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

Illinois Municipal Retirement Fund boosted its holdings in CareTrust REIT, Inc. (NASDAQ:CTRE) by 27.2% in the 4th quarter, Holdings Channel reports. The firm 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’s holdings in CareTrust REIT were worth $2,499,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently bought and sold shares of the business. WealthShield Partners LLC increased its holdings in shares of CareTrust REIT by 1.0% in the fourth quarter. WealthShield Partners LLC now owns 49,119 shares of the real estate investment trust’s stock valued at $1,343,000 after purchasing an additional 490 shares during the period. Quantinno Capital Management LP increased 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 buying an additional 533 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd increased 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 in the last quarter. Blue Trust Inc. raised its position in shares of CareTrust REIT by 50.0% during the 4th quarter. Blue Trust Inc. now owns 1,808 shares of the real estate investment trust’s stock worth $49,000 after purchasing an additional 603 shares during the last quarter. Finally, Pitcairn Co. raised its holdings in shares of CareTrust REIT by 5.3% in 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 during the last quarter. Institutional investors and hedge funds own 87.77% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the stock. Wedbush lowered shares of CareTrust REIT from a “neutral” rating to an “underperform” rating and cut their price objective for the company from $34.00 to $26.00 in a research report on Thursday, January 2nd. Royal Bank of Canada decreased their target price on shares of CareTrust REIT from $37.00 to $32.00 and set an “outperform” rating on the stock in a research report on Friday, February 21st. Finally, BMO Capital Markets lowered shares of CareTrust REIT from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $34.00 to $32.00 in a research report on Monday, December 9th. One investment 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’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $30.83.

CareTrust REIT Stock Up 0.3 %

CTRE opened at $26.05 on Friday. The company has a market cap of $4.89 billion, a PE ratio of 32.97, a price-to-earnings-growth ratio of 1.25 and a beta of 1.09. The company has a debt-to-equity ratio of 0.14, a quick ratio of 3.82 and a current ratio of 3.82. CareTrust REIT, Inc. has a 1 year low of $22.46 and a 1 year high of $33.15. The firm has a 50 day moving average price of $26.58 and a 200 day moving average price of $28.84.

CareTrust REIT (NASDAQ:CTRE) last issued its earnings results on Wednesday, February 12th. The real estate investment trust reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.12). CareTrust REIT had a return on equity of 5.59% and a net margin of 42.22%. During the same period in the previous year, the company posted $0.25 earnings per share. Sell-side analysts expect that CareTrust REIT, Inc. will post 1.71 earnings per share for the current year.

CareTrust REIT Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were given a $0.29 dividend. 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 146.84%.

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.