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. increased its position in CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) by 90.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor 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 0.11% of CareTrust REIT worth $5,770,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in CTRE. Glen Eagle Advisors LLC purchased a new stake in shares of CareTrust REIT in the fourth quarter worth about $56,000. Fifth Third Bancorp lifted its position in shares of 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 in the last quarter. Twin Tree Management LP purchased a new stake in CareTrust REIT during the first quarter valued at approximately $58,000. GF Fund Management CO. LTD. purchased a new stake in CareTrust REIT during the fourth quarter valued at approximately $76,000. Finally, Pandora Wealth Inc. purchased a new stake in CareTrust REIT during the first quarter valued at approximately $120,000. 87.77% of the stock is currently owned by hedge funds and other institutional investors.

CareTrust REIT Trading Up 0.1%

Shares of NASDAQ CTRE traded up $0.03 during midday trading on Friday, hitting $34.23. The company's stock had a trading volume of 1,175,571 shares, compared to its average volume of 1,950,985. The company has a current ratio of 3.82, a quick ratio of 3.82 and a debt-to-equity ratio of 0.14. The business's 50 day moving average is $32.67 and its two-hundred day moving average is $30.00. CareTrust REIT, Inc. has a 12-month low of $24.79 and a 12-month high of $34.92. The firm has a market cap of $7.47 billion, a P/E ratio of 43.32, a price-to-earnings-growth ratio of 1.25 and a beta of 0.84.

CareTrust REIT Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th were issued a $0.335 dividend. This represents a $1.34 annualized dividend and a dividend yield of 3.9%. The ex-dividend date was Monday, June 30th. CareTrust REIT's dividend payout ratio is presently 111.67%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Raymond James Financial set a $39.00 price objective on CareTrust REIT and gave the company a "strong-buy" rating in a research report on Tuesday, September 2nd. KeyCorp upped their price objective on CareTrust REIT from $33.00 to $36.00 and gave the company an "overweight" rating in a research report on Thursday, August 14th. Royal Bank Of Canada restated an "outperform" rating on shares of CareTrust REIT in a research report on Monday, August 11th. 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 research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $33.43.

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.