CareTrust REIT, Inc. $CTRE Stake Raised by Public Employees Retirement System of Ohio

Key Points

• The Public Employees Retirement System of Ohio increased its stake in CareTrust REIT by 5.2%, owning approximately 278,059 shares worth $8.5 million as of the latest SEC filing.
• CareTrust REIT announced a quarterly dividend of $0.335 per share, scheduled to be paid on October 15, representing an annualized yield of 3.9%.
• Analyst ratings for CareTrust REIT include a number of "Buy" and "Strong Buy" recommendations, with the stock having a consensus target price of $33.43.

Public Employees Retirement System of Ohio grew its holdings in shares of CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) by 5.2% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 278,059 shares of the real estate investment trust's stock after purchasing an additional 13,665 shares during the period. Public Employees Retirement System of Ohio owned approximately 0.15% of CareTrust REIT worth $8,509,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in the business. Parallel Advisors LLC raised its holdings in shares of CareTrust REIT by 109.5% in the 2nd quarter. Parallel Advisors LLC now owns 1,100 shares of the real estate investment trust's stock worth $34,000 after purchasing an additional 575 shares in the last quarter. Fifth Third Bancorp grew its position in 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 buying an additional 1,355 shares during the last quarter. Twin Tree Management LP bought a new position in shares of CareTrust REIT in the first quarter valued at $58,000. GF Fund Management CO. LTD. lifted its position in shares of CareTrust REIT by 26.6% during the 1st quarter. GF Fund Management CO. LTD. now owns 3,548 shares of the real estate investment trust's stock valued at $101,000 after acquiring an additional 746 shares during the last quarter. Finally, Pandora Wealth Inc. bought a new stake in shares of CareTrust REIT during the 1st quarter worth $120,000. Institutional investors and hedge funds own 87.77% of the company's stock.

CareTrust REIT Trading Up 0.9%

Shares of NASDAQ CTRE opened at $34.76 on Friday. 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 $35.18. The business has a 50-day moving average price of $33.40 and a two-hundred day moving average price of $30.58. The firm has a market capitalization of $7.58 billion, a PE ratio of 44.00, a PEG ratio of 1.25 and a beta of 0.84.

CareTrust REIT Announces Dividend

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

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on CTRE shares. Raymond James Financial set a $39.00 target price on CareTrust REIT and gave the stock a "strong-buy" rating in a research report on Tuesday, September 2nd. Royal Bank Of Canada restated an "outperform" rating on shares of CareTrust REIT in a report on Monday, August 11th. KeyCorp raised 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. Finally, Wells Fargo & Company boosted their price target on shares of CareTrust REIT from $32.00 to $38.00 and gave the company an "overweight" rating in a report on Wednesday, August 27th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price 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.

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