Louisiana State Employees Retirement System Boosts Stock Holdings in CareTrust REIT, Inc. (NASDAQ:CTRE)

Louisiana State Employees Retirement System lifted its holdings in shares of CareTrust REIT, Inc. (NASDAQ:CTRE) by 21.4% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 90,600 shares of the real estate investment trust’s stock after acquiring an additional 16,000 shares during the quarter. Louisiana State Employees Retirement System’s holdings in CareTrust REIT were worth $2,451,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of CTRE. JPMorgan Chase & Co. lifted its position in shares of CareTrust REIT by 381.2% during the third quarter. JPMorgan Chase & Co. now owns 6,878,379 shares of the real estate investment trust’s stock worth $212,267,000 after acquiring an additional 5,448,904 shares in the last quarter. Eagle Asset Management Inc. lifted its holdings in CareTrust REIT by 22.4% during the 3rd quarter. Eagle Asset Management Inc. now owns 428,699 shares of the real estate investment trust’s stock worth $13,264,000 after purchasing an additional 78,560 shares in the last quarter. Raymond James & Associates boosted its stake in CareTrust REIT by 10.6% in the 3rd quarter. Raymond James & Associates now owns 684,971 shares of the real estate investment trust’s stock worth $21,138,000 after purchasing an additional 65,756 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new position in CareTrust REIT during the 3rd quarter valued at about $7,475,000. Finally, Principal Financial Group Inc. increased its position in shares of CareTrust REIT by 5.2% during the third quarter. Principal Financial Group Inc. now owns 838,306 shares of the real estate investment trust’s stock valued at $25,870,000 after buying an additional 41,623 shares during the period. 87.77% of the stock is owned by institutional investors.

CareTrust REIT Trading Down 0.4 %

Shares of CareTrust REIT stock opened at $26.43 on Friday. The company has a 50 day simple moving average of $27.02 and a two-hundred day simple moving average of $28.91. The firm has a market cap of $4.53 billion, a PE ratio of 36.70, a PEG ratio of 1.24 and a beta of 1.09. CareTrust REIT, Inc. has a 1 year low of $22.42 and a 1 year high of $33.15. The company has a debt-to-equity ratio of 0.16, a current ratio of 7.60 and a quick ratio of 7.60.

CareTrust REIT (NASDAQ:CTRE) last announced its earnings results on Wednesday, February 12th. The real estate investment trust reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.12). CareTrust REIT had a return on equity of 5.32% and a net margin of 36.88%. During the same quarter in the previous year, the business earned $0.25 earnings per share. Analysts expect that CareTrust REIT, Inc. will post 1.5 earnings per share for the current fiscal year.

CareTrust REIT Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were issued a dividend of $0.29 per share. The ex-dividend date was Tuesday, December 31st. This represents a $1.16 dividend on an annualized basis and a dividend yield of 4.39%. CareTrust REIT’s dividend payout ratio is 146.84%.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Wedbush lowered shares of CareTrust REIT from a “neutral” rating to an “underperform” rating and cut their price objective for the company from $34.00 to $26.00 in a research report on Thursday, January 2nd. BMO Capital Markets downgraded shares of CareTrust REIT from an “outperform” rating to a “market perform” rating and cut their price target for the company from $34.00 to $32.00 in a report on Monday, December 9th. One analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, CareTrust REIT presently has an average rating of “Hold” and a consensus target price of $30.67.

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.