CareTrust REIT, Inc. $CTRE Shares Purchased by UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC

Key Points

• UBS Asset Management has increased its stake in CareTrust REIT, now holding 1,292,881 shares valued at approximately $36.95 million, marking a 12% increase in their position during the first quarter.
• Institutional ownership of CareTrust REIT is high, with 87.77% of the company's stock held by various institutions, reflecting strong investor confidence.
• CareTrust REIT announced a quarterly dividend of $0.335, which reflects an annual yield of 3.9%, demonstrating the company's commitment to returning value to its shareholders.

UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) by 12.0% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,292,881 shares of the real estate investment trust's stock after purchasing an additional 138,503 shares during the quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned 0.67% of CareTrust REIT worth $36,951,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently modified their holdings of CTRE. Bank of America Corp DE boosted its stake in shares of CareTrust REIT by 3.7% during the 4th quarter. Bank of America Corp DE now owns 406,388 shares of the real estate investment trust's stock valued at $10,993,000 after purchasing an additional 14,550 shares in the last quarter. Cetera Investment Advisers increased its holdings in CareTrust REIT by 19.1% during the fourth quarter. Cetera Investment Advisers now owns 32,431 shares of the real estate investment trust's stock valued at $877,000 after buying an additional 5,208 shares during the last quarter. Janus Henderson Group PLC boosted 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 purchasing an additional 4,600 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of CareTrust REIT by 35.4% in 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 period. Finally, Nuveen Asset Management LLC boosted 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 acquiring an additional 1,032,848 shares during the last quarter. Institutional investors own 87.77% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on CTRE shares. Wells Fargo & Company increased their price objective on shares of CareTrust REIT from $32.00 to $38.00 and gave the company an "overweight" rating in a research report on Wednesday, August 27th. Raymond James Financial set a $39.00 target price on shares of CareTrust REIT and gave the company 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, KeyCorp lifted their target price on shares of CareTrust REIT from $33.00 to $36.00 and gave the stock an "overweight" rating in a research note on Thursday, August 14th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, CareTrust REIT presently has a consensus rating of "Moderate Buy" and a consensus target price of $33.43.

CareTrust REIT Stock Performance

Shares of CTRE traded down $0.36 during mid-day trading on Friday, reaching $34.35. 5,518,124 shares of the company's stock were exchanged, compared to its average volume of 1,966,817. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.82 and a quick ratio of 3.82. The stock has a market capitalization of $7.49 billion, a PE ratio of 43.48, a price-to-earnings-growth ratio of 1.25 and a beta of 0.84. The business's fifty day simple moving average is $33.02 and its 200-day simple moving average is $30.26. CareTrust REIT, Inc. has a 52-week low of $24.79 and a 52-week high of $35.08.

CareTrust REIT Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th will be issued a $0.335 dividend. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $1.34 dividend on an annualized basis and a yield of 3.9%. CareTrust REIT's dividend payout ratio (DPR) is 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.