CareTrust REIT, Inc. (NASDAQ:CTRE) Stake Lifted by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of CareTrust REIT, Inc. (NASDAQ:CTRE) by 5.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 99,896 shares of the real estate investment trust’s stock after purchasing an additional 5,139 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned 0.05% of CareTrust REIT worth $2,855,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the company. FMR LLC raised its position 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 period. Raymond James Financial Inc. acquired a new position in shares of CareTrust REIT in the 4th quarter valued at $49,048,000. Balyasny Asset Management L.P. increased its stake in CareTrust REIT by 149.6% in the 4th quarter. Balyasny Asset Management L.P. now owns 2,708,664 shares of the real estate investment trust’s stock worth $73,269,000 after purchasing an additional 1,623,297 shares in the last quarter. Norges Bank acquired a new stake in CareTrust REIT during the 4th quarter worth about $33,180,000. Finally, Nuveen Asset Management LLC lifted its stake in CareTrust REIT by 75.8% during the fourth quarter. Nuveen Asset Management LLC now owns 2,395,809 shares of the real estate investment trust’s stock valued at $64,807,000 after buying an additional 1,032,848 shares in the last quarter. 87.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Wells Fargo & Company upped their price target on shares of CareTrust REIT from $31.00 to $32.00 and gave the company an “overweight” rating in a research report on Monday, June 2nd. One analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $31.17.

CareTrust REIT Trading Up 0.7%

CTRE opened at $32.01 on Friday. CareTrust REIT, Inc. has a 1-year low of $24.79 and a 1-year high of $33.15. The stock has a market capitalization of $6.14 billion, a PE ratio of 40.52, a PEG ratio of 1.25 and a beta of 0.84. The company has a current ratio of 3.82, a quick ratio of 3.82 and a debt-to-equity ratio of 0.14. The firm has a 50-day moving average price of $30.13 and a two-hundred day moving average price of $28.44.

CareTrust REIT Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th were paid a $0.335 dividend. The ex-dividend date of this dividend was Monday, June 30th. This represents a $1.34 dividend on an annualized basis and a dividend yield of 4.2%. CareTrust REIT’s dividend payout ratio is 145.65%.

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.