Charles Schwab Investment Management Inc. Raises Stake in CareTrust REIT, Inc. (NASDAQ:CTRE)

Charles Schwab Investment Management Inc. increased its stake in shares of CareTrust REIT, Inc. (NASDAQ:CTRE) by 2.4% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 2,960,372 shares of the real estate investment trust’s stock after purchasing an additional 68,693 shares during the period. Charles Schwab Investment Management Inc. owned 1.54% of CareTrust REIT worth $84,607,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in CTRE. Wells Fargo & Company MN raised its holdings in shares of CareTrust REIT by 20.5% in the 4th quarter. Wells Fargo & Company MN now owns 283,387 shares of the real estate investment trust’s stock valued at $7,666,000 after acquiring an additional 48,139 shares in the last quarter. Invesco Ltd. raised its holdings in shares of CareTrust REIT by 26.7% in the 4th quarter. Invesco Ltd. now owns 1,275,644 shares of the real estate investment trust’s stock valued at $34,506,000 after acquiring an additional 268,971 shares in the last quarter. Capital Fund Management S.A. purchased a new stake in shares of CareTrust REIT in the 4th quarter valued at about $1,594,000. Sterling Capital Management LLC raised its holdings in shares of CareTrust REIT by 4,585.3% in the 4th quarter. Sterling Capital Management LLC now owns 21,740 shares of the real estate investment trust’s stock valued at $588,000 after acquiring an additional 21,276 shares in the last quarter. Finally, Summit Investment Advisors Inc. raised its holdings in shares of CareTrust REIT by 34.4% in the 4th quarter. Summit Investment Advisors Inc. now owns 19,426 shares of the real estate investment trust’s stock valued at $525,000 after acquiring an additional 4,974 shares in the last quarter. Hedge funds and other institutional investors own 87.77% of the company’s stock.

CareTrust REIT Price Performance

Shares of CareTrust REIT stock opened at $33.08 on Thursday. 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 market capitalization of $6.63 billion, a PE ratio of 41.87, a price-to-earnings-growth ratio of 1.25 and a beta of 0.85. The business’s 50-day moving average price is $30.78 and its 200-day moving average price is $28.78. CareTrust REIT, Inc. has a 12 month low of $24.79 and a 12 month high of $33.52.

CareTrust REIT Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th were given a dividend of $0.335 per share. The ex-dividend date was Monday, June 30th. This represents a $1.34 annualized dividend and a dividend yield of 4.1%. CareTrust REIT’s dividend payout ratio is 111.67%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on CTRE. Wells Fargo & Company raised their price target on CareTrust REIT from $31.00 to $32.00 and gave the company an “overweight” rating in a report on Monday, June 2nd. Royal Bank Of Canada reiterated an “outperform” rating on shares of CareTrust REIT in a research report on Monday. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $31.17.

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.