California State Teachers Retirement System Has $3.96 Million Stake in CareTrust REIT, Inc. (NASDAQ:CTRE)

California State Teachers Retirement System grew its holdings in shares of CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) by 9.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 146,482 shares of the real estate investment trust's stock after purchasing an additional 12,061 shares during the period. California State Teachers Retirement System owned about 0.08% of CareTrust REIT worth $3,962,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the business. Barclays PLC increased its position in shares of CareTrust REIT by 264.9% in the third quarter. Barclays PLC now owns 259,820 shares of the real estate investment trust's stock worth $8,017,000 after purchasing an additional 188,622 shares during the period. JPMorgan Chase & Co. increased its holdings in CareTrust REIT by 381.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 6,878,379 shares of the real estate investment trust's stock valued at $212,267,000 after buying an additional 5,448,904 shares during the period. Janney Montgomery Scott LLC increased its holdings in CareTrust REIT by 3.2% in the 4th quarter. Janney Montgomery Scott LLC now owns 37,297 shares of the real estate investment trust's stock valued at $1,009,000 after buying an additional 1,165 shares during the period. Blue Trust Inc. raised its position in shares of CareTrust REIT by 50.0% in the 4th quarter. Blue Trust Inc. now owns 1,808 shares of the real estate investment trust's stock valued at $49,000 after buying an additional 603 shares in the last quarter. Finally, KBC Group NV lifted its holdings in shares of CareTrust REIT by 57.7% during the 4th quarter. KBC Group NV now owns 5,573 shares of the real estate investment trust's stock worth $151,000 after acquiring an additional 2,039 shares during the period. 87.77% of the stock is owned by institutional investors.

CareTrust REIT Price Performance

Shares of CTRE traded up $0.04 during trading hours on Friday, reaching $29.21. The stock had a trading volume of 414,642 shares, compared to its average volume of 1,808,123. The company has a debt-to-equity ratio of 0.14, a quick ratio of 3.82 and a current ratio of 3.82. CareTrust REIT, Inc. has a 12 month low of $24.35 and a 12 month high of $33.15. The stock has a market capitalization of $5.60 billion, a PE ratio of 36.96, a PEG ratio of 1.25 and a beta of 0.88. The company's 50-day moving average is $28.50 and its two-hundred day moving average is $27.83.

CareTrust REIT Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were given a dividend of $0.335 per share. The ex-dividend date was Monday, March 31st. This is an increase from CareTrust REIT's previous quarterly dividend of $0.29. This represents a $1.34 annualized dividend and a yield of 4.59%. CareTrust REIT's dividend payout ratio (DPR) is currently 145.65%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on CTRE. Wedbush reissued an "underperform" rating and issued a $26.00 price objective on shares of CareTrust REIT in a research note on Friday, March 14th. Royal Bank of Canada lowered their price target on CareTrust REIT from $37.00 to $32.00 and set an "outperform" rating for the company in a report on Friday, February 21st. Wells Fargo & Company upped their price objective on CareTrust REIT from $31.00 to $32.00 and gave the stock an "overweight" rating in a research report on Monday. Finally, Deutsche Bank Aktiengesellschaft raised CareTrust REIT from a "hold" rating to a "buy" rating and set a $31.00 price objective on the stock in a research note on Thursday, March 13th. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat.com, CareTrust REIT currently has an average rating of "Moderate Buy" and an average target price of $31.17.

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.