Swiss National Bank Purchases 59,600 Shares of CareTrust REIT, Inc. $CTRE

Key Points

• Swiss National Bank increased its holdings in CareTrust REIT by 19.6%, acquiring an additional 59,600 shares, bringing its total ownership to approximately $10.4 million.
• Several other institutional investors also increased their stakes in CareTrust REIT, with notable boosts from Wells Fargo, Sterling Capital, and Barclays, reflecting strong interest in the stock.
• CareTrust REIT announced a quarterly dividend of $0.335 per share, representing an annualized yield of 4.0% and a high dividend payout ratio of 111.67%.

Swiss National Bank lifted its position in shares of CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) by 19.6% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 362,949 shares of the real estate investment trust's stock after buying an additional 59,600 shares during the quarter. Swiss National Bank owned approximately 0.19% of CareTrust REIT worth $10,373,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. Quarry LP lifted its stake in CareTrust REIT by 463.5% in the 4th quarter. Quarry LP now owns 1,854 shares of the real estate investment trust's stock worth $50,000 after purchasing an additional 1,525 shares in the last quarter. Fifth Third Bancorp lifted its stake in CareTrust REIT by 217.5% in the 1st quarter. Fifth Third Bancorp now owns 1,978 shares of the real estate investment trust's stock worth $57,000 after purchasing an additional 1,355 shares in the last quarter. Glen Eagle Advisors LLC purchased a new stake in CareTrust REIT in the 4th quarter worth $56,000. GF Fund Management CO. LTD. purchased a new stake in CareTrust REIT in the 4th quarter worth $76,000. Finally, State of Wyoming purchased a new stake in CareTrust REIT in the 4th quarter worth $152,000. Hedge funds and other institutional investors own 87.77% of the company's stock.

CareTrust REIT Price Performance

Shares of NASDAQ CTRE traded up $0.3990 during mid-day trading on Thursday, hitting $34.7090. 84,848 shares of the company's stock traded hands, compared to its average volume of 1,952,557. The company's 50-day moving average is $31.27 and its two-hundred day moving average is $29.02. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.82 and a quick ratio of 3.82. The company has a market capitalization of $6.95 billion, a P/E ratio of 43.91, a PEG ratio of 1.25 and a beta of 0.85. CareTrust REIT, Inc. has a 1 year low of $24.79 and a 1 year high of $34.69.

CareTrust REIT Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th were given a dividend of $0.335 per share. 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 currently 111.67%.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. KeyCorp boosted their price target on shares of CareTrust REIT from $33.00 to $36.00 and gave the stock an "overweight" rating in a research note on Thursday, August 14th. Wells Fargo & Company boosted their price target on shares of CareTrust REIT from $31.00 to $32.00 and gave the stock an "overweight" rating in a research note on Monday, June 2nd. Finally, Royal Bank Of Canada reiterated an "outperform" rating on shares of CareTrust REIT in a research note on Monday, August 11th. Four equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $31.50.

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.