Universal Beteiligungs und Servicegesellschaft mbH Purchases Shares of 228,775 CareTrust REIT, Inc. (NASDAQ:CTRE)

Key Points

• Universal Beteiligungs und Servicegesellschaft mbH has acquired a $6.54 million stake in CareTrust REIT, owning about 0.12% of the company after purchasing 228,775 shares.
• Wells Fargo & Company raised its price target for CareTrust REIT from $31.00 to $32.00, maintaining an "overweight" rating, while the stock has an average rating of "Moderate Buy" and a target of $31.17.
• CareTrust REIT recently announced a quarterly dividend of $0.335 per share, resulting in an annualized dividend of $1.34 and a yield of 4.29%, though the payout ratio stands at 145.65%.

Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 228,775 shares of the real estate investment trust's stock, valued at approximately $6,538,000. Universal Beteiligungs und Servicegesellschaft mbH owned 0.12% of CareTrust REIT as of its most recent SEC filing.

Several other large investors have also modified their holdings of CTRE. Vanguard Group Inc. lifted its holdings in shares of CareTrust REIT by 18.5% in the 4th quarter. Vanguard Group Inc. now owns 27,300,633 shares of the real estate investment trust's stock valued at $738,482,000 after buying an additional 4,263,097 shares during the period. FMR LLC boosted its holdings in shares of CareTrust REIT by 51.8% during the fourth quarter. FMR LLC now owns 7,932,946 shares of the real estate investment trust's stock worth $214,586,000 after purchasing an additional 2,708,050 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of CareTrust REIT by 23.8% during the fourth quarter. Geode Capital Management LLC now owns 4,620,274 shares of the real estate investment trust's stock worth $125,006,000 after purchasing an additional 887,665 shares during the last quarter. Balyasny Asset Management L.P. boosted its holdings in CareTrust REIT by 149.6% in the fourth quarter. Balyasny Asset Management L.P. now owns 2,708,664 shares of the real estate investment trust's stock valued at $73,269,000 after acquiring an additional 1,623,297 shares during the last quarter. Finally, Northern Trust Corp boosted its holdings in CareTrust REIT by 45.1% in the fourth quarter. Northern Trust Corp now owns 2,469,640 shares of the real estate investment trust's stock valued at $66,804,000 after acquiring an additional 767,640 shares during the last quarter. Hedge funds and other institutional investors own 87.77% of the company's stock.

CareTrust REIT Stock Performance

Shares of NASDAQ:CTRE traded up $0.24 during trading on Wednesday, hitting $31.47. 1,908,088 shares of the company traded hands, compared to its average volume of 1,753,969. The stock has a market capitalization of $6.03 billion, a price-to-earnings ratio of 39.84, a PEG ratio of 1.25 and a beta of 0.84. The business's fifty day moving average is $29.94 and its 200-day moving average is $28.35. CareTrust REIT, Inc. has a one year low of $24.79 and a one year high of $33.15. The company has a quick ratio of 3.82, a current ratio of 3.82 and a debt-to-equity ratio of 0.14.

CareTrust REIT Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th were given a dividend of $0.335 per share. The ex-dividend date of this dividend was Monday, June 30th. This represents a $1.34 annualized dividend and a dividend yield of 4.26%. CareTrust REIT's dividend payout ratio is presently 145.65%.

Analyst Upgrades and Downgrades

Separately, Wells Fargo & Company boosted their price objective on CareTrust REIT from $31.00 to $32.00 and gave the stock an "overweight" rating in a research note on Monday, June 2nd. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, CareTrust REIT presently has a consensus rating of "Moderate Buy" and an average target price of $31.17.

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.