CareTrust REIT, Inc. (NASDAQ:CTRE) Position Boosted by Nuveen Asset Management LLC

Nuveen Asset Management LLC raised its holdings in shares of CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) by 75.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,395,809 shares of the real estate investment trust's stock after purchasing an additional 1,032,848 shares during the period. Nuveen Asset Management LLC owned 1.40% of CareTrust REIT worth $64,807,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of CareTrust REIT by 35.4% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 105,731 shares of the real estate investment trust's stock worth $2,860,000 after purchasing an additional 27,630 shares during the last quarter. Lighthouse Investment Partners LLC grew its position in CareTrust REIT by 17.2% during the fourth quarter. Lighthouse Investment Partners LLC now owns 375,000 shares of the real estate investment trust's stock valued at $10,144,000 after buying an additional 55,000 shares during the period. Janus Henderson Group PLC raised its position in shares of CareTrust REIT by 7.2% in the fourth quarter. Janus Henderson Group PLC now owns 68,833 shares of the real estate investment trust's stock worth $1,861,000 after acquiring an additional 4,600 shares during the period. D. E. Shaw & Co. Inc. boosted its stake in shares of CareTrust REIT by 144.3% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 458,744 shares of the real estate investment trust's stock worth $12,409,000 after acquiring an additional 270,951 shares in the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new stake in shares of CareTrust REIT during the 4th quarter valued at about $4,704,000. 87.77% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have commented on CTRE. Royal Bank of Canada reduced their target price 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 reduced their target price on shares of CareTrust REIT from $34.00 to $31.00 and set an "overweight" rating on the stock in a research note on Monday, March 10th. Wedbush reaffirmed an "underperform" rating and issued a $26.00 price target on shares of CareTrust REIT in a research note on Friday, March 14th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of CareTrust REIT from a "hold" rating to a "buy" rating and set a $31.00 price objective on the stock in a report on Thursday, March 13th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $31.00.

CareTrust REIT Price Performance

Shares of NASDAQ CTRE traded down $0.81 during midday trading on Wednesday, hitting $28.80. The company had a trading volume of 2,576,147 shares, compared to its average volume of 1,819,371. The company has a quick ratio of 3.82, a current ratio of 3.82 and a debt-to-equity ratio of 0.14. The business has a 50-day simple moving average of $28.51 and a two-hundred day simple moving average of $27.96. CareTrust REIT, Inc. has a twelve month low of $24.35 and a twelve month high of $33.15. The firm has a market capitalization of $5.52 billion, a price-to-earnings ratio of 36.46, a price-to-earnings-growth ratio of 1.25 and a beta of 0.88.

CareTrust REIT Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were given a dividend of $0.335 per share. This represents a $1.34 dividend on an annualized basis and a dividend yield of 4.65%. This is a positive change from CareTrust REIT's previous quarterly dividend of $0.29. The ex-dividend date was Monday, March 31st. CareTrust REIT's payout ratio is presently 145.65%.

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.