Strs Ohio Makes New $11.23 Million Investment in CareTrust REIT, Inc. $CTRE

Key Points

• Strs Ohio acquired 392,860 shares of CareTrust REIT, Inc., valued at approximately $11.2 million, making up about 0.20% of the company's stock at the end of the most recent quarter.
• CareTrust REIT's stock has received a consensus rating of "Moderate Buy" from analysts, with a target price averaging $33.43.
• The company recently announced a quarterly dividend of $0.335 per share, equating to an annualized yield of 3.9%, with a payout ratio of 111.67%.

Strs Ohio purchased a new stake in shares of CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 392,860 shares of the real estate investment trust's stock, valued at approximately $11,228,000. Strs Ohio owned about 0.20% of CareTrust REIT as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Glen Eagle Advisors LLC purchased a new stake in shares of CareTrust REIT during the 4th quarter valued at about $56,000. Fifth Third Bancorp increased its holdings in CareTrust REIT by 217.5% in the 1st 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 in the last quarter. Twin Tree Management LP purchased a new stake in CareTrust REIT in the 1st quarter worth approximately $58,000. GF Fund Management CO. LTD. purchased a new stake in CareTrust REIT in the 4th quarter worth approximately $76,000. Finally, Pandora Wealth Inc. purchased a new stake in CareTrust REIT in the 1st quarter worth approximately $120,000. Hedge funds and other institutional investors own 87.77% of the company's stock.

CareTrust REIT Trading Up 1.3%

Shares of NASDAQ CTRE traded up $0.45 during mid-day trading on Thursday, reaching $34.73. 1,702,554 shares of the company's stock were exchanged, compared to its average volume of 1,946,866. The firm has a market capitalization of $7.58 billion, a price-to-earnings ratio of 43.97, a PEG ratio of 1.25 and a beta of 0.84. 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 52-week low of $24.79 and a 52-week high of $35.08. The company's 50-day moving average is $32.94 and its 200-day moving average is $30.20.

CareTrust REIT Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be issued a dividend of $0.335 per share. This represents a $1.34 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date is Tuesday, September 30th. CareTrust REIT's dividend payout ratio (DPR) is 111.67%.

Analyst Ratings Changes

CTRE has been the subject of several analyst reports. Wells Fargo & Company increased their target price on shares of CareTrust REIT from $32.00 to $38.00 and gave the stock an "overweight" rating in a report on Wednesday, August 27th. KeyCorp increased their target price on shares of CareTrust REIT from $33.00 to $36.00 and gave the stock an "overweight" rating in a report on Thursday, August 14th. Royal Bank Of Canada reaffirmed an "outperform" rating on shares of CareTrust REIT in a report on Monday, August 11th. Finally, Raymond James Financial set a $39.00 price objective on shares of CareTrust REIT and gave the company a "strong-buy" rating in a report on Tuesday, September 2nd. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, CareTrust REIT presently has an average rating of "Moderate Buy" and a consensus price target of $33.43.

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.