CareTrust REIT, Inc. (NASDAQ:CTRE) Shares Bought by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund grew its holdings in CareTrust REIT, Inc. (NASDAQ:CTRE) by 27.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 92,392 shares of the real estate investment trust’s stock after purchasing an additional 19,776 shares during the period. Illinois Municipal Retirement Fund owned approximately 0.05% of CareTrust REIT worth $2,499,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. JPMorgan Chase & Co. raised its holdings in CareTrust REIT by 381.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 6,878,379 shares of the real estate investment trust’s stock valued at $212,267,000 after buying an additional 5,448,904 shares during the period. FMR LLC increased its position in shares of CareTrust REIT by 209.9% during the third quarter. FMR LLC now owns 5,224,896 shares of the real estate investment trust’s stock valued at $161,240,000 after acquiring an additional 3,538,798 shares during the last quarter. Heitman Real Estate Securities LLC purchased a new stake in shares of CareTrust REIT in the 3rd quarter valued at approximately $27,534,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of CareTrust REIT by 344.0% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 951,535 shares of the real estate investment trust’s stock worth $29,364,000 after acquiring an additional 737,236 shares during the last quarter. Finally, Wellington Management Group LLP lifted its holdings in shares of CareTrust REIT by 5.5% in the 3rd quarter. Wellington Management Group LLP now owns 12,798,055 shares of the real estate investment trust’s stock worth $394,948,000 after acquiring an additional 670,348 shares during the last quarter. 87.77% of the stock is currently owned by hedge funds and other institutional investors.

CareTrust REIT Stock Performance

Shares of CTRE stock opened at $26.05 on Friday. The firm has a 50 day moving average of $26.58 and a two-hundred day moving average of $28.84. The stock has a market capitalization of $4.89 billion, a PE ratio of 32.97, a P/E/G ratio of 1.25 and a beta of 1.09. The company has a quick ratio of 3.82, a current ratio of 3.82 and a debt-to-equity ratio of 0.14. CareTrust REIT, Inc. has a 52 week low of $22.46 and a 52 week high of $33.15.

CareTrust REIT (NASDAQ:CTRE) last posted its quarterly earnings results on Wednesday, February 12th. The real estate investment trust reported $0.29 earnings per share (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 period last year, the business posted $0.25 earnings per share. On average, research analysts predict that CareTrust REIT, Inc. will post 1.71 EPS for the current fiscal year.

CareTrust REIT Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were issued a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 4.45%. The ex-dividend date was Tuesday, December 31st. CareTrust REIT’s dividend payout ratio (DPR) is presently 146.84%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on CTRE shares. BMO Capital Markets downgraded shares of CareTrust REIT from an “outperform” rating to a “market perform” rating and dropped their target price for the company from $34.00 to $32.00 in a report on Monday, December 9th. Wedbush cut CareTrust REIT from a “neutral” rating to an “underperform” rating and dropped their price objective for the company from $34.00 to $26.00 in a research note on Thursday, January 2nd. Finally, Royal Bank of Canada cut their price objective on CareTrust REIT from $37.00 to $32.00 and set an “outperform” rating on the stock in a report on Friday, February 21st. One analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $30.83.

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.