Advantage Trust Co Acquires New Holdings in CareTrust REIT, Inc. (NASDAQ:CTRE)

Advantage Trust Co bought a new position in shares of CareTrust REIT, Inc. (NASDAQ:CTRE) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 1,100 shares of the real estate investment trust’s stock, valued at approximately $30,000.

Several other institutional investors also recently modified their holdings of CTRE. Blue Trust Inc. raised its stake in shares of 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 acquiring an additional 772 shares during the last quarter. Versant Capital Management Inc boosted its position 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 purchasing an additional 743 shares in the last quarter. Loomis Sayles & Co. L P grew its stake in 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 worth $63,000 after purchasing an additional 1,990 shares during the period. Signaturefd LLC lifted its stake in CareTrust REIT by 55.0% in the third 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 period. Finally, FSA Wealth Management LLC acquired a new stake in shares of CareTrust REIT during the 3rd quarter worth approximately $80,000. 87.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have issued reports on CTRE. BMO Capital Markets lowered CareTrust REIT from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $34.00 to $32.00 in a report on Monday, December 9th. Wedbush lowered shares of CareTrust REIT from a “neutral” rating to an “underperform” rating and decreased their price target for the company from $34.00 to $26.00 in a research note on Thursday, January 2nd. 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 on the stock in a report on Friday. One equities 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 company’s stock. According to MarketBeat.com, CareTrust REIT currently has an average rating of “Hold” and an average target price of $30.83.

CareTrust REIT Price Performance

Shares of NASDAQ CTRE opened at $24.90 on Friday. The company has a market capitalization of $4.67 billion, a PE ratio of 31.51, a PEG ratio of 1.26 and a beta of 1.09. The company has a quick ratio of 3.82, a current ratio of 3.82 and a debt-to-equity ratio of 0.14. The stock’s 50 day moving average price is $26.73 and its 200-day moving average price is $28.86. CareTrust REIT, Inc. has a twelve month low of $22.46 and a twelve month high of $33.15.

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 for the quarter, missing the consensus estimate 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 period in the previous year, the firm posted $0.25 earnings per share. On average, equities analysts anticipate that CareTrust REIT, Inc. will post 1.71 EPS for the current year.

CareTrust REIT Dividend Announcement

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 4.66%. CareTrust REIT’s dividend payout ratio (DPR) is presently 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.