Nomura Asset Management Co. Ltd. Acquires 12,940 Shares of CareTrust REIT, Inc. (NASDAQ:CTRE)

Nomura Asset Management Co. Ltd. boosted its position in shares of CareTrust REIT, Inc. (NASDAQ:CTRE) by 6.6% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 208,800 shares of the real estate investment trust’s stock after purchasing an additional 12,940 shares during the quarter. Nomura Asset Management Co. Ltd. owned 0.12% of CareTrust REIT worth $6,444,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. CWM LLC lifted its position in CareTrust REIT by 16.8% during the 3rd quarter. CWM LLC now owns 3,244 shares of the real estate investment trust’s stock worth $100,000 after buying an additional 467 shares in the last quarter. Quantinno Capital Management LP boosted its position in shares of CareTrust REIT by 3.2% in the third quarter. Quantinno Capital Management LP now owns 17,097 shares of the real estate investment trust’s stock valued at $528,000 after acquiring an additional 533 shares during the period. United Services Automobile Association increased its position in CareTrust REIT by 5.0% during the second quarter. United Services Automobile Association now owns 11,244 shares of the real estate investment trust’s stock worth $282,000 after acquiring an additional 540 shares during the period. OVERSEA CHINESE BANKING Corp Ltd raised its stake in CareTrust REIT by 0.4% in the 3rd quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 151,594 shares of the real estate investment trust’s stock worth $4,678,000 after purchasing an additional 544 shares in the last quarter. Finally, Pitcairn Co. boosted its holdings in CareTrust REIT by 5.3% in the 3rd quarter. Pitcairn Co. now owns 13,440 shares of the real estate investment trust’s stock valued at $415,000 after purchasing an additional 671 shares during the period. 87.77% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

CTRE has been the topic of a number of recent analyst reports. KeyCorp raised their price target on CareTrust REIT from $27.00 to $34.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. BMO Capital Markets cut 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 research report on Monday. Wells Fargo & Company upgraded shares of CareTrust REIT from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $28.00 to $34.00 in a research report on Tuesday, October 1st. 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 report on Thursday, August 22nd. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $30.67.

CareTrust REIT Price Performance

CTRE stock opened at $28.66 on Friday. CareTrust REIT, Inc. has a 1 year low of $20.10 and a 1 year high of $33.15. The company has a debt-to-equity ratio of 0.16, a current ratio of 7.60 and a quick ratio of 7.60. The stock has a market cap of $4.91 billion, a price-to-earnings ratio of 39.81 and a beta of 1.07. The company has a 50 day simple moving average of $30.37 and a 200 day simple moving average of $28.54.

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

CareTrust REIT Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were given a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 4.05%. The ex-dividend date of this dividend was Monday, September 30th. CareTrust REIT’s dividend payout ratio (DPR) is currently 161.11%.

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.