Tidal Investments LLC Takes Position in CareTrust REIT, Inc. (NASDAQ:CTRE)

Tidal Investments LLC purchased a new position in shares of CareTrust REIT, Inc. (NASDAQ:CTRE) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 18,672 shares of the real estate investment trust’s stock, valued at approximately $576,000.

A number of other large investors also recently bought and sold shares of the business. Newbridge Financial Services Group Inc. purchased a new stake in shares of CareTrust REIT during the second quarter valued at $27,000. Rothschild Investment LLC bought a new position in CareTrust REIT in the second quarter worth approximately $34,000. Blue Trust Inc. raised its position in CareTrust REIT by 178.3% during the 3rd 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 in the last quarter. Quest Partners LLC purchased a new stake in shares of CareTrust REIT in the 2nd quarter worth $40,000. Finally, Loomis Sayles & Co. L P grew its position in shares of CareTrust REIT by 5,527.8% during the 3rd quarter. Loomis Sayles & Co. L P now owns 2,026 shares of the real estate investment trust’s stock worth $63,000 after buying an additional 1,990 shares in the last quarter. Hedge funds and other institutional investors own 87.77% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on CTRE. Wells Fargo & Company raised shares of CareTrust REIT from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $28.00 to $34.00 in a research note on Tuesday, October 1st. BMO Capital Markets lowered shares of CareTrust REIT from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $34.00 to $32.00 in a research note on Monday, December 9th. Finally, KeyCorp upped their price target on CareTrust REIT from $27.00 to $34.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $30.67.

CareTrust REIT Price Performance

NASDAQ CTRE opened at $27.36 on Monday. The company has a market cap of $4.69 billion, a price-to-earnings ratio of 38.00, a PEG ratio of 1.59 and a beta of 1.07. The company has a debt-to-equity ratio of 0.16, a current ratio of 7.60 and a quick ratio of 7.60. The stock’s fifty day moving average price is $30.10 and its 200 day moving average price is $28.68. CareTrust REIT, Inc. has a 1 year low of $20.10 and a 1 year high of $33.15.

CareTrust REIT (NASDAQ:CTRE) last announced its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.21 earnings per share for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.08). CareTrust REIT had a net margin of 36.88% and a return on equity of 5.32%. The firm had revenue of $77.38 million during the quarter, compared to analyst estimates of $74.12 million. During the same period in the prior year, the company posted $0.35 earnings per share. As a group, equities research analysts forecast that CareTrust REIT, Inc. will post 1.5 earnings per share for the current year.

CareTrust REIT Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be issued a dividend of $0.29 per share. The ex-dividend date is Tuesday, December 31st. This represents a $1.16 annualized dividend and a dividend yield of 4.24%. CareTrust REIT’s dividend payout ratio (DPR) is presently 161.11%.

CareTrust REIT Company Profile

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.