CareTrust REIT, Inc. $CTRE Shares Acquired by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. increased its position in shares of CareTrust REIT, Inc. (NASDAQ:CTRE) by 4.6% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 3,095,764 shares of the real estate investment trust’s stock after purchasing an additional 135,392 shares during the quarter. Charles Schwab Investment Management Inc. owned 1.55% of CareTrust REIT worth $94,730,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. D.A. Davidson & CO. increased its position in shares of CareTrust REIT by 0.8% in the second quarter. D.A. Davidson & CO. now owns 39,849 shares of the real estate investment trust’s stock valued at $1,219,000 after buying an additional 327 shares in the last quarter. Norinchukin Bank The boosted its position in shares of CareTrust REIT by 4.6% in the 1st quarter. Norinchukin Bank The now owns 8,662 shares of the real estate investment trust’s stock worth $248,000 after buying an additional 382 shares in the last quarter. J. W. Coons Advisors LLC grew its stake in CareTrust REIT by 4.8% in the 2nd quarter. J. W. Coons Advisors LLC now owns 9,298 shares of the real estate investment trust’s stock valued at $285,000 after acquiring an additional 422 shares during the last quarter. Smartleaf Asset Management LLC increased its holdings in CareTrust REIT by 10.4% during the 1st quarter. Smartleaf Asset Management LLC now owns 5,555 shares of the real estate investment trust’s stock valued at $161,000 after acquiring an additional 523 shares in the last quarter. Finally, Moody National Bank Trust Division raised its position in CareTrust REIT by 2.1% during the second quarter. Moody National Bank Trust Division now owns 26,483 shares of the real estate investment trust’s stock worth $810,000 after acquiring an additional 548 shares during the last quarter. 87.77% of the stock is currently owned by hedge funds and other institutional investors.

CareTrust REIT Stock Performance

NASDAQ CTRE opened at $37.30 on Friday. The firm has a market capitalization of $8.33 billion, a P/E ratio of 47.22, a P/E/G ratio of 1.25 and a beta of 0.81. CareTrust REIT, Inc. has a 1-year low of $24.79 and a 1-year high of $37.90. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.82 and a quick ratio of 3.82. The business’s 50-day simple moving average is $35.24 and its 200-day simple moving average is $32.73.

CareTrust REIT Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th were given a dividend of $0.335 per share. This represents a $1.34 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date of this dividend was Tuesday, September 30th. CareTrust REIT’s payout ratio is 100.00%.

Analysts Set New Price Targets

Several analysts have recently commented on CTRE shares. Royal Bank Of Canada increased their price target on shares of CareTrust REIT from $36.00 to $41.00 and gave the company an “outperform” rating in a research report on Monday, November 10th. Raymond James Financial set a $39.00 target price on CareTrust REIT and gave the company a “strong-buy” rating in a report on Tuesday, September 2nd. KeyCorp raised their price target on CareTrust REIT from $33.00 to $36.00 and gave the stock an “overweight” rating in a research report on Thursday, August 14th. Cantor Fitzgerald began coverage on CareTrust REIT in a research report on Wednesday, October 1st. They issued a “neutral” rating and a $37.00 price objective on the stock. Finally, Wells Fargo & Company increased their price objective on CareTrust REIT from $38.00 to $41.00 and gave the company an “overweight” rating in a research note on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $36.11.

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.