CareTrust REIT, Inc. (NASDAQ:CTRE) Shares Bought by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) by 344.0% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 951,535 shares of the real estate investment trust's stock after acquiring an additional 737,236 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.55% of CareTrust REIT worth $29,364,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Newbridge Financial Services Group Inc. purchased a new stake in shares of CareTrust REIT in the second quarter worth about $27,000. Blue Trust Inc. boosted its position in CareTrust REIT by 178.3% in the 3rd quarter. Blue Trust Inc. now owns 1,205 shares of the real estate investment trust's stock worth $37,000 after purchasing an additional 772 shares in the last quarter. Rothschild Investment LLC acquired a new stake in shares of CareTrust REIT during the 2nd quarter worth approximately $34,000. Quest Partners LLC purchased a new position in shares of CareTrust REIT during the 2nd quarter valued at approximately $40,000. Finally, GAMMA Investing LLC increased its holdings in shares of CareTrust REIT by 187.7% during the 2nd quarter. GAMMA Investing LLC now owns 1,752 shares of the real estate investment trust's stock valued at $44,000 after purchasing an additional 1,143 shares in the last quarter. Hedge funds and other institutional investors own 87.77% of the company's stock.

CareTrust REIT Price Performance

CTRE traded up $0.02 on Thursday, reaching $29.45. 1,080,830 shares of the company's stock were exchanged, compared to its average volume of 1,563,152. The stock has a market cap of $5.05 billion, a PE ratio of 40.90 and a beta of 1.07. CareTrust REIT, Inc. has a twelve month low of $20.10 and a twelve month high of $33.15. The stock's fifty day moving average price is $30.56 and its 200-day moving average price is $28.42. The company has a debt-to-equity ratio of 0.16, a current ratio of 7.60 and a quick ratio of 7.60.

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

CareTrust REIT Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were given a dividend of $0.29 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $1.16 annualized dividend and a dividend yield of 3.94%. CareTrust REIT's payout ratio is 161.11%.

Analysts Set New Price Targets

CTRE has been the topic of several analyst reports. KeyCorp raised their price target on shares of CareTrust REIT from $27.00 to $34.00 and gave the company an "overweight" rating in a research report on Monday, October 7th. BMO Capital Markets raised their target price on CareTrust REIT from $33.00 to $34.00 and gave the company an "outperform" rating in a research report on Monday, October 7th. Wells Fargo & Company raised CareTrust REIT from an "equal weight" rating to an "overweight" rating and upped their price target for the stock from $28.00 to $34.00 in a report on Tuesday, October 1st. Finally, Royal Bank of Canada increased their price target on CareTrust REIT from $27.00 to $31.00 and gave the stock an "outperform" rating in a research report on Thursday, August 22nd. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat.com, CareTrust REIT currently has a consensus 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.