Swiss National Bank Buys 26,000 Shares of CareTrust REIT, Inc. (NASDAQ:CTRE)

Swiss National Bank raised its stake in shares of CareTrust REIT, Inc. (NASDAQ:CTRE) by 9.4% in the 4th quarter, Holdings Channel reports. The firm owned 303,349 shares of the real estate investment trust’s stock after acquiring an additional 26,000 shares during the period. Swiss National Bank’s holdings in CareTrust REIT were worth $8,206,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. WealthShield Partners LLC boosted its holdings in shares of 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 valued at $1,343,000 after purchasing an additional 490 shares during the last quarter. Quantinno Capital Management LP lifted its holdings in shares of CareTrust REIT by 3.2% in the 3rd quarter. Quantinno Capital Management LP now owns 17,097 shares of the real estate investment trust’s stock valued at $528,000 after acquiring an additional 533 shares during the last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of CareTrust REIT by 4.9% in the 4th quarter. PNC Financial Services Group Inc. now owns 11,384 shares of the real estate investment trust’s stock valued at $308,000 after acquiring an additional 534 shares during the last quarter. Blue Trust Inc. lifted its holdings in shares of CareTrust REIT by 50.0% in the 4th 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 during the last quarter. Finally, Pitcairn Co. lifted its holdings in shares of CareTrust REIT by 5.3% in the 3rd quarter. Pitcairn Co. now owns 13,440 shares of the real estate investment trust’s stock valued at $415,000 after acquiring an additional 671 shares during the last quarter. Institutional investors own 87.77% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on CTRE shares. Royal Bank of Canada lowered their price target on shares of CareTrust REIT from $37.00 to $32.00 and set an “outperform” rating for the company in a report on Friday, February 21st. Deutsche Bank Aktiengesellschaft raised shares of CareTrust REIT from a “hold” rating to a “buy” rating and set a $31.00 price target for the company in a report on Thursday, March 13th. BMO Capital Markets downgraded shares of CareTrust REIT from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $34.00 to $32.00 in a report on Monday, December 9th. Wedbush reissued an “underperform” rating and issued a $26.00 price objective on shares of CareTrust REIT in a research report on Friday, March 14th. Finally, Wells Fargo & Company reduced their price objective on shares of CareTrust REIT from $34.00 to $31.00 and set an “overweight” rating on the stock in a research report on Monday, March 10th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $31.00.

CareTrust REIT Stock Performance

CareTrust REIT stock opened at $28.70 on Friday. The firm has a market capitalization of $5.39 billion, a P/E ratio of 36.33, a price-to-earnings-growth ratio of 1.25 and a beta of 1.11. The company’s 50-day moving average is $26.66 and its 200 day moving average is $28.64. CareTrust REIT, Inc. has a 1-year low of $23.26 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) last issued its earnings results on Wednesday, February 12th. The real estate investment trust reported $0.29 EPS for the quarter, missing analysts’ consensus estimates 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 quarter in the previous year, the business earned $0.25 EPS. Research analysts forecast that CareTrust REIT, Inc. will post 1.71 EPS for the current year.

CareTrust REIT Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be given a dividend of $0.335 per share. The ex-dividend date is Monday, March 31st. 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 4.67%. CareTrust REIT’s dividend payout ratio (DPR) is 146.84%.

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.