Pensionfund DSM Netherlands Takes $1.26 Million Position in CareTrust REIT, Inc. $CTRE

Key Points

• Pensionfund DSM Netherlands has acquired 44,000 shares of CareTrust REIT, Inc. ($CTRE), valued at approximately $1,258,000, indicating growing institutional interest in the real estate investment trust.
• CareTrust REIT recently announced a quarterly dividend of $0.335 per share, which translates to an annualized dividend of $1.34 and a yield of 3.9%.
• Analysts have shown confidence in CareTrust REIT, with several upgrades in target prices, including Wells Fargo increasing its target from $32.00 to $38.00 and Raymond James establishing a strong-buy rating with a target of $39.00.

Pensionfund DSM Netherlands purchased a new position in shares of CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 44,000 shares of the real estate investment trust's stock, valued at approximately $1,258,000.

A number of other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. raised its position in shares of CareTrust REIT by 4.9% during the first quarter. Vanguard Group Inc. now owns 28,636,981 shares of the real estate investment trust's stock worth $818,445,000 after purchasing an additional 1,336,348 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of CareTrust REIT by 2.4% during the first quarter. Charles Schwab Investment Management Inc. now owns 2,960,372 shares of the real estate investment trust's stock worth $84,607,000 after purchasing an additional 68,693 shares during the period. Northern Trust Corp raised its position in shares of CareTrust REIT by 5.6% during the first quarter. Northern Trust Corp now owns 2,606,842 shares of the real estate investment trust's stock worth $74,504,000 after purchasing an additional 137,202 shares during the period. Nuveen Asset Management LLC raised its position in shares of CareTrust REIT by 75.8% during the fourth quarter. Nuveen Asset Management LLC now owns 2,395,809 shares of the real estate investment trust's stock worth $64,807,000 after purchasing an additional 1,032,848 shares during the period. Finally, Two Sigma Advisers LP raised its position in shares of CareTrust REIT by 70.9% during the fourth quarter. Two Sigma Advisers LP now owns 2,388,900 shares of the real estate investment trust's stock worth $64,620,000 after purchasing an additional 991,400 shares during the period. 87.77% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

CTRE has been the topic of a number of research reports. KeyCorp upped their target price on CareTrust REIT from $33.00 to $36.00 and gave the stock an "overweight" rating in a research report on Thursday, August 14th. Raymond James Financial set a $39.00 target price on CareTrust REIT and gave the stock a "strong-buy" rating in a research report on Tuesday, September 2nd. Royal Bank Of Canada reaffirmed an "outperform" rating on shares of CareTrust REIT in a research report on Monday, August 11th. Finally, Wells Fargo & Company increased their price target on CareTrust REIT from $32.00 to $38.00 and gave the company an "overweight" rating in a research report on Wednesday, August 27th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $33.43.

CareTrust REIT Stock Up 1.6%

NASDAQ CTRE traded up $0.56 on Thursday, reaching $34.84. The company had a trading volume of 537,242 shares, compared to its average volume of 1,939,866. The stock has a market capitalization of $7.60 billion, a P/E ratio of 44.13, a P/E/G ratio of 1.25 and a beta of 0.84. The company's fifty day moving average is $32.86 and its 200 day moving average is $30.15. CareTrust REIT, Inc. has a 52-week low of $24.79 and a 52-week high of $34.92. The company has a quick ratio of 3.82, a current ratio of 3.82 and a debt-to-equity ratio of 0.14.

CareTrust REIT Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be given a dividend of $0.335 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $1.34 annualized dividend and a dividend yield of 3.8%. CareTrust REIT's dividend payout ratio (DPR) is currently 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.