CareTrust REIT, Inc. (NASDAQ:CTRE) Holdings Raised by Truvestments Capital LLC

Truvestments Capital LLC increased its holdings in CareTrust REIT, Inc. (NASDAQ:CTRE) by 5.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 120,665 shares of the real estate investment trust’s stock after acquiring an additional 6,658 shares during the period. CareTrust REIT comprises about 0.8% of Truvestments Capital LLC’s holdings, making the stock its 24th largest holding. Truvestments Capital LLC owned approximately 0.07% of CareTrust REIT worth $3,264,000 at the end of the most recent quarter.

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

CareTrust REIT Stock Performance

CTRE opened at $26.05 on Wednesday. The firm has a market capitalization of $4.89 billion, a P/E ratio of 32.97, a price-to-earnings-growth ratio of 1.25 and a beta of 1.11. The stock’s 50 day moving average price is $26.39 and its two-hundred day moving average price is $28.72. 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 12-month low of $23.26 and a 12-month high of $33.15.

CareTrust REIT (NASDAQ:CTRE) last released its earnings results 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 net margin of 42.22% and a return on equity of 5.59%. During the same period last year, the business posted $0.25 earnings per share. On average, equities analysts forecast that CareTrust REIT, Inc. will post 1.71 earnings per share for the current year.

CareTrust REIT Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were given a $0.29 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $1.16 dividend on an annualized basis and a dividend yield of 4.45%. CareTrust REIT’s dividend payout ratio is currently 146.84%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on CTRE. Wedbush downgraded CareTrust REIT from a “neutral” rating to an “underperform” rating and cut their price target for the stock from $34.00 to $26.00 in a research note on Thursday, January 2nd. Royal Bank of Canada lowered their price objective on CareTrust REIT from $37.00 to $32.00 and set an “outperform” rating on the stock in a report on Friday, February 21st. BMO Capital Markets lowered CareTrust REIT from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $34.00 to $32.00 in a report on Monday, December 9th. Finally, Wells Fargo & Company lowered their price objective on CareTrust REIT from $34.00 to $31.00 and set an “overweight” rating on the stock in a report on Monday. One analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $30.33.

CareTrust REIT 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.