Charles Schwab Investment Management Inc. Buys 568,634 Shares of CareTrust REIT, Inc. (NASDAQ:CTRE)

Charles Schwab Investment Management Inc. increased its stake in shares of CareTrust REIT, Inc. (NASDAQ:CTRE) by 24.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,891,679 shares of the real estate investment trust’s stock after acquiring an additional 568,634 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 1.69% of CareTrust REIT worth $78,220,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of CTRE. JPMorgan Chase & Co. raised its holdings in 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 buying an additional 5,448,904 shares during the last quarter. FMR LLC raised its holdings in CareTrust REIT by 209.9% during the third quarter. FMR LLC now owns 5,224,896 shares of the real estate investment trust’s stock worth $161,240,000 after buying an additional 3,538,798 shares during the last quarter. Heitman Real Estate Securities LLC acquired a new position in CareTrust REIT during the third quarter worth $27,534,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in CareTrust REIT by 344.0% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 951,535 shares of the real estate investment trust’s stock worth $29,364,000 after buying an additional 737,236 shares during the last quarter. Finally, Wellington Management Group LLP raised its holdings in CareTrust REIT by 5.5% during the third quarter. Wellington Management Group LLP now owns 12,798,055 shares of the real estate investment trust’s stock worth $394,948,000 after buying an additional 670,348 shares during the last quarter. Institutional investors and hedge funds own 87.77% of the company’s stock.

CareTrust REIT Stock Performance

Shares of CTRE stock opened at $25.78 on Tuesday. CareTrust REIT, Inc. has a one year low of $23.26 and a one year high of $33.15. The firm has a 50-day moving average of $26.41 and a 200-day moving average of $28.74. 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 company has a market cap of $4.84 billion, a P/E ratio of 32.63, a P/E/G ratio of 1.25 and a beta of 1.11.

CareTrust REIT (NASDAQ:CTRE) last posted its quarterly earnings data on Wednesday, February 12th. The real estate investment trust reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.12). CareTrust REIT had a return on equity of 5.59% and a net margin of 42.22%. During the same quarter in the previous year, the company posted $0.25 EPS. Equities research analysts forecast that CareTrust REIT, Inc. will post 1.71 EPS for the current fiscal year.

CareTrust REIT Announces Dividend

The business 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 of this dividend was Tuesday, December 31st. This represents a $1.16 dividend on an annualized basis and a yield of 4.50%. CareTrust REIT’s dividend payout ratio (DPR) is presently 146.84%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on CTRE shares. Wedbush downgraded shares of CareTrust REIT from a “neutral” rating to an “underperform” rating and lowered their price objective for the stock from $34.00 to $26.00 in a report on Thursday, January 2nd. BMO Capital Markets downgraded shares of 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 report on Monday, December 9th. Wells Fargo & Company lowered their target price on shares of CareTrust REIT from $34.00 to $31.00 and set an “overweight” rating for the company in a report on Monday. Finally, Royal Bank of Canada lowered their target price on shares of CareTrust REIT from $37.00 to $32.00 and set an “outperform” rating for the company in a report on Friday, February 21st. 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, CareTrust REIT currently has an average rating of “Hold” and an average target price of $30.33.

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.