Employees Retirement System of Texas Acquires Shares of 151,911 CareTrust REIT, Inc. $CTRE

Employees Retirement System of Texas acquired a new stake in shares of CareTrust REIT, Inc. (NASDAQ:CTRE) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 151,911 shares of the real estate investment trust’s stock, valued at approximately $4,648,000. Employees Retirement System of Texas owned 0.08% of CareTrust REIT as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in CareTrust REIT by 4.9% during the 1st quarter. Vanguard Group Inc. now owns 28,636,981 shares of the real estate investment trust’s stock valued at $818,445,000 after buying an additional 1,336,348 shares during the period. Geode Capital Management LLC raised its stake in shares of CareTrust REIT by 1.7% during the second quarter. Geode Capital Management LLC now owns 5,003,751 shares of the real estate investment trust’s stock valued at $153,132,000 after acquiring an additional 84,904 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of CareTrust REIT by 4.6% during the second quarter. Charles Schwab Investment Management Inc. now owns 3,095,764 shares of the real estate investment trust’s stock valued at $94,730,000 after acquiring an additional 135,392 shares during the last quarter. Northern Trust Corp boosted its holdings in shares of CareTrust REIT by 5.6% during the first quarter. Northern Trust Corp now owns 2,606,842 shares of the real estate investment trust’s stock worth $74,504,000 after purchasing an additional 137,202 shares during the period. Finally, Bank of New York Mellon Corp grew its stake in shares of CareTrust REIT by 2.7% in the second quarter. Bank of New York Mellon Corp now owns 2,439,849 shares of the real estate investment trust’s stock worth $74,659,000 after purchasing an additional 64,986 shares during the last quarter. 87.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have commented on CTRE. Royal Bank Of Canada upped their price target on 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. Wells Fargo & Company raised their price target on CareTrust REIT from $38.00 to $41.00 and gave the stock an “overweight” rating in a research note on Tuesday. Cantor Fitzgerald started coverage on shares of CareTrust REIT in a research note on Wednesday, October 1st. They set a “neutral” rating and a $37.00 target price on the stock. Finally, UBS Group began coverage on shares of CareTrust REIT in a report on Tuesday, November 18th. They issued a “buy” rating and a $42.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, CareTrust REIT has a consensus rating of “Moderate Buy” and a consensus target price of $36.11.

CareTrust REIT Stock Performance

Shares of CTRE stock opened at $37.54 on Thursday. The company’s fifty day moving average price is $35.13 and its 200-day moving average price is $32.64. The stock has a market cap of $8.38 billion, a PE ratio of 47.51, a price-to-earnings-growth ratio of 1.25 and a beta of 0.81. 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 $37.90.

CareTrust REIT Dividend Announcement

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

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.