Asset Management One Co. Ltd. Boosts Holdings in CareTrust REIT, Inc. (NASDAQ:CTRE)

Asset Management One Co. Ltd. raised its stake in shares of CareTrust REIT, Inc. (NASDAQ:CTRE) by 4.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 416,091 shares of the real estate investment trust’s stock after purchasing an additional 16,008 shares during the quarter. Asset Management One Co. Ltd. owned about 0.22% of CareTrust REIT worth $11,892,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of CTRE. Vanguard Group Inc. increased its stake in CareTrust REIT by 18.5% during 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 in the last quarter. FMR LLC increased its stake in CareTrust REIT by 51.8% during the 4th quarter. FMR LLC now owns 7,932,946 shares of the real estate investment trust’s stock valued at $214,586,000 after purchasing an additional 2,708,050 shares in the last quarter. Raymond James Financial Inc. acquired a new position in CareTrust REIT during the 4th quarter valued at approximately $49,048,000. Balyasny Asset Management L.P. increased its stake in CareTrust REIT by 149.6% during the 4th quarter. Balyasny Asset Management L.P. now owns 2,708,664 shares of the real estate investment trust’s stock valued at $73,269,000 after purchasing an additional 1,623,297 shares in the last quarter. Finally, Norges Bank acquired a new position in CareTrust REIT during the 4th quarter valued at approximately $33,180,000. Institutional investors and hedge funds own 87.77% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on CTRE. Wedbush restated an “underperform” rating and set a $26.00 price target on shares of CareTrust REIT in a research note on Friday, March 14th. Deutsche Bank Aktiengesellschaft upgraded shares of CareTrust REIT from a “hold” rating to a “buy” rating and set a $31.00 price objective on the stock in a research note on Thursday, March 13th. Finally, Wells Fargo & Company increased their price objective on shares of CareTrust REIT from $31.00 to $32.00 and gave the stock an “overweight” rating in a research note on Monday, June 2nd. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $31.17.

CareTrust REIT Stock Up 0.1%

NASDAQ:CTRE opened at $30.53 on Friday. The firm has a market capitalization of $5.85 billion, a P/E ratio of 38.64, a PEG ratio of 1.25 and a beta of 0.83. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.82 and a quick ratio of 3.82. The company’s fifty day moving average price is $28.99 and its 200-day moving average price is $27.80. CareTrust REIT, Inc. has a 1-year low of $24.57 and a 1-year high of $33.15.

CareTrust REIT Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be given a dividend of $0.335 per share. The ex-dividend date is Monday, June 30th. This represents a $1.34 annualized dividend and a yield of 4.39%. CareTrust REIT’s dividend payout ratio is presently 145.65%.

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.