UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Acquires 202,843 Shares of CareTrust REIT, Inc. (NASDAQ:CTRE)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) by 21.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,154,378 shares of the real estate investment trust's stock after purchasing an additional 202,843 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.67% of CareTrust REIT worth $31,226,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CTRE. Barclays PLC raised its holdings in CareTrust REIT by 264.9% during the third quarter. Barclays PLC now owns 259,820 shares of the real estate investment trust's stock worth $8,017,000 after purchasing an additional 188,622 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in CareTrust REIT by 381.2% during the third quarter. JPMorgan Chase & Co. now owns 6,878,379 shares of the real estate investment trust's stock worth $212,267,000 after purchasing an additional 5,448,904 shares in the last quarter. Nisa Investment Advisors LLC raised its holdings in CareTrust REIT by 15.4% during the fourth quarter. Nisa Investment Advisors LLC now owns 50,393 shares of the real estate investment trust's stock worth $1,377,000 after purchasing an additional 6,711 shares in the last quarter. SG Americas Securities LLC increased its holdings in shares of CareTrust REIT by 428.7% in the fourth quarter. SG Americas Securities LLC now owns 29,460 shares of the real estate investment trust's stock valued at $797,000 after buying an additional 23,888 shares in the last quarter. Finally, Janney Montgomery Scott LLC increased its holdings in shares of CareTrust REIT by 3.2% in the fourth quarter. Janney Montgomery Scott LLC now owns 37,297 shares of the real estate investment trust's stock valued at $1,009,000 after buying an additional 1,165 shares in the last quarter. Institutional investors own 87.77% of the company's stock.

CareTrust REIT Trading Up 0.8%

NASDAQ CTRE traded up $0.24 on Friday, hitting $28.79. 1,286,772 shares of the stock were exchanged, compared to its average volume of 1,820,654. CareTrust REIT, Inc. has a 52-week low of $24.35 and a 52-week high of $33.15. 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 company has a market capitalization of $5.52 billion, a price-to-earnings ratio of 36.44, a P/E/G ratio of 1.25 and a beta of 0.88. The company's 50-day moving average price is $28.48 and its two-hundred day moving average price is $27.85.

CareTrust REIT Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were paid a $0.335 dividend. The ex-dividend date was Monday, March 31st. This is an increase from CareTrust REIT's previous quarterly dividend of $0.29. This represents a $1.34 dividend on an annualized basis and a dividend yield of 4.66%. CareTrust REIT's dividend payout ratio is 145.65%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on CTRE. Deutsche Bank Aktiengesellschaft raised CareTrust REIT from a "hold" rating to a "buy" rating and set a $31.00 price target on the stock in a report on Thursday, March 13th. Royal Bank of Canada dropped their price target on CareTrust REIT from $37.00 to $32.00 and set an "outperform" rating on the stock in a report on Friday, February 21st. Wedbush reaffirmed an "underperform" rating and issued a $26.00 price target on shares of CareTrust REIT in a report on Friday, March 14th. Finally, Wells Fargo & Company dropped their price target on CareTrust REIT from $34.00 to $31.00 and set an "overweight" rating on the stock in a report on Monday, March 10th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price 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.