Nicola Wealth Management LTD. Sells 5,800 Shares of CareTrust REIT, Inc. (NASDAQ:CTRE)

Nicola Wealth Management LTD. trimmed its position in CareTrust REIT, Inc. (NASDAQ:CTRE) by 19.1% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 24,505 shares of the real estate investment trust’s stock after selling 5,800 shares during the period. Nicola Wealth Management LTD.’s holdings in CareTrust REIT were worth $663,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. increased its position in CareTrust REIT by 381.2% during the third quarter. JPMorgan Chase & Co. now owns 6,878,379 shares of the real estate investment trust’s stock worth $212,267,000 after acquiring an additional 5,448,904 shares during the period. FMR LLC grew its position in shares of CareTrust REIT by 209.9% during the 3rd quarter. FMR LLC now owns 5,224,896 shares of the real estate investment trust’s stock worth $161,240,000 after purchasing an additional 3,538,798 shares in the last quarter. Heitman Real Estate Securities LLC bought a new position in shares of CareTrust REIT during the third quarter worth approximately $27,534,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of CareTrust REIT by 344.0% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 951,535 shares of the real estate investment trust’s stock valued at $29,364,000 after buying an additional 737,236 shares in the last quarter. Finally, Wellington Management Group LLP boosted its stake in shares of CareTrust REIT by 5.5% in the third quarter. Wellington Management Group LLP now owns 12,798,055 shares of the real estate investment trust’s stock valued at $394,948,000 after buying an additional 670,348 shares during the period. Institutional investors own 87.77% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on CTRE. BMO Capital Markets lowered CareTrust REIT from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $34.00 to $32.00 in a research note on Monday, December 9th. Royal Bank of Canada decreased their price target 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. Finally, Wedbush cut shares of CareTrust REIT from a “neutral” rating to an “underperform” rating and cut their price objective for the stock from $34.00 to $26.00 in a research report on Thursday, January 2nd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $30.83.

CareTrust REIT Stock Up 2.0 %

Shares of NASDAQ CTRE opened at $26.39 on Tuesday. The company has a market cap of $4.95 billion, a price-to-earnings ratio of 33.40, a PEG ratio of 1.25 and a beta of 1.09. The company has a current ratio of 3.82, a quick ratio of 3.82 and a debt-to-equity ratio of 0.14. CareTrust REIT, Inc. has a 12 month low of $22.80 and a 12 month high of $33.15. The stock has a 50-day moving average price of $26.53 and a two-hundred day moving average price of $28.82.

CareTrust REIT (NASDAQ:CTRE) last released its quarterly earnings data on Wednesday, February 12th. The real estate investment trust reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 quarter last year, the firm earned $0.25 EPS. As a group, analysts forecast that CareTrust REIT, Inc. will post 1.71 earnings per share for the current fiscal year.

CareTrust REIT Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were paid a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 4.40%. The ex-dividend date of this dividend was Tuesday, December 31st. CareTrust REIT’s 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.