CareTrust REIT, Inc. (NASDAQ:CTRE) Position Boosted by Asset Management One Co. Ltd.

Asset Management One Co. Ltd. increased its position in shares of CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) by 4.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 416,091 shares of the real estate investment trust's stock after purchasing an additional 16,008 shares during the quarter. Asset Management One Co. Ltd. owned 0.22% of CareTrust REIT worth $11,892,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in shares of CareTrust REIT by 18.5% in the 4th quarter. Vanguard Group Inc. now owns 27,300,633 shares of the real estate investment trust's stock worth $738,482,000 after buying an additional 4,263,097 shares during the last quarter. FMR LLC grew its position in shares of CareTrust REIT by 51.8% during the 4th quarter. FMR LLC now owns 7,932,946 shares of the real estate investment trust's stock valued at $214,586,000 after buying an additional 2,708,050 shares during the last quarter. Raymond James Financial Inc. bought a new position in CareTrust REIT in the fourth quarter worth about $49,048,000. Balyasny Asset Management L.P. lifted its holdings in CareTrust REIT by 149.6% in the fourth quarter. Balyasny Asset Management L.P. now owns 2,708,664 shares of the real estate investment trust's stock worth $73,269,000 after acquiring an additional 1,623,297 shares during the last quarter. Finally, Norges Bank acquired a new position in CareTrust REIT in the fourth quarter valued at approximately $33,180,000. Institutional investors and hedge funds own 87.77% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on CTRE. Wedbush reaffirmed an "underperform" rating and issued a $26.00 target price on shares of CareTrust REIT in a research report on Friday, March 14th. Wells Fargo & Company raised their target price on CareTrust REIT from $31.00 to $32.00 and gave the company an "overweight" rating in a research report on Monday, June 2nd. Finally, Deutsche Bank Aktiengesellschaft raised CareTrust REIT from a "hold" rating to a "buy" rating and set a $31.00 target price on the stock in a research note on Thursday, March 13th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $31.17.

CareTrust REIT Price Performance

NASDAQ:CTRE traded up $0.02 during midday trading on Monday, hitting $30.62. 2,570,110 shares of the stock were exchanged, compared to its average volume of 1,807,550. The company has a market capitalization of $5.87 billion, a price-to-earnings ratio of 38.76, a P/E/G ratio of 1.25 and a beta of 0.83. The company has a current ratio of 3.82, a quick ratio of 3.82 and a debt-to-equity ratio of 0.14. CareTrust REIT, Inc. has a one year low of $24.79 and a one year high of $33.15. The business has a 50-day moving average price of $29.08 and a two-hundred day moving average price of $27.81.

CareTrust REIT Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be paid a $0.335 dividend. This represents a $1.34 dividend on an annualized basis and a dividend yield of 4.38%. The ex-dividend date of this dividend is Monday, June 30th. CareTrust REIT's dividend payout ratio is presently 145.65%.

CareTrust REIT Company 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.