 price objective on the stock in a research report on Thursday, March 13th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $31.00.

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.

Want to see what other hedge funds are holding CTRE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.