Nomura Asset Management Co. Ltd. Purchases 38,000 Shares of CareTrust REIT, Inc. (NASDAQ:CTRE)

Nomura Asset Management Co. Ltd. raised its position in CareTrust REIT, Inc. (NASDAQ:CTRE) by 18.2% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 246,800 shares of the real estate investment trust’s stock after buying an additional 38,000 shares during the period. Nomura Asset Management Co. Ltd. owned 0.14% of CareTrust REIT worth $6,676,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. increased its position in shares of CareTrust REIT by 381.2% during the third quarter. JPMorgan Chase & Co. now owns 6,878,379 shares of the real estate investment trust’s stock valued at $212,267,000 after acquiring an additional 5,448,904 shares during the last quarter. Vanguard Group Inc. grew its stake in CareTrust REIT by 18.5% in the 4th quarter. Vanguard Group Inc. now owns 27,300,633 shares of the real estate investment trust’s stock valued at $738,482,000 after purchasing an additional 4,263,097 shares during the period. FMR LLC increased its position in shares of CareTrust REIT by 209.9% during 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 purchasing an additional 3,538,798 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of CareTrust REIT during the 4th quarter worth $49,048,000. Finally, Norges Bank bought a new stake in shares of CareTrust REIT during the 4th quarter worth $33,180,000. Hedge funds and other institutional investors own 87.77% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. Royal Bank of Canada decreased their price objective 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 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 research note on Thursday, March 13th. Wedbush reiterated an “underperform” rating and issued a $26.00 price objective on shares of CareTrust REIT in a research note on Friday, March 14th. BMO Capital Markets downgraded CareTrust REIT from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $34.00 to $32.00 in a research report on Monday, December 9th. Finally, Wells Fargo & Company dropped their price target on 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 research analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $31.00.

CareTrust REIT Price Performance

CareTrust REIT stock opened at $28.60 on Tuesday. 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, Inc. has a one year low of $23.26 and a one year high of $33.15. The firm has a market capitalization of $5.37 billion, a P/E ratio of 36.20, a PEG ratio of 1.25 and a beta of 1.11. The business has a fifty day moving average price of $26.90 and a 200-day moving average price of $28.57.

CareTrust REIT (NASDAQ:CTRE) last posted its earnings results on Wednesday, February 12th. The real estate investment trust reported $0.29 earnings per share 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 period in the previous year, the business posted $0.25 EPS. As a group, equities research analysts forecast that CareTrust REIT, Inc. will post 1.71 EPS for the current year.

CareTrust REIT Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be paid a $0.335 dividend. The ex-dividend date of this dividend is Monday, March 31st. This is a boost from CareTrust REIT’s previous quarterly dividend of $0.29. This represents a $1.34 annualized dividend and a yield of 4.69%. CareTrust REIT’s dividend payout ratio is currently 169.62%.

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.