Public Employees Retirement System of Ohio Acquires Shares of 254,408 CareTrust REIT, Inc. $CTRE

Key Points

• Public Employees Retirement System of Ohio acquired 254,408 CareTrust REIT shares worth approximately $10.3 million, while institutional investors collectively owned 87.77% of the company.
• Analysts maintain a positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $44.82; several firms recently raised their targets to $46–$47.
• CareTrust REIT reported quarterly EPS of $0.51, matching estimates, and pays a $0.39 quarterly dividend, equivalent to a 4.0% yield and $1.56 annualized payout.

Public Employees Retirement System of Ohio acquired a new position in CareTrust REIT, Inc. (NYSE:CTRE - Free Report) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 254,408 shares of the company's stock, valued at approximately $10,265,000. Public Employees Retirement System of Ohio owned 0.11% of CareTrust REIT at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. purchased a new position in CareTrust REIT during the second quarter valued at approximately $1,643,290,000. Deutsche Bank AG purchased a new stake in CareTrust REIT in the 2nd quarter worth approximately $143,963,000. T. Rowe Price Investment Management Inc. boosted its position in CareTrust REIT by 108.5% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 6,493,898 shares of the company's stock worth $234,820,000 after purchasing an additional 3,379,732 shares in the last quarter. Norges Bank acquired a new stake in shares of CareTrust REIT during the 4th quarter worth approximately $114,810,000. Finally, Bank of New York Mellon Corp purchased a new position in shares of CareTrust REIT during the 2nd quarter valued at approximately $102,162,000. Hedge funds and other institutional investors own 87.77% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on CTRE. KeyCorp reissued an "overweight" rating and set a $46.00 price target on shares of CareTrust REIT in a report on Friday, May 29th. Wells Fargo & Company upped their price objective on shares of CareTrust REIT from $42.00 to $47.00 and gave the stock an "overweight" rating in a research report on Monday, June 1st. BMO Capital Markets raised their target price on CareTrust REIT from $46.00 to $47.00 and gave the company an "outperform" rating in a research report on Monday, June 15th. Cantor Fitzgerald raised their target price on CareTrust REIT from $42.00 to $43.00 and gave the company a "neutral" rating in a research report on Monday, August 10th. Finally, Weiss Ratings lowered CareTrust REIT from a "buy (a-)" rating to a "buy (b+)" rating in a research note on Friday, August 21st. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, CareTrust REIT presently has a consensus rating of "Moderate Buy" and a consensus price target of $44.82.

CareTrust REIT Stock Performance

NYSE:CTRE opened at $38.96 on Tuesday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.57 and a current ratio of 0.57. The stock has a market capitalization of $9.21 billion, a PE ratio of 24.50, a P/E/G ratio of 1.54 and a beta of 0.75. CareTrust REIT, Inc. has a fifty-two week low of $32.79 and a fifty-two week high of $43.62. The company has a fifty day moving average of $40.74 and a two-hundred day moving average of $39.78.

CareTrust REIT (NYSE:CTRE - Get Free Report) last announced its earnings results on Thursday, August 6th. The company reported $0.51 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.51. The business had revenue of $161.35 million for the quarter. CareTrust REIT had a net margin of 62.19% and a return on equity of 8.52%. CareTrust REIT has set its FY 2026 guidance at 2.030-2.060 EPS. As a group, research analysts forecast that CareTrust REIT, Inc. will post 2.05 earnings per share for the current fiscal year.

CareTrust REIT Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were issued a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 4.0%. The ex-dividend date was Tuesday, June 30th. CareTrust REIT's payout ratio is presently 98.11%.

CareTrust REIT Company Profile

CareTrust REIT, Inc is a real estate investment trust based in Deerfield Beach, Florida, specializing in the ownership, acquisition and management of net-leased healthcare properties. The company primarily focuses on seniors housing and post-acute care facilities, entering into long-term, triple-net lease agreements with leading operators in the skilled nursing, assisted living, memory care, inpatient rehabilitation and specialty hospital sectors. Through its portfolio, CareTrust REIT aims to provide investors with stable and predictable rental income while supporting the ongoing demand for quality healthcare real estate across the United States.

Since its initial public offering in September 2013, CareTrust REIT has pursued a disciplined acquisition strategy, targeting properties in primary and select secondary markets.

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