Pensionfund DSM Netherlands Takes Position in CareTrust REIT, Inc. $CTRE

Pensionfund DSM Netherlands bought a new stake in shares of CareTrust REIT, Inc. (NASDAQ:CTRE) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 44,000 shares of the real estate investment trust’s stock, valued at approximately $1,258,000.

Other institutional investors have also recently modified their holdings of the company. Fifth Third Bancorp grew its position in shares of CareTrust REIT by 217.5% during the 1st quarter. Fifth Third Bancorp now owns 1,978 shares of the real estate investment trust’s stock valued at $57,000 after acquiring an additional 1,355 shares during the period. Twin Tree Management LP acquired a new stake in shares of CareTrust REIT during the 1st quarter valued at about $58,000. Glen Eagle Advisors LLC acquired a new stake in shares of CareTrust REIT during the 4th quarter valued at about $56,000. GF Fund Management CO. LTD. acquired a new stake in shares of CareTrust REIT during the 4th quarter valued at about $76,000. Finally, Pandora Wealth Inc. acquired a new stake in shares of CareTrust REIT during the 1st quarter valued at about $120,000. 87.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on CTRE. Royal Bank Of Canada restated an “outperform” rating on shares of CareTrust REIT in a research report on Monday, August 11th. KeyCorp lifted their price objective on CareTrust REIT from $33.00 to $36.00 and gave the stock an “overweight” rating in a report on Thursday, August 14th. Wells Fargo & Company lifted their price objective on CareTrust REIT from $32.00 to $38.00 and gave the stock an “overweight” rating in a report on Wednesday, August 27th. Finally, Raymond James Financial set a $39.00 price objective on CareTrust REIT and gave the stock a “strong-buy” rating in a report on Tuesday, September 2nd. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, CareTrust REIT currently has a consensus rating of “Moderate Buy” and an average target price of $33.43.

CareTrust REIT Trading Up 0.1%

CTRE stock opened at $34.23 on Friday. The company has a current ratio of 3.82, a quick ratio of 3.82 and a debt-to-equity ratio of 0.14. CareTrust REIT, Inc. has a 12-month low of $24.79 and a 12-month high of $34.92. The stock has a market cap of $7.47 billion, a price-to-earnings ratio of 43.32, a PEG ratio of 1.25 and a beta of 0.84. The business’s 50-day moving average is $32.67 and its 200 day moving average is $29.98.

CareTrust REIT Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th were issued a dividend of $0.335 per share. This represents a $1.34 annualized dividend and a dividend yield of 3.9%. The ex-dividend date was Monday, June 30th. CareTrust REIT’s payout ratio is currently 111.67%.

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.