Ameritas Advisory Services LLC increased its stake in shares of CareTrust REIT, Inc. (NASDAQ:CTRE – Free Report) by 11.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,111 shares of the real estate investment trust’s stock after purchasing an additional 1,415 shares during the quarter. Ameritas Advisory Services LLC’s holdings in CareTrust REIT were worth $382,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently made changes to their positions in CTRE. Newbridge Financial Services Group Inc. bought a new position in shares of CareTrust REIT during the second quarter valued at about $27,000. Blue Trust Inc. lifted its position 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 valued at $37,000 after purchasing an additional 772 shares during the last quarter. Versant Capital Management Inc raised its holdings 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 valued at $40,000 after buying an additional 743 shares in the last quarter. Loomis Sayles & Co. L P grew its stake in shares of CareTrust REIT by 5,527.8% during the third quarter. Loomis Sayles & Co. L P now owns 2,026 shares of the real estate investment trust’s stock valued at $63,000 after buying an additional 1,990 shares during the last quarter. Finally, Signaturefd LLC raised its holdings 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 valued at $67,000 after buying an additional 775 shares during the last quarter. 87.77% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
CTRE has been the subject of a number of research analyst reports. Wells Fargo & Company upgraded CareTrust REIT from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $28.00 to $34.00 in a research note on Tuesday, October 1st. Wedbush downgraded CareTrust REIT from a “neutral” rating to an “underperform” rating and lowered their target price for the company from $34.00 to $26.00 in a research report on Thursday, January 2nd. BMO Capital Markets downgraded CareTrust REIT from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $34.00 to $32.00 in a research note on Monday, December 9th. Finally, KeyCorp lifted their price objective on shares of CareTrust REIT from $27.00 to $34.00 and gave the stock an “overweight” rating in a research note on Monday, October 7th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, CareTrust REIT presently has an average rating of “Hold” and an average target price of $30.67.
CareTrust REIT Stock Up 1.0 %
NASDAQ:CTRE opened at $26.72 on Friday. The stock has a market capitalization of $4.58 billion, a price-to-earnings ratio of 37.12, a price-to-earnings-growth ratio of 1.28 and a beta of 1.09. CareTrust REIT, Inc. has a 52 week low of $20.10 and a 52 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. The stock’s fifty day moving average is $28.20 and its two-hundred day moving average is $28.92.
CareTrust REIT (NASDAQ:CTRE – Get Free Report) last posted its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.21 EPS for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.08). CareTrust REIT had a return on equity of 5.32% and a net margin of 36.88%. The firm had revenue of $77.38 million for the quarter, compared to analyst estimates of $74.12 million. During the same quarter last year, the firm posted $0.35 EPS. Research analysts anticipate that CareTrust REIT, Inc. will post 1.5 EPS for the current year.
CareTrust REIT Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were paid a $0.29 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $1.16 annualized dividend and a yield of 4.34%. 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.
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