Nuveen Asset Management LLC Has $64.81 Million Position in CareTrust REIT, Inc. (NASDAQ:CTRE)

Nuveen Asset Management LLC boosted its position in CareTrust REIT, Inc. (NASDAQ:CTRE) by 75.8% in the fourth quarter, Holdings Channel.com reports. The firm owned 2,395,809 shares of the real estate investment trust’s stock after purchasing an additional 1,032,848 shares during the quarter. Nuveen Asset Management LLC’s holdings in CareTrust REIT were worth $64,807,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. grew its position in shares of CareTrust REIT by 18.5% in the 4th quarter. Vanguard Group Inc. now owns 27,300,633 shares of the real estate investment trust’s stock valued at $738,482,000 after buying an additional 4,263,097 shares during the last quarter. FMR LLC grew its position in shares of CareTrust REIT by 51.8% in the 4th quarter. FMR LLC now owns 7,932,946 shares of the real estate investment trust’s stock valued at $214,586,000 after buying an additional 2,708,050 shares during the last quarter. JPMorgan Chase & Co. grew its position in shares of CareTrust REIT by 381.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 6,878,379 shares of the real estate investment trust’s stock valued at $212,267,000 after buying an additional 5,448,904 shares during the last quarter. Geode Capital Management LLC grew its position in shares of CareTrust REIT by 23.8% in the 4th quarter. Geode Capital Management LLC now owns 4,620,274 shares of the real estate investment trust’s stock valued at $125,006,000 after buying an additional 887,665 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of CareTrust REIT by 24.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,891,679 shares of the real estate investment trust’s stock valued at $78,220,000 after buying an additional 568,634 shares during the last quarter. Institutional investors and hedge funds own 87.77% of the company’s stock.

CareTrust REIT Stock Up 1.8%

CTRE stock opened at $29.17 on Monday. The stock’s 50 day simple moving average is $28.42 and its 200 day simple moving average is $27.96. CareTrust REIT, Inc. has a fifty-two week low of $24.35 and a fifty-two week high of $33.15. The company has a debt-to-equity ratio of 0.14, a quick ratio of 3.82 and a current ratio of 3.82. The company has a market cap of $5.59 billion, a P/E ratio of 36.92, a price-to-earnings-growth ratio of 1.25 and a beta of 0.88.

CareTrust REIT Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were paid a dividend of $0.335 per share. This is an increase from CareTrust REIT’s previous quarterly dividend of $0.29. This represents a $1.34 dividend on an annualized basis and a yield of 4.59%. The ex-dividend date of this dividend was Monday, March 31st. CareTrust REIT’s dividend payout ratio is 145.65%.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Royal Bank of Canada cut their target price on CareTrust REIT from $37.00 to $32.00 and set an “outperform” rating on the stock in a research report on Friday, February 21st. Wells Fargo & Company cut their target price on CareTrust REIT from $34.00 to $31.00 and set an “overweight” rating on the stock in a research report on Monday, March 10th. Deutsche Bank Aktiengesellschaft upgraded CareTrust REIT from a “hold” rating to a “buy” rating and set a $31.00 target price on the stock in a research report on Thursday, March 13th. Finally, Wedbush reaffirmed an “underperform” rating and set a $26.00 price target on shares of CareTrust REIT in a research note on Friday, March 14th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $31.00.

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.