1,716,217 Shares in CareTrust REIT, Inc. $CTRE Purchased by Nuveen LLC

Key Points

• Nuveen LLC acquired 1,716,217 shares of CareTrust REIT, Inc. for approximately $49 million, increasing its stake to about 0.90% by the end of the recent quarter.
• Analysts have a positive outlook on CareTrust REIT, with KeyCorp raising its target price to $36.00 and multiple reviews resulting in a consensus rating of "Moderate Buy."
• The company offers a quarterly dividend of $0.335 per share, yielding around 4.0%, though its payout ratio is currently at an unusually high 111.67%.

Nuveen LLC acquired a new position in CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 1,716,217 shares of the real estate investment trust's stock, valued at approximately $49,049,000. Nuveen LLC owned 0.90% of CareTrust REIT at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Quarry LP grew its holdings in shares of CareTrust REIT by 463.5% in the fourth quarter. Quarry LP now owns 1,854 shares of the real estate investment trust's stock worth $50,000 after acquiring an additional 1,525 shares during the period. Glen Eagle Advisors LLC bought a new stake in shares of CareTrust REIT in the fourth quarter worth $56,000. Fifth Third Bancorp grew its holdings in shares of CareTrust REIT by 217.5% in the first quarter. Fifth Third Bancorp now owns 1,978 shares of the real estate investment trust's stock worth $57,000 after acquiring an additional 1,355 shares during the period. GF Fund Management CO. LTD. bought a new stake in shares of CareTrust REIT in the fourth quarter worth $76,000. Finally, Pandora Wealth Inc. bought a new stake in shares of CareTrust REIT in the first quarter worth $120,000. Institutional investors own 87.77% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on CTRE. KeyCorp lifted their price objective on CareTrust REIT from $33.00 to $36.00 and gave the stock an "overweight" rating in a report on Thursday, August 14th. Wells Fargo & Company boosted their price target on CareTrust REIT from $31.00 to $32.00 and gave the company an "overweight" rating in a report on Monday, June 2nd. Finally, Royal Bank Of Canada reissued an "outperform" rating on shares of CareTrust REIT in a report on Monday, August 11th. Four investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $31.50.

CareTrust REIT Price Performance

Shares of CareTrust REIT stock traded down $0.04 during trading hours on Tuesday, hitting $33.54. The company's stock had a trading volume of 510,496 shares, compared to its average volume of 1,948,633. The business has a 50 day moving average price of $31.06 and a two-hundred day moving average price of $28.95. CareTrust REIT, Inc. has a 12-month low of $24.79 and a 12-month high of $34.00. The company has a market cap of $6.72 billion, a PE ratio of 42.46, a PEG ratio of 1.25 and a beta of 0.85. 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 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th were given a $0.335 dividend. This represents a $1.34 annualized dividend and a dividend yield of 4.0%. The ex-dividend date was Monday, June 30th. CareTrust REIT's payout ratio is presently 111.67%.

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.