CareTrust REIT, Inc. $CTRE Shares Bought 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 raised its stake in shares of CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) by 12.0% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,292,881 shares of the real estate investment trust's stock after purchasing an additional 138,503 shares during the period. 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.

Other hedge funds and other institutional investors have also made changes to their positions in the company. J. W. Coons Advisors LLC lifted its holdings in shares of CareTrust REIT by 4.1% in the 1st quarter. J. W. Coons Advisors LLC now owns 8,876 shares of the real estate investment trust's stock valued at $254,000 after acquiring an additional 347 shares during the last quarter. Norinchukin Bank The lifted its stake in CareTrust REIT by 4.6% in the first quarter. Norinchukin Bank The now owns 8,662 shares of the real estate investment trust's stock worth $248,000 after purchasing an additional 382 shares during the last quarter. Quantinno Capital Management LP lifted its stake in 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 purchasing an additional 385 shares during the last quarter. Envestnet Portfolio Solutions Inc. lifted its stake in CareTrust REIT by 4.5% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 10,022 shares of the real estate investment trust's stock worth $286,000 after purchasing an additional 435 shares during the last quarter. Finally, Smartleaf Asset Management LLC lifted its stake in CareTrust REIT by 10.4% in the first quarter. Smartleaf Asset Management LLC now owns 5,555 shares of the real estate investment trust's stock worth $161,000 after purchasing an additional 523 shares during the last quarter. Institutional investors own 87.77% of the company's stock.

Analysts Set New Price Targets

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

CareTrust REIT Stock Performance

Shares of NASDAQ:CTRE traded down $0.30 on Friday, hitting $34.42. 756,301 shares of the company were exchanged, compared to its average volume of 1,940,062. CareTrust REIT, Inc. has a 1-year low of $24.79 and a 1-year high of $35.08. The stock's 50 day moving average price is $32.94 and its 200 day moving average price is $30.20. The company has a current ratio of 3.82, a quick ratio of 3.82 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $7.51 billion, a P/E ratio of 43.56, a price-to-earnings-growth ratio of 1.25 and a beta of 0.84.

CareTrust REIT Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be given a dividend of $0.335 per share. The ex-dividend date is Tuesday, September 30th. This represents a $1.34 dividend on an annualized basis and a yield of 3.9%. CareTrust REIT's payout ratio is currently 111.67%.

About CareTrust REIT

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.