Sumitomo Mitsui Trust Group Inc. Purchases 4,165 Shares of CareTrust REIT, Inc. $CTRE

Sumitomo Mitsui Trust Group Inc. lifted its position in shares of CareTrust REIT, Inc. (NASDAQ:CTRE) by 2.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 208,979 shares of the real estate investment trust’s stock after acquiring an additional 4,165 shares during the period. Sumitomo Mitsui Trust Group Inc. owned approximately 0.11% of CareTrust REIT worth $6,395,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in CTRE. Parallel Advisors LLC lifted its holdings in shares of CareTrust REIT by 109.5% during the 2nd quarter. Parallel Advisors LLC now owns 1,100 shares of the real estate investment trust’s stock worth $34,000 after acquiring an additional 575 shares during the period. Twin Tree Management LP bought a new stake in shares of CareTrust REIT during the 1st quarter worth approximately $58,000. Private Trust Co. NA lifted its holdings in shares of CareTrust REIT by 1,328.3% during the 2nd quarter. Private Trust Co. NA now owns 2,828 shares of the real estate investment trust’s stock worth $87,000 after acquiring an additional 2,630 shares during the period. CWM LLC lifted its holdings in shares of CareTrust REIT by 47.6% during the 2nd quarter. CWM LLC now owns 2,955 shares of the real estate investment trust’s stock worth $90,000 after acquiring an additional 953 shares during the period. Finally, GF Fund Management CO. LTD. lifted its stake in CareTrust REIT by 26.6% in the 1st quarter. GF Fund Management CO. LTD. now owns 3,548 shares of the real estate investment trust’s stock valued at $101,000 after purchasing an additional 746 shares during the last quarter. Institutional investors own 87.77% of the company’s stock.

CareTrust REIT Price Performance

CTRE stock opened at $33.87 on Thursday. The company has a fifty day moving average price of $34.37 and a 200-day moving average price of $31.60. The company has a market capitalization of $7.39 billion, a P/E ratio of 42.88, a PEG ratio of 1.25 and a beta of 0.82. CareTrust REIT, Inc. has a 52-week low of $24.79 and a 52-week high of $35.81. The company has a debt-to-equity ratio of 0.14, a quick ratio of 3.82 and a current ratio of 3.82.

CareTrust REIT Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th were paid a dividend of $0.335 per share. The ex-dividend date of this dividend was Tuesday, September 30th. This represents a $1.34 annualized dividend and a dividend yield of 4.0%. CareTrust REIT’s dividend payout ratio (DPR) is presently 111.67%.

Wall Street Analyst Weigh In

CTRE has been the subject of several research reports. Cantor Fitzgerald initiated coverage on shares of CareTrust REIT in a research note on Wednesday, October 1st. They issued a “neutral” rating and a $37.00 price objective for the company. Raymond James Financial set a $39.00 price objective on shares of CareTrust REIT and gave the company a “strong-buy” rating in a research note on Tuesday, September 2nd. KeyCorp increased their price objective on shares of CareTrust REIT from $33.00 to $36.00 and gave the company an “overweight” rating in a research note on Thursday, August 14th. Royal Bank Of Canada reissued an “outperform” rating on shares of CareTrust REIT in a research note on Monday, August 11th. Finally, Wells Fargo & Company increased their price objective on shares of CareTrust REIT from $32.00 to $38.00 and gave the company an “overweight” rating in a research note on Wednesday, August 27th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $33.88.

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.