Texas Permanent School Fund Corp Has $10.16 Million Holdings in CareTrust REIT, Inc. $CTRE

by · The Markets Daily

Texas Permanent School Fund Corp grew its holdings in CareTrust REIT, Inc. (NASDAQ:CTRE – Free Report) by 23.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 332,039 shares of the real estate investment trust’s stock after buying an additional 62,450 shares during the period. Texas Permanent School Fund Corp owned 0.15% of CareTrust REIT worth $10,160,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Invesco Ltd. raised its stake in CareTrust REIT by 201.8% in the 2nd quarter. Invesco Ltd. now owns 3,772,350 shares of the real estate investment trust’s stock valued at $115,434,000 after acquiring an additional 2,522,260 shares during the period. Daiwa Securities Group Inc. boosted its position in CareTrust REIT by 2,245.5% during the second quarter. Daiwa Securities Group Inc. now owns 1,510,264 shares of the real estate investment trust’s stock worth $46,214,000 after purchasing an additional 1,445,873 shares during the period. Adage Capital Partners GP L.L.C. acquired a new position in shares of CareTrust REIT in the second quarter valued at $22,491,000. Alyeska Investment Group L.P. raised its position in shares of CareTrust REIT by 51.3% in the first quarter. Alyeska Investment Group L.P. now owns 2,094,848 shares of the real estate investment trust’s stock valued at $59,871,000 after purchasing an additional 710,006 shares during the period. Finally, Bank of America Corp DE raised its position in shares of CareTrust REIT by 96.3% in the second quarter. Bank of America Corp DE now owns 896,561 shares of the real estate investment trust’s stock valued at $27,435,000 after purchasing an additional 439,883 shares during the period. 87.77% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on CTRE shares. Raymond James Financial set a $39.00 price target on shares of CareTrust REIT and gave the company a “strong-buy” rating in a research note on Tuesday, September 2nd. KeyCorp raised their price objective on shares of CareTrust REIT from $36.00 to $40.00 and gave the stock an “overweight” rating in a research report on Thursday, December 4th. Royal Bank Of Canada upped their target price on CareTrust REIT from $36.00 to $41.00 and gave the company an “outperform” rating in a research report on Monday, November 10th. UBS Group assumed coverage on CareTrust REIT in a research note on Tuesday, November 18th. They set a “buy” rating and a $42.00 target price on the stock. Finally, Jefferies Financial Group restated a “buy” rating and issued a $43.00 price target on shares of CareTrust REIT in a research note on Monday. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, CareTrust REIT has a consensus rating of “Moderate Buy” and a consensus target price of $37.78.

Read Our Latest Stock Report on CareTrust REIT

CareTrust REIT Stock Performance

NASDAQ CTRE opened at $36.60 on Tuesday. The firm has a 50-day moving average price of $35.78 and a two-hundred day moving average price of $33.44. CareTrust REIT, Inc. has a 12-month low of $24.79 and a 12-month high of $38.32. The company has a market capitalization of $8.17 billion, a P/E ratio of 46.32, a P/E/G ratio of 1.25 and a beta of 0.77. The company has a quick ratio of 3.82, a current ratio of 3.82 and a debt-to-equity ratio of 0.14.

About CareTrust REIT

(Free Report)

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.

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