Charles Schwab Investment Management Inc. Grows Stock Holdings in CareTrust REIT, Inc. $CTRE

Key Points

• Charles Schwab Investment Management Inc. increased its stake in CareTrust REIT by 2.4%, owning 2,960,372 shares worth approximately $84.6 million as of the latest SEC filing.
• Multiple other institutional investors, including Wells Fargo and Invesco, have also raised their stakes in CareTrust REIT, with hedge funds now holding 87.77% of the company's stock.
• CareTrust REIT recently paid a quarterly dividend of $0.335 per share, resulting in an annualized dividend of $1.34 and a dividend yield of 4.1%.

Charles Schwab Investment Management Inc. raised its position in shares of CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) by 2.4% in the first quarter, according to its most recent filing with the SEC. The firm owned 2,960,372 shares of the real estate investment trust's stock after purchasing an additional 68,693 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 1.54% of CareTrust REIT worth $84,607,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the company. Wells Fargo & Company MN grew its stake in CareTrust REIT by 20.5% during the fourth quarter. Wells Fargo & Company MN now owns 283,387 shares of the real estate investment trust's stock worth $7,666,000 after purchasing an additional 48,139 shares during the period. Invesco Ltd. grew its stake in shares of CareTrust REIT by 26.7% in the 4th quarter. Invesco Ltd. now owns 1,275,644 shares of the real estate investment trust's stock valued at $34,506,000 after buying an additional 268,971 shares during the period. Capital Fund Management S.A. acquired a new position in shares of CareTrust REIT during the fourth quarter valued at about $1,594,000. Sterling Capital Management LLC grew its holdings in shares of CareTrust REIT by 4,585.3% during the fourth quarter. Sterling Capital Management LLC now owns 21,740 shares of the real estate investment trust's stock valued at $588,000 after buying an additional 21,276 shares during the last quarter. Finally, Summit Investment Advisors Inc. boosted its position in shares of CareTrust REIT by 34.4% during the fourth quarter. Summit Investment Advisors Inc. now owns 19,426 shares of the real estate investment trust's stock valued at $525,000 after buying an additional 4,974 shares during the last quarter. 87.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

CTRE has been the topic of a number of analyst reports. Royal Bank Of Canada reaffirmed an "outperform" rating on shares of CareTrust REIT in a report on Monday, August 11th. 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 report on Monday, June 2nd. Finally, KeyCorp boosted 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. One analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat, CareTrust REIT presently has an average rating of "Moderate Buy" and a consensus price target of $31.50.

CareTrust REIT Stock Performance

Shares of CTRE stock traded down $0.33 during trading on Monday, reaching $33.57. 774,782 shares of the company's stock traded hands, compared to its average volume of 1,945,635. The company has a market capitalization of $6.72 billion, a P/E ratio of 42.46, a PEG ratio of 1.25 and a beta of 0.85. The firm's 50-day moving average is $30.97 and its 200 day moving average is $28.90. CareTrust REIT, Inc. has a 1 year low of $24.79 and a 1 year high of $34.00. 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 Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th were issued a $0.335 dividend. The ex-dividend date of this dividend was Monday, June 30th. This represents a $1.34 annualized dividend and a dividend yield of 4.0%. CareTrust REIT's dividend payout ratio (DPR) is presently 111.67%.

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.