Jennison Associates LLC Cuts Stock Holdings in CareTrust REIT, Inc. (NASDAQ:CTRE)

Jennison Associates LLC trimmed its stake in shares of CareTrust REIT, Inc. (NASDAQ:CTRE) by 4.1% in the 4th quarter, HoldingsChannel.com reports. The fund owned 37,681 shares of the real estate investment trust’s stock after selling 1,602 shares during the period. Jennison Associates LLC’s holdings in CareTrust REIT were worth $1,019,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of CTRE. CWM LLC lifted its position in CareTrust REIT by 16.8% during the third quarter. CWM LLC now owns 3,244 shares of the real estate investment trust’s stock valued at $100,000 after purchasing an additional 467 shares during the last quarter. Quantinno Capital Management LP lifted its position in CareTrust REIT by 3.2% during the third quarter. Quantinno Capital Management LP now owns 17,097 shares of the real estate investment trust’s stock valued at $528,000 after purchasing an additional 533 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd lifted its holdings in shares of CareTrust REIT by 0.4% in the 3rd quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 151,594 shares of the real estate investment trust’s stock worth $4,678,000 after acquiring an additional 544 shares during the last quarter. Blue Trust Inc. lifted its holdings in shares of 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. Finally, Pitcairn Co. lifted its holdings in shares of CareTrust REIT by 5.3% in the 3rd quarter. Pitcairn Co. now owns 13,440 shares of the real estate investment trust’s stock worth $415,000 after acquiring an additional 671 shares during the last quarter. 87.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. BMO Capital Markets lowered shares of CareTrust REIT from an “outperform” rating to a “market perform” rating and lowered their target price 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 lowered their target price for the stock from $34.00 to $26.00 in a report on Thursday, January 2nd. One analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, CareTrust REIT currently has a consensus rating of “Hold” and an average price target of $30.67.

CareTrust REIT Trading Down 1.6 %

CTRE stock opened at $26.34 on Friday. The company has a market capitalization of $4.52 billion, a PE ratio of 36.59, a P/E/G ratio of 1.25 and a beta of 1.09. CareTrust REIT, Inc. has a 12 month low of $20.33 and a 12 month high of $33.15. The firm’s 50-day moving average is $27.42 and its 200 day moving average is $28.94. The company has a debt-to-equity ratio of 0.16, a current ratio of 7.60 and a quick ratio of 7.60.

CareTrust REIT Announces Dividend

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