Erste Asset Management GmbH Raises Stock Position in CareTrust REIT, Inc. (NASDAQ:CTRE)

Erste Asset Management GmbH increased its position in shares of CareTrust REIT, Inc. (NASDAQ:CTRE) by 13.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 44,300 shares of the real estate investment trust’s stock after acquiring an additional 5,100 shares during the period. Erste Asset Management GmbH’s holdings in CareTrust REIT were worth $1,199,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Advantage Trust Co bought a new position in shares of CareTrust REIT in the fourth quarter worth $30,000. Versant Capital Management Inc grew its position in CareTrust REIT by 98.8% during the fourth quarter. Versant Capital Management Inc now owns 1,495 shares of the real estate investment trust’s stock worth $40,000 after buying an additional 743 shares in the last quarter. Blue Trust Inc. increased its stake in CareTrust REIT by 50.0% in the 4th quarter. Blue Trust Inc. now owns 1,808 shares of the real estate investment trust’s stock worth $49,000 after acquiring an additional 603 shares during the last quarter. Loomis Sayles & Co. L P raised 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 valued at $63,000 after acquiring an additional 1,990 shares in the last quarter. Finally, FSA Wealth Management LLC bought a new stake in shares of CareTrust REIT during the 3rd quarter valued at about $80,000. 87.77% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CTRE has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft upgraded shares of CareTrust REIT from a “hold” rating to a “buy” rating and set a $31.00 price objective on the stock in a research report on Thursday. Wells Fargo & Company lowered their price objective on shares of CareTrust REIT from $34.00 to $31.00 and set an “overweight” rating on the stock in a research report on Monday, March 10th. Royal Bank of Canada cut their target price on shares of CareTrust REIT from $37.00 to $32.00 and set an “outperform” rating for the company in a research report on Friday, February 21st. Wedbush restated an “underperform” rating and set a $26.00 price target on shares of CareTrust REIT in a research report on Friday. Finally, BMO Capital Markets cut CareTrust REIT from an “outperform” rating to a “market perform” rating and cut their price objective for the stock from $34.00 to $32.00 in a report on Monday, December 9th. One investment 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. Based on data from MarketBeat.com, CareTrust REIT presently has a consensus rating of “Moderate Buy” and an average target price of $31.00.

CareTrust REIT Stock Performance

CareTrust REIT stock opened at $28.35 on Friday. The firm has a fifty day simple moving average of $26.39 and a two-hundred day simple moving average of $28.68. The company has a quick ratio of 3.82, a current ratio of 3.82 and a debt-to-equity ratio of 0.14. CareTrust REIT, Inc. has a twelve month low of $23.26 and a twelve month high of $33.15. The company has a market capitalization of $5.32 billion, a PE ratio of 35.89, a P/E/G ratio of 1.25 and a beta of 1.11.

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

CareTrust REIT Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were issued a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 4.09%. The ex-dividend date of this dividend was Tuesday, December 31st. CareTrust REIT’s dividend payout ratio is 146.84%.

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.