Teacher Retirement System of Texas Increases Holdings in CareTrust REIT, Inc. $CTRE

Teacher Retirement System of Texas boosted its position in CareTrust REIT, Inc. (NASDAQ:CTRE) by 27.8% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 119,849 shares of the real estate investment trust’s stock after buying an additional 26,080 shares during the period. Teacher Retirement System of Texas’ holdings in CareTrust REIT were worth $3,667,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Parallel Advisors LLC raised its position in 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 buying an additional 575 shares during the last quarter. Twin Tree Management LP acquired a new stake in shares of CareTrust REIT in the first quarter worth $58,000. Private Trust Co. NA raised its holdings in shares of CareTrust REIT by 1,328.3% during the second quarter. Private Trust Co. NA now owns 2,828 shares of the real estate investment trust’s stock worth $87,000 after purchasing an additional 2,630 shares during the last quarter. CWM LLC raised its holdings in shares of CareTrust REIT by 47.6% during the second quarter. CWM LLC now owns 2,955 shares of the real estate investment trust’s stock worth $90,000 after purchasing an additional 953 shares during the last quarter. Finally, GF Fund Management CO. LTD. lifted its position in CareTrust REIT by 26.6% during the first 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 period. Institutional investors and hedge funds own 87.77% of the company’s stock.

CareTrust REIT Trading Up 1.0%

CTRE stock opened at $34.71 on Friday. CareTrust REIT, Inc. has a 12-month low of $24.79 and a 12-month high of $35.81. The business’s 50-day moving average is $34.37 and its 200 day moving average is $31.68. The company has a current ratio of 3.82, a quick ratio of 3.82 and a debt-to-equity ratio of 0.14. The stock has a market cap of $7.57 billion, a price-to-earnings ratio of 43.93, a PEG ratio of 1.25 and a beta of 0.82.

CareTrust REIT Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th were given 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 Tuesday, September 30th. CareTrust REIT’s payout ratio is presently 111.67%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on CTRE shares. KeyCorp increased 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. Raymond James Financial set a $39.00 target price on CareTrust REIT and gave the stock a “strong-buy” rating in a report on Tuesday, September 2nd. Royal Bank Of Canada reiterated an “outperform” rating on shares of CareTrust REIT in a research report on Monday, August 11th. 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 raised their price objective on shares of CareTrust REIT from $32.00 to $38.00 and gave the stock 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 assigned a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average 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.