Nomura Asset Management Co. Ltd. Raises Stock Holdings in CareTrust REIT, Inc. (NASDAQ:CTRE)

Nomura Asset Management Co. Ltd. increased its stake in CareTrust REIT, Inc. (NASDAQ:CTRE) by 18.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 246,800 shares of the real estate investment trust’s stock after purchasing an additional 38,000 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in CareTrust REIT were worth $6,676,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Advantage Trust Co bought a new position in shares of CareTrust REIT in the 4th quarter worth $30,000. Versant Capital Management Inc lifted its stake in CareTrust REIT by 98.8% during the fourth quarter. Versant Capital Management Inc now owns 1,495 shares of the real estate investment trust’s stock worth $40,000 after purchasing an additional 743 shares during the last quarter. Blue Trust Inc. lifted its stake in CareTrust REIT by 50.0% during the fourth quarter. Blue Trust Inc. now owns 1,808 shares of the real estate investment trust’s stock worth $49,000 after purchasing an additional 603 shares during the last quarter. Signaturefd LLC increased its position in shares of CareTrust REIT by 20.3% during the 4th quarter. Signaturefd LLC now owns 2,628 shares of the real estate investment trust’s stock valued at $71,000 after purchasing an additional 443 shares during the last quarter. Finally, FSA Wealth Management LLC purchased a new position in shares of CareTrust REIT during the 3rd quarter valued at about $80,000. 87.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CTRE has been the subject of several research reports. Deutsche Bank Aktiengesellschaft raised CareTrust REIT from a “hold” rating to a “buy” rating and set a $31.00 target price for the company in a research note on Thursday, March 13th. Wells Fargo & Company reduced their target price on shares of CareTrust REIT from $34.00 to $31.00 and set an “overweight” rating on the stock in a report on Monday, March 10th. Royal Bank of Canada lowered their price target on shares of CareTrust REIT from $37.00 to $32.00 and set an “outperform” rating for the company in a research note on Friday, February 21st. Wedbush reaffirmed an “underperform” rating and set a $26.00 price objective on shares of CareTrust REIT in a research note on Friday, March 14th. Finally, BMO Capital Markets lowered CareTrust REIT from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $34.00 to $32.00 in a research note on Monday, December 9th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $31.00.

CareTrust REIT Stock Down 1.3 %

NASDAQ CTRE opened at $28.60 on Tuesday. CareTrust REIT, Inc. has a 1 year low of $23.26 and a 1 year high of $33.15. The stock has a market capitalization of $5.37 billion, a PE ratio of 36.20, a PEG ratio of 1.25 and a beta of 1.11. 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 moving average is $26.90 and its 200 day moving average is $28.57.

CareTrust REIT (NASDAQ:CTRE) last posted 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 net margin of 42.22% and a return on equity of 5.59%. During the same period in the previous year, the firm earned $0.25 EPS. Sell-side analysts forecast that CareTrust REIT, Inc. will post 1.71 earnings per share for the current year.

CareTrust REIT Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be given a $0.335 dividend. This represents a $1.34 annualized dividend and a dividend yield of 4.69%. This is a boost from CareTrust REIT’s previous quarterly dividend of $0.29. The ex-dividend date is Monday, March 31st. CareTrust REIT’s dividend payout ratio (DPR) is currently 169.62%.

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.