115,011 Shares in CareTrust REIT, Inc. $CTRE Bought by Uniplan Investment Counsel Inc.

Key Points

• Uniplan Investment Counsel Inc. purchased a new position in CareTrust REIT, acquiring 115,011 shares valued at approximately $3.29 million.
• CareTrust REIT recently declared a quarterly dividend of $0.335, equating to an annualized dividend of $1.34 and a dividend yield of 3.9%.
• Analysts have set new price targets for CareTrust REIT, with estimates ranging from $36.00 to $39.00, indicating a generally positive outlook on the stock.

Uniplan Investment Counsel Inc. bought a new position in CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 115,011 shares of the real estate investment trust's stock, valued at approximately $3,287,000. Uniplan Investment Counsel Inc. owned about 0.06% of CareTrust REIT as of its most recent filing with the SEC.

Other institutional investors have also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC lifted its stake in shares of CareTrust REIT by 21.8% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 86,776 shares of the real estate investment trust's stock worth $2,471,000 after purchasing an additional 15,523 shares during the period. Principal Financial Group Inc. lifted its stake in shares of CareTrust REIT by 3.0% in the 1st quarter. Principal Financial Group Inc. now owns 1,066,093 shares of the real estate investment trust's stock worth $30,469,000 after purchasing an additional 31,279 shares during the period. KBC Group NV lifted its stake in shares of CareTrust REIT by 33.6% in the 1st quarter. KBC Group NV now owns 7,448 shares of the real estate investment trust's stock worth $213,000 after purchasing an additional 1,875 shares during the period. Cambridge Investment Research Advisors Inc. lifted its stake in shares of CareTrust REIT by 8.1% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 48,495 shares of the real estate investment trust's stock worth $1,386,000 after purchasing an additional 3,626 shares during the period. Finally, Asset Management One Co. Ltd. lifted its stake in shares of CareTrust REIT by 4.0% in the 1st quarter. Asset Management One Co. Ltd. now owns 416,091 shares of the real estate investment trust's stock worth $11,892,000 after purchasing an additional 16,008 shares during the period. Institutional investors own 87.77% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. KeyCorp upped their price target 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 boosted their price objective on CareTrust REIT from $32.00 to $38.00 and gave the company an "overweight" rating in a research report on Wednesday, August 27th. Royal Bank Of Canada reissued an "outperform" rating on shares of CareTrust REIT in a report on Monday, August 11th. Finally, Raymond James Financial set a $39.00 price target on CareTrust REIT and gave the stock a "strong-buy" rating in a report on Tuesday, September 2nd. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $33.43.

CareTrust REIT Price Performance

Shares of CareTrust REIT stock traded down $0.08 on Wednesday, hitting $33.82. 1,328,567 shares of the company traded hands, compared to its average volume of 1,955,493. The stock has a market capitalization of $7.38 billion, a P/E ratio of 42.81, a price-to-earnings-growth ratio of 1.25 and a beta of 0.84. 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 52 week low of $24.79 and a 52 week high of $34.92. The business has a 50-day simple moving average of $32.49 and a 200 day simple moving average of $29.83.

CareTrust REIT Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 30th were given a $0.335 dividend. This represents a $1.34 annualized dividend and a yield of 4.0%. The ex-dividend date was Monday, June 30th. CareTrust REIT's payout ratio is currently 111.67%.

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.