MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Purchases 96,162 Shares of CareTrust REIT, Inc. $CTRE

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in CareTrust REIT by 90.9%, owning 201,893 shares valued at approximately $5.77 million as of the latest SEC filing.
• CareTrust REIT recently declared a quarterly dividend of $0.335 per share, representing a 4.0% yield and an annualized dividend of $1.34.
• A majority of CareTrust REIT's stock, approximately 87.77%, is held by hedge funds and institutional investors, reflecting significant interest in the company.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) by 90.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 201,893 shares of the real estate investment trust's stock after buying an additional 96,162 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned approximately 0.11% of CareTrust REIT worth $5,770,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC grew its stake in shares of CareTrust REIT by 21.8% in the first quarter. Allspring Global Investments Holdings LLC now owns 86,776 shares of the real estate investment trust's stock worth $2,471,000 after purchasing an additional 15,523 shares during the last quarter. Principal Financial Group Inc. raised its stake in CareTrust REIT by 3.0% in the first quarter. Principal Financial Group Inc. now owns 1,066,093 shares of the real estate investment trust's stock worth $30,469,000 after buying an additional 31,279 shares in the last quarter. KBC Group NV lifted its holdings in CareTrust REIT by 33.6% in the first quarter. KBC Group NV now owns 7,448 shares of the real estate investment trust's stock worth $213,000 after buying an additional 1,875 shares during the period. Cambridge Investment Research Advisors Inc. boosted its position in CareTrust REIT by 8.1% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 48,495 shares of the real estate investment trust's stock valued at $1,386,000 after acquiring an additional 3,626 shares in the last quarter. Finally, Asset Management One Co. Ltd. grew its holdings in shares of CareTrust REIT by 4.0% during the 1st quarter. Asset Management One Co. Ltd. now owns 416,091 shares of the real estate investment trust's stock worth $11,892,000 after acquiring an additional 16,008 shares during the period. Hedge funds and other institutional investors own 87.77% of the company's stock.

Wall Street Analysts Forecast Growth

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

CareTrust REIT Price Performance

Shares of NASDAQ CTRE traded down $0.16 during midday trading on Tuesday, reaching $34.09. The stock had a trading volume of 2,089,023 shares, compared to its average volume of 1,948,111. The company has a debt-to-equity ratio of 0.14, a quick ratio of 3.82 and a current ratio of 3.82. The stock has a 50-day moving average of $32.80 and a 200-day moving average of $30.12. The company has a market capitalization of $7.44 billion, a price-to-earnings ratio of 43.15, a price-to-earnings-growth ratio of 1.25 and a beta of 0.84. CareTrust REIT, Inc. has a 12-month low of $24.79 and a 12-month high of $34.92.

CareTrust REIT Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th will be paid a $0.335 dividend. This represents a $1.34 annualized dividend and a yield of 3.9%. The ex-dividend date is Tuesday, September 30th. CareTrust REIT's dividend payout ratio is presently 111.67%.

About CareTrust REIT

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.