Robeco Institutional Asset Management B.V. Buys Shares of 11,094 CareTrust REIT, Inc. (NASDAQ:CTRE)

Robeco Institutional Asset Management B.V. bought a new position in shares of CareTrust REIT, Inc. (NASDAQ:CTRE) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 11,094 shares of the real estate investment trust’s stock, valued at approximately $300,000.

A number of other large investors also recently modified their holdings of the business. Blue Trust Inc. raised its stake in CareTrust REIT by 178.3% during the third quarter. Blue Trust Inc. now owns 1,205 shares of the real estate investment trust’s stock worth $37,000 after acquiring an additional 772 shares during the period. Versant Capital Management Inc raised its position in shares of CareTrust REIT by 98.8% during the 4th 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 period. Loomis Sayles & Co. L P lifted its holdings in shares of CareTrust REIT by 5,527.8% in the 3rd quarter. Loomis Sayles & Co. L P now owns 2,026 shares of the real estate investment trust’s stock worth $63,000 after purchasing an additional 1,990 shares during the last quarter. Signaturefd LLC grew its stake in CareTrust REIT by 55.0% during the 3rd quarter. Signaturefd LLC now owns 2,185 shares of the real estate investment trust’s stock worth $67,000 after buying an additional 775 shares during the last quarter. Finally, FSA Wealth Management LLC acquired a new stake in CareTrust REIT in the third quarter worth $80,000. 87.77% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

CareTrust REIT Price Performance

Shares of NASDAQ CTRE opened at $26.36 on Wednesday. The stock has a market cap of $4.52 billion, a P/E ratio of 36.61, a P/E/G ratio of 1.25 and a beta of 1.09. The firm’s 50-day simple moving average is $27.55 and its 200 day simple moving average is $28.97. CareTrust REIT, Inc. has a fifty-two week low of $20.10 and a fifty-two week high of $33.15. The company has a quick ratio of 7.60, a current ratio of 7.60 and a debt-to-equity ratio of 0.16.

CareTrust REIT Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were paid a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 4.40%. The ex-dividend date of this dividend was Tuesday, December 31st. CareTrust REIT’s payout ratio is currently 161.11%.

About CareTrust REIT

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.