CareTrust REIT, Inc. (NASDAQ:CTRE) Shares Bought by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC lifted its position in CareTrust REIT, Inc. (NASDAQ:CTRE) by 22.3% during the fourth quarter, Holdings Channel reports. The institutional investor owned 28,374 shares of the real estate investment trust’s stock after buying an additional 5,181 shares during the quarter. Mutual of America Capital Management LLC’s holdings in CareTrust REIT were worth $768,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of CTRE. JPMorgan Chase & Co. raised its position in CareTrust REIT by 381.2% in 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 acquiring an additional 5,448,904 shares in the last quarter. Eagle Asset Management Inc. grew its stake in shares of CareTrust REIT by 22.4% in the 3rd quarter. Eagle Asset Management Inc. now owns 428,699 shares of the real estate investment trust’s stock worth $13,264,000 after purchasing an additional 78,560 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new stake in CareTrust REIT during the third quarter valued at approximately $7,475,000. Principal Financial Group Inc. boosted its holdings in CareTrust REIT by 5.2% during the third quarter. Principal Financial Group Inc. now owns 838,306 shares of the real estate investment trust’s stock worth $25,870,000 after buying an additional 41,623 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in CareTrust REIT by 7.4% during the third quarter. Geode Capital Management LLC now owns 3,732,609 shares of the real estate investment trust’s stock worth $115,209,000 after buying an additional 258,271 shares in the last quarter. Institutional investors and hedge funds own 87.77% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on CTRE shares. BMO Capital Markets cut CareTrust REIT from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $34.00 to $32.00 in a report on Monday, December 9th. Royal Bank of Canada cut their target price on CareTrust REIT from $37.00 to $32.00 and set an “outperform” rating on the stock in a research report on Friday, February 21st. Finally, Wedbush downgraded CareTrust REIT from a “neutral” rating to an “underperform” rating and reduced their target price for the company from $34.00 to $26.00 in a report on Thursday, January 2nd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, CareTrust REIT has a consensus rating of “Hold” and an average price target of $30.83.

CareTrust REIT Stock Performance

CTRE stock opened at $25.87 on Monday. The firm has a 50 day moving average of $26.41 and a two-hundred day moving average of $28.74. CareTrust REIT, Inc. has a 12 month low of $23.10 and a 12 month high of $33.15. The company has a market capitalization of $4.85 billion, a price-to-earnings ratio of 32.74, a P/E/G ratio of 1.25 and a beta of 1.11. 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 (NASDAQ:CTRE) last issued its quarterly earnings data on Wednesday, February 12th. The real estate investment trust reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.12). CareTrust REIT had a return on equity of 5.59% and a net margin of 42.22%. During the same quarter in the prior year, the firm earned $0.25 earnings per share. As a group, equities analysts anticipate that CareTrust REIT, Inc. will post 1.71 EPS for the current fiscal year.

CareTrust REIT Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were paid a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 4.48%. The ex-dividend date of this dividend was Tuesday, December 31st. CareTrust REIT’s payout ratio is 146.84%.

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.