Public Employees Retirement System of Ohio Raises Stake in CareTrust REIT, Inc. (NASDAQ:CTRE)

Public Employees Retirement System of Ohio lifted its stake in CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) by 20.5% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 265,772 shares of the real estate investment trust's stock after buying an additional 45,262 shares during the quarter. Public Employees Retirement System of Ohio owned approximately 0.16% of CareTrust REIT worth $7,189,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. Quantinno Capital Management LP lifted its holdings in shares of CareTrust REIT by 2.3% in the fourth quarter. Quantinno Capital Management LP now owns 17,482 shares of the real estate investment trust's stock worth $473,000 after buying an additional 385 shares in the last quarter. Signaturefd LLC lifted its holdings in shares of CareTrust REIT by 20.3% in the fourth quarter. Signaturefd LLC now owns 2,628 shares of the real estate investment trust's stock worth $71,000 after buying an additional 443 shares in the last quarter. WealthShield Partners LLC lifted its holdings in shares of CareTrust REIT by 1.0% in the fourth quarter. WealthShield Partners LLC now owns 49,119 shares of the real estate investment trust's stock worth $1,343,000 after buying an additional 490 shares in the last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of CareTrust REIT by 4.9% in the fourth quarter. PNC Financial Services Group Inc. now owns 11,384 shares of the real estate investment trust's stock worth $308,000 after buying an additional 534 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC increased its position in CareTrust REIT by 5.4% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 11,777 shares of the real estate investment trust's stock worth $319,000 after purchasing an additional 601 shares during the last quarter. Hedge funds and other institutional investors own 87.77% of the company's stock.

CareTrust REIT Trading Up 0.8%

CTRE stock traded up $0.24 during mid-day trading on Friday, reaching $28.79. 1,286,772 shares of the stock traded hands, compared to its average volume of 1,820,654. The company has a debt-to-equity ratio of 0.14, a quick ratio of 3.82 and a current ratio of 3.82. CareTrust REIT, Inc. has a one year low of $24.35 and a one year high of $33.15. The stock has a market capitalization of $5.52 billion, a PE ratio of 36.44, a PEG ratio of 1.25 and a beta of 0.88. The business has a 50-day moving average price of $28.48 and a two-hundred day moving average price of $27.83.

CareTrust REIT Increases Dividend

The company 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. This is a boost from CareTrust REIT's previous quarterly dividend of $0.29. The ex-dividend date was Monday, March 31st. This represents a $1.34 dividend on an annualized basis and a yield of 4.66%. CareTrust REIT's payout ratio is 145.65%.

Analyst Ratings Changes

Several brokerages recently weighed in on CTRE. Royal Bank of Canada reduced their price target on shares of CareTrust REIT from $37.00 to $32.00 and set an "outperform" rating on the stock in a research report on Friday, February 21st. Deutsche Bank Aktiengesellschaft upgraded shares of CareTrust REIT from a "hold" rating to a "buy" rating and set a $31.00 price target on the stock in a research report on Thursday, March 13th. Wells Fargo & Company reduced their price target on shares of CareTrust REIT from $34.00 to $31.00 and set an "overweight" rating on the stock in a research report on Monday, March 10th. Finally, Wedbush restated an "underperform" rating and issued a $26.00 price target on shares of CareTrust REIT in a research report on Friday, March 14th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $31.00.

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.