MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Grows Position in CareTrust REIT, Inc. (NASDAQ:CTRE)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of CareTrust REIT, Inc. (NASDAQ:CTRE) by 35.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 105,731 shares of the real estate investment trust’s stock after acquiring an additional 27,630 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.’s holdings in CareTrust REIT were worth $2,860,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of CTRE. JPMorgan Chase & Co. grew its position in shares of 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 valued at $212,267,000 after purchasing an additional 5,448,904 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of CareTrust REIT by 5.3% during the 4th quarter. Bank of New York Mellon Corp now owns 2,505,883 shares of the real estate investment trust’s stock worth $67,784,000 after acquiring an additional 126,280 shares in the last quarter. Corient Private Wealth LLC boosted its position in shares of CareTrust REIT by 9.2% during the 4th quarter. Corient Private Wealth LLC now owns 22,481 shares of the real estate investment trust’s stock valued at $608,000 after acquiring an additional 1,903 shares during the last quarter. Rhumbline Advisers grew its holdings in shares of CareTrust REIT by 26.9% in the fourth quarter. Rhumbline Advisers now owns 572,664 shares of the real estate investment trust’s stock valued at $15,491,000 after purchasing an additional 121,328 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of CareTrust REIT by 24.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,891,679 shares of the real estate investment trust’s stock valued at $78,220,000 after purchasing an additional 568,634 shares in the last quarter. 87.77% of the stock is owned by hedge funds and other institutional investors.

CareTrust REIT Stock Up 0.8%

Shares of NASDAQ CTRE opened at $29.59 on Wednesday. The company has a market cap of $5.67 billion, a P/E ratio of 37.46, a PEG ratio of 1.25 and a beta of 0.88. The firm has a 50-day simple moving average of $28.51 and a two-hundred day simple moving average of $27.96. CareTrust REIT, Inc. has a 1 year low of $24.35 and a 1 year 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.

CareTrust REIT Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were issued a dividend of $0.335 per share. The ex-dividend date of this dividend was Monday, March 31st. This represents a $1.34 dividend on an annualized basis and a yield of 4.53%. This is a boost from CareTrust REIT’s previous quarterly dividend of $0.29. CareTrust REIT’s payout ratio is presently 145.65%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on CTRE shares. Wells Fargo & Company dropped their price objective on shares of CareTrust REIT from $34.00 to $31.00 and set an “overweight” rating for the company in a research note on Monday, March 10th. Wedbush reissued an “underperform” rating and set a $26.00 price objective on shares of CareTrust REIT in a research note on Friday, March 14th. Royal Bank of Canada lowered their price objective on CareTrust REIT from $37.00 to $32.00 and set an “outperform” rating for the company in a research note on Friday, February 21st. Finally, Deutsche Bank Aktiengesellschaft raised CareTrust REIT from a “hold” rating to a “buy” rating and set a $31.00 target price on the stock in a research report on Thursday, March 13th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, CareTrust REIT currently has an average rating of “Moderate Buy” and a consensus target price of $31.00.

CareTrust REIT 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.