California State Teachers Retirement System Buys 55,368 Shares of CareTrust REIT, Inc. $CTRE

Key Points

• California State Teachers Retirement System increased its CareTrust REIT stake by 26.1%, purchasing 55,368 shares to own 267,333 shares valued at approximately $9.8 million. Institutional investors collectively hold 87.77% of CTRE’s outstanding stock.
• Analysts remain broadly positive, with CTRE carrying a “Moderate Buy” consensus rating and an average price target of $44.82; recent targets range from $43 to $47.
• CareTrust REIT shares opened at $41.25, near their 52-week high, while the company maintains a quarterly dividend of $0.39 per share, equivalent to a 3.8% annualized yield.

California State Teachers Retirement System boosted its stake in CareTrust REIT, Inc. (NYSE:CTRE - Free Report) by 26.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 267,333 shares of the company's stock after purchasing an additional 55,368 shares during the quarter. California State Teachers Retirement System owned about 0.11% of CareTrust REIT worth $9,798,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. D.A. Davidson & CO. increased its holdings in shares of CareTrust REIT by 0.7% during the fourth quarter. D.A. Davidson & CO. now owns 40,781 shares of the company's stock valued at $1,475,000 after acquiring an additional 282 shares in the last quarter. Swiss Life Asset Management Ltd raised its position in shares of CareTrust REIT by 2.9% during the fourth quarter. Swiss Life Asset Management Ltd now owns 10,309 shares of the company's stock worth $373,000 after purchasing an additional 291 shares during the period. Kestra Private Wealth Services LLC lifted its holdings in shares of CareTrust REIT by 1.1% in the 1st quarter. Kestra Private Wealth Services LLC now owns 27,684 shares of the company's stock worth $1,015,000 after purchasing an additional 297 shares in the last quarter. Tocqueville Asset Management L.P. lifted its holdings in shares of CareTrust REIT by 2.8% in the 3rd quarter. Tocqueville Asset Management L.P. now owns 10,900 shares of the company's stock worth $378,000 after purchasing an additional 300 shares in the last quarter. Finally, UMB Bank n.a. lifted its holdings in shares of CareTrust REIT by 25.3% in the 4th quarter. UMB Bank n.a. now owns 1,525 shares of the company's stock worth $55,000 after purchasing an additional 308 shares in the last quarter. 87.77% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on CTRE. Citigroup reissued a "market outperform" rating on shares of CareTrust REIT in a research report on Wednesday, June 10th. KeyCorp reaffirmed an "overweight" rating and issued a $46.00 price objective on shares of CareTrust REIT in a research note on Friday, May 29th. Wells Fargo & Company raised their price objective on shares of CareTrust REIT from $42.00 to $47.00 and gave the company an "overweight" rating in a research note on Monday, June 1st. Raymond James Financial began coverage on shares of CareTrust REIT in a report on Tuesday, June 16th. They set an "outperform" rating and a $43.00 price objective for the company. Finally, Weiss Ratings downgraded shares of CareTrust REIT from a "buy (a-)" rating to a "buy (b+)" rating in a research report on Tuesday, July 21st. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $44.82.

CareTrust REIT Stock Performance

Shares of CTRE opened at $41.25 on Tuesday. The stock has a 50 day moving average of $40.14 and a 200 day moving average of $39.44. The company has a market capitalization of $9.74 billion, a price-to-earnings ratio of 26.44, a PEG ratio of 1.89 and a beta of 0.75. CareTrust REIT, Inc. has a 12 month low of $31.92 and a 12 month high of $43.62. The company has a current ratio of 2.38, a quick ratio of 2.37 and a debt-to-equity ratio of 0.22.

CareTrust REIT Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were paid a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date was Tuesday, June 30th. CareTrust REIT's payout ratio is presently 100.00%.

CareTrust REIT Profile

CareTrust REIT, Inc is a real estate investment trust based in Deerfield Beach, Florida, specializing in the ownership, acquisition and management of net-leased healthcare properties. The company primarily focuses on seniors housing and post-acute care facilities, entering into long-term, triple-net lease agreements with leading operators in the skilled nursing, assisted living, memory care, inpatient rehabilitation and specialty hospital sectors. Through its portfolio, CareTrust REIT aims to provide investors with stable and predictable rental income while supporting the ongoing demand for quality healthcare real estate across the United States.

Since its initial public offering in September 2013, CareTrust REIT has pursued a disciplined acquisition strategy, targeting properties in primary and select secondary markets.

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