CareTrust REIT, Inc. (NASDAQ:CTRE) Shares Bought by UniSuper Management Pty Ltd

UniSuper Management Pty Ltd lifted its holdings in shares of CareTrust REIT, Inc. (NASDAQ:CTRE) by 36.7% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 51,800 shares of the real estate investment trust’s stock after buying an additional 13,900 shares during the period. UniSuper Management Pty Ltd’s holdings in CareTrust REIT were worth $1,401,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Citigroup Inc. lifted its position in CareTrust REIT by 8.1% during the 3rd quarter. Citigroup Inc. now owns 198,070 shares of the real estate investment trust’s stock worth $6,112,000 after acquiring an additional 14,801 shares during the period. Bank of Montreal Can lifted its holdings in shares of CareTrust REIT by 18.3% during the third quarter. Bank of Montreal Can now owns 98,960 shares of the real estate investment trust’s stock worth $3,044,000 after purchasing an additional 15,328 shares during the period. The Manufacturers Life Insurance Company grew its position in CareTrust REIT by 9.2% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 82,934 shares of the real estate investment trust’s stock valued at $2,559,000 after buying an additional 6,979 shares during the last quarter. FMR LLC increased its stake in CareTrust REIT by 209.9% in the 3rd quarter. FMR LLC now owns 5,224,896 shares of the real estate investment trust’s stock valued at $161,240,000 after buying an additional 3,538,798 shares during the period. Finally, D.A. Davidson & CO. raised its position in CareTrust REIT by 5.4% during the 3rd quarter. D.A. Davidson & CO. now owns 38,120 shares of the real estate investment trust’s stock worth $1,176,000 after buying an additional 1,948 shares during the last quarter. Hedge funds and other institutional investors own 87.77% of the company’s stock.

CareTrust REIT Stock Up 1.2 %

CTRE opened at $28.90 on Monday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 3.82 and a current ratio of 3.82. The company has a market cap of $5.42 billion, a price-to-earnings ratio of 36.58, a PEG ratio of 1.25 and a beta of 1.11. CareTrust REIT, Inc. has a one year low of $23.26 and a one year high of $33.15. The business’s fifty day moving average is $26.86 and its two-hundred day moving average is $28.59.

CareTrust REIT (NASDAQ:CTRE) last issued its quarterly earnings data 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 net margin of 42.22% and a return on equity of 5.59%. During the same quarter last year, the firm earned $0.25 earnings per share. Analysts anticipate that CareTrust REIT, Inc. will post 1.71 EPS for the current fiscal year.

CareTrust REIT Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be paid a dividend of $0.335 per share. This represents a $1.34 dividend on an annualized basis and a dividend yield of 4.64%. This is a boost from CareTrust REIT’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend is Monday, March 31st. CareTrust REIT’s dividend payout ratio (DPR) is 169.62%.

Analyst Ratings Changes

CTRE has been the topic of several analyst reports. Wells Fargo & Company lowered their target price on shares of CareTrust REIT from $34.00 to $31.00 and set an “overweight” rating on the stock in a report on Monday, March 10th. BMO Capital Markets downgraded CareTrust REIT from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $34.00 to $32.00 in a research note on Monday, December 9th. Wedbush reaffirmed an “underperform” rating and set a $26.00 price objective on shares of CareTrust REIT in a report on Friday, March 14th. Royal Bank of Canada reduced their target price on CareTrust REIT from $37.00 to $32.00 and set an “outperform” rating for the company in a report on Friday, February 21st. Finally, Deutsche Bank Aktiengesellschaft upgraded 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. One research analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target 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.