CareTrust REIT, Inc. (NASDAQ:CTRE) Shares Bought by Swiss National Bank

Swiss National Bank boosted its holdings in shares of CareTrust REIT, Inc. (NASDAQ:CTRE) by 19.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 362,949 shares of the real estate investment trust’s stock after buying an additional 59,600 shares during the period. Swiss National Bank owned approximately 0.19% of CareTrust REIT worth $10,373,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Wells Fargo & Company MN increased its holdings in shares of CareTrust REIT by 20.5% in the fourth quarter. Wells Fargo & Company MN now owns 283,387 shares of the real estate investment trust’s stock valued at $7,666,000 after purchasing an additional 48,139 shares during the period. Sterling Capital Management LLC increased its holdings in shares of CareTrust REIT by 4,585.3% in the fourth quarter. Sterling Capital Management LLC now owns 21,740 shares of the real estate investment trust’s stock valued at $588,000 after purchasing an additional 21,276 shares during the period. Summit Investment Advisors Inc. increased its holdings in shares of CareTrust REIT by 34.4% in the fourth quarter. Summit Investment Advisors Inc. now owns 19,426 shares of the real estate investment trust’s stock valued at $525,000 after purchasing an additional 4,974 shares during the period. Barclays PLC increased its holdings in shares of CareTrust REIT by 60.3% in the fourth quarter. Barclays PLC now owns 416,459 shares of the real estate investment trust’s stock valued at $11,265,000 after purchasing an additional 156,639 shares during the period. Finally, Mariner LLC increased its holdings in shares of CareTrust REIT by 12.9% in the fourth quarter. Mariner LLC now owns 10,924 shares of the real estate investment trust’s stock valued at $295,000 after purchasing an additional 1,250 shares during the period. 87.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CTRE has been the topic of a number of research reports. Wells Fargo & Company increased their price objective on CareTrust REIT from $31.00 to $32.00 and gave the company an “overweight” rating in a report on Monday, June 2nd. KeyCorp increased their price objective on CareTrust REIT from $33.00 to $36.00 and gave the company an “overweight” rating in a report on Thursday. Finally, Royal Bank Of Canada reissued an “outperform” rating on shares of CareTrust REIT in a report on Monday. One research analyst has rated the stock with a sell rating, one has assigned 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 an average price target of $31.50.

CareTrust REIT Stock Up 0.4%

CareTrust REIT stock opened at $33.85 on Friday. The firm has a market cap of $6.78 billion, a price-to-earnings ratio of 42.85, a price-to-earnings-growth ratio of 1.25 and a beta of 0.85. CareTrust REIT, Inc. has a 52 week low of $24.79 and a 52 week high of $34.00. The business’s 50-day moving average price is $30.97 and its 200 day moving average price is $28.86. 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 business also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 30th were issued a dividend of $0.335 per share. This represents a $1.34 annualized dividend and a yield of 4.0%. The ex-dividend date of this dividend was Monday, June 30th. CareTrust REIT’s dividend payout ratio (DPR) is 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.