Teachers Retirement System of The State of Kentucky Purchases 19,839 Shares of CareTrust REIT, Inc. (NASDAQ:CTRE)

Teachers Retirement System of The State of Kentucky lifted its stake in CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) by 15.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 145,115 shares of the real estate investment trust's stock after purchasing an additional 19,839 shares during the period. Teachers Retirement System of The State of Kentucky owned 0.08% of CareTrust REIT worth $4,478,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Hsbc Holdings PLC raised its stake in shares of CareTrust REIT by 25.4% during the second quarter. Hsbc Holdings PLC now owns 104,410 shares of the real estate investment trust's stock worth $2,618,000 after buying an additional 21,145 shares during the last quarter. Raymond James & Associates raised its position in shares of CareTrust REIT by 10.6% during the 3rd quarter. Raymond James & Associates now owns 684,971 shares of the real estate investment trust's stock valued at $21,138,000 after acquiring an additional 65,756 shares during the last quarter. Eagle Asset Management Inc. lifted its stake in shares of CareTrust REIT by 22.4% in the 3rd quarter. Eagle Asset Management Inc. now owns 428,699 shares of the real estate investment trust's stock valued at $13,264,000 after purchasing an additional 78,560 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new position in shares of CareTrust REIT in the 3rd quarter worth $7,475,000. Finally, Sanctuary Advisors LLC acquired a new stake in shares of CareTrust REIT during the second quarter worth $319,000. Institutional investors own 87.77% of the company's stock.

CareTrust REIT Stock Up 0.5 %

NASDAQ CTRE traded up $0.15 on Friday, reaching $28.81. The company had a trading volume of 1,468,787 shares, compared to its average volume of 1,571,283. The company's fifty day moving average is $30.34 and its 200-day moving average is $28.56. CareTrust REIT, Inc. has a 1-year low of $20.10 and a 1-year high of $33.15. The firm has a market capitalization of $4.94 billion, a price-to-earnings ratio of 40.01, a price-to-earnings-growth ratio of 1.59 and a beta of 1.07. The company has a debt-to-equity ratio of 0.16, a quick ratio of 7.60 and a current ratio of 7.60.

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

CareTrust REIT Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on CTRE. KeyCorp boosted their target price on 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 raised shares of CareTrust REIT from an "equal weight" rating to an "overweight" rating and upped their target price for the company from $28.00 to $34.00 in a research note on Tuesday, October 1st. BMO Capital Markets cut shares of CareTrust REIT from an "outperform" rating to a "market perform" rating and reduced their price target for the stock from $34.00 to $32.00 in a research report on Monday, December 9th. Finally, Royal Bank of Canada upped their price objective on shares of CareTrust REIT from $27.00 to $31.00 and gave the company an "outperform" rating in a research report on Thursday, August 22nd. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $30.67.

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.