MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) by 35.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 105,731 shares of the real estate investment trust's stock after purchasing an additional 27,630 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned about 0.06% of CareTrust REIT worth $2,860,000 at the end of the most recent reporting period.
A number of other hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. boosted its holdings in shares of CareTrust REIT by 18.5% in the 4th quarter. Vanguard Group Inc. now owns 27,300,633 shares of the real estate investment trust's stock valued at $738,482,000 after acquiring an additional 4,263,097 shares during the last quarter. FMR LLC boosted its holdings in shares of CareTrust REIT by 51.8% in the 4th quarter. FMR LLC now owns 7,932,946 shares of the real estate investment trust's stock valued at $214,586,000 after acquiring an additional 2,708,050 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of 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 acquiring an additional 5,448,904 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of CareTrust REIT by 23.8% in the 4th quarter. Geode Capital Management LLC now owns 4,620,274 shares of the real estate investment trust's stock valued at $125,006,000 after acquiring an additional 887,665 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of CareTrust REIT by 24.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,891,679 shares of the real estate investment trust's stock valued at $78,220,000 after acquiring an additional 568,634 shares during the last quarter. Institutional investors and hedge funds own 87.77% of the company's stock.
Wall Street Analyst Weigh In
Several analysts have recently commented on CTRE shares. Wells Fargo & Company dropped their price objective on shares of CareTrust REIT from $34.00 to $31.00 and set an "overweight" rating on the stock in a report on Monday, March 10th. Wedbush reissued an "underperform" rating and set a $26.00 price target on shares of CareTrust REIT in a report on Friday, March 14th. Royal Bank of Canada lowered their price target on shares of CareTrust REIT from $37.00 to $32.00 and set an "outperform" rating on the stock in a report on Friday, February 21st. Finally, Deutsche Bank Aktiengesellschaft raised shares of CareTrust REIT from a "hold" rating to a "buy" rating and set a $31.00 price target on the stock in a report on Thursday, March 13th. One equities research 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. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $31.00.
Read Our Latest Stock Analysis on CareTrust REIT
CareTrust REIT Stock Performance
NASDAQ CTRE traded up $0.27 during mid-day trading on Friday, reaching $28.59. 1,059,090 shares of the stock were exchanged, compared to its average volume of 1,820,471. 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 business's 50 day moving average is $28.50 and its 200-day moving average is $27.93. The company has a market capitalization of $5.48 billion, a P/E ratio of 36.19, a P/E/G ratio of 1.25 and a beta of 0.88. CareTrust REIT, Inc. has a 1 year low of $24.35 and a 1 year high of $33.15.
CareTrust REIT Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were given a dividend of $0.335 per share. The ex-dividend date of this dividend was Monday, March 31st. This is a boost from CareTrust REIT's previous quarterly dividend of $0.29. This represents a $1.34 dividend on an annualized basis and a yield of 4.69%. CareTrust REIT's dividend payout ratio is currently 145.65%.
CareTrust REIT Company Profile
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Free Report)
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.
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