Public Employees Retirement System of Ohio Raises Holdings in CareTrust REIT, Inc. (NASDAQ:CTRE)

Public Employees Retirement System of Ohio increased its position in CareTrust REIT, Inc. (NASDAQ:CTRE) by 9.5% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 220,510 shares of the real estate investment trust’s stock after acquiring an additional 19,080 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in CareTrust REIT were worth $6,805,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. CWM LLC increased its stake in shares of CareTrust REIT by 16.8% in the third quarter. CWM LLC now owns 3,244 shares of the real estate investment trust’s stock worth $100,000 after purchasing an additional 467 shares in the last quarter. Quantinno Capital Management LP grew its stake in 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 buying an additional 533 shares in the last quarter. United Services Automobile Association raised its holdings in CareTrust REIT by 5.0% during the 2nd quarter. United Services Automobile Association now owns 11,244 shares of the real estate investment trust’s stock valued at $282,000 after acquiring an additional 540 shares during the period. OVERSEA CHINESE BANKING Corp Ltd raised its holdings in CareTrust REIT by 0.4% during the 3rd quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 151,594 shares of the real estate investment trust’s stock valued at $4,678,000 after acquiring an additional 544 shares during the period. Finally, Pitcairn Co. lifted its position in shares of CareTrust REIT by 5.3% during the third quarter. Pitcairn Co. now owns 13,440 shares of the real estate investment trust’s stock worth $415,000 after acquiring an additional 671 shares in the last quarter. 87.77% of the stock is currently owned by institutional investors.

CareTrust REIT Stock Up 0.5 %

Shares of NASDAQ CTRE opened at $28.81 on Friday. The company has a current ratio of 7.60, a quick ratio of 7.60 and a debt-to-equity ratio of 0.16. The business has a 50-day moving average of $30.34 and a 200-day moving average of $28.56. The firm has a market capitalization of $4.94 billion, a price-to-earnings ratio of 40.01, a PEG ratio of 1.59 and a beta of 1.07. CareTrust REIT, Inc. has a 12 month low of $20.10 and a 12 month high of $33.15.

CareTrust REIT (NASDAQ:CTRE) last released its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.21 EPS for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.08). The company had revenue of $77.38 million during the quarter, compared to analysts’ expectations of $74.12 million. CareTrust REIT had a return on equity of 5.32% and a net margin of 36.88%. During the same period in the prior year, the firm earned $0.35 EPS. Sell-side analysts expect that CareTrust REIT, Inc. will post 1.5 earnings per share for the current fiscal year.

CareTrust REIT Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were paid a $0.29 dividend. The ex-dividend date was Monday, September 30th. This represents a $1.16 dividend on an annualized basis and a yield of 4.03%. CareTrust REIT’s dividend payout ratio is presently 161.11%.

Wall Street Analyst Weigh In

CTRE has been the subject of several recent research reports. Wells Fargo & Company upgraded CareTrust REIT from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $28.00 to $34.00 in a research report on Tuesday, October 1st. BMO Capital Markets lowered CareTrust REIT from an “outperform” rating to a “market perform” rating and reduced their target price for the company from $34.00 to $32.00 in a report on Monday, December 9th. KeyCorp increased their price target on shares of CareTrust REIT from $27.00 to $34.00 and gave the stock an “overweight” rating in a report on Monday, October 7th. Finally, Royal Bank of Canada boosted their price objective on shares of CareTrust REIT from $27.00 to $31.00 and gave the company an “outperform” rating in a research note on Thursday, August 22nd. Three analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, CareTrust REIT presently has an average rating of “Moderate Buy” and an average price target of $30.67.

About CareTrust REIT

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.