New York State Common Retirement Fund Has $1.43 Million Stock Holdings in CareTrust REIT, Inc. (NASDAQ:CTRE)

New York State Common Retirement Fund boosted its holdings in shares of CareTrust REIT, Inc. (NASDAQ:CTRE) by 22.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 52,928 shares of the real estate investment trust’s stock after buying an additional 9,800 shares during the period. New York State Common Retirement Fund’s holdings in CareTrust REIT were worth $1,432,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the business. Wellington Management Group LLP increased its holdings in CareTrust REIT by 5.5% in the third quarter. Wellington Management Group LLP now owns 12,798,055 shares of the real estate investment trust’s stock worth $394,948,000 after buying an additional 670,348 shares during the last quarter. State Street Corp increased its stake in shares of CareTrust REIT by 6.7% during the 3rd quarter. State Street Corp now owns 8,323,360 shares of the real estate investment trust’s stock worth $259,255,000 after purchasing an additional 520,783 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of CareTrust REIT by 381.2% during the 3rd 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. FMR LLC raised its holdings in shares of CareTrust REIT by 209.9% during the 3rd quarter. FMR LLC now owns 5,224,896 shares of the real estate investment trust’s stock valued at $161,240,000 after purchasing an additional 3,538,798 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in shares of CareTrust REIT by 7.4% in the 3rd quarter. Geode Capital Management LLC now owns 3,732,609 shares of the real estate investment trust’s stock valued at $115,209,000 after purchasing an additional 258,271 shares during the last quarter. 87.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. BMO Capital Markets lowered shares of CareTrust REIT from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $34.00 to $32.00 in a research report on Monday, December 9th. Royal Bank of Canada cut their price objective on CareTrust REIT from $37.00 to $32.00 and set an “outperform” rating for the company in a research report on Friday, February 21st. Finally, Wedbush lowered CareTrust REIT from a “neutral” rating to an “underperform” rating and lowered their target price for the company from $34.00 to $26.00 in a report on Thursday, January 2nd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $30.83.

CareTrust REIT Stock Down 0.6 %

NASDAQ CTRE opened at $25.88 on Monday. The stock’s 50 day simple moving average is $26.53 and its 200 day simple moving average is $28.81. CareTrust REIT, Inc. has a one year low of $22.46 and a one year high of $33.15. The firm has a market cap of $4.86 billion, a PE ratio of 32.75, a price-to-earnings-growth ratio of 1.25 and a beta of 1.09. 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 (NASDAQ:CTRE) last announced its earnings results 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 last year, the business earned $0.25 EPS. As a group, sell-side analysts forecast that CareTrust REIT, Inc. will post 1.71 earnings per share for the current fiscal year.

CareTrust REIT Announces Dividend

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

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.