Fmr LLC Has $161.24 Million Stock Holdings in CareTrust REIT, Inc. (NASDAQ:CTRE)

Fmr LLC increased its position in shares of CareTrust REIT, Inc. (NASDAQ:CTRE) by 209.9% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,224,896 shares of the real estate investment trust’s stock after purchasing an additional 3,538,798 shares during the quarter. Fmr LLC owned approximately 3.05% of CareTrust REIT worth $161,240,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Newbridge Financial Services Group Inc. acquired a new stake in shares of CareTrust REIT during the second quarter worth approximately $27,000. Blue Trust Inc. increased its holdings 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. Rothschild Investment LLC acquired a new position in CareTrust REIT in the second quarter worth $34,000. Quest Partners LLC acquired a new position in CareTrust REIT in the second quarter worth $40,000. Finally, GAMMA Investing LLC grew its holdings in shares of CareTrust REIT by 187.7% during the second quarter. GAMMA Investing LLC now owns 1,752 shares of the real estate investment trust’s stock worth $44,000 after purchasing an additional 1,143 shares during the last quarter. 87.77% of the stock is owned by institutional investors.

CareTrust REIT Stock Down 0.0 %

Shares of CareTrust REIT stock opened at $29.16 on Wednesday. The company has a quick ratio of 7.60, a current ratio of 7.60 and a debt-to-equity ratio of 0.16. CareTrust REIT, Inc. has a 12 month low of $20.10 and a 12 month high of $33.15. The stock has a market cap of $5.00 billion, a PE ratio of 40.50 and a beta of 1.07. The business has a fifty day simple moving average of $30.61 and a 200 day simple moving average of $28.41.

CareTrust REIT (NASDAQ:CTRE) last announced its quarterly earnings results 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 return on equity of 5.32% and a net margin of 36.88%. The firm had revenue of $77.38 million for the quarter, compared to the consensus estimate of $74.12 million. During the same period in the prior year, the business earned $0.35 earnings per share. Research analysts predict that CareTrust REIT, Inc. will post 1.5 EPS for the current year.

CareTrust REIT Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were paid a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 3.98%. The ex-dividend date of this dividend was Monday, September 30th. CareTrust REIT’s payout ratio is presently 161.11%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. BMO Capital Markets upped their price target on shares of CareTrust REIT from $33.00 to $34.00 and gave the stock an “outperform” rating in a research report on Monday, October 7th. Royal Bank of Canada increased their price target on shares of CareTrust REIT from $27.00 to $31.00 and gave the company an “outperform” rating in a research note on Thursday, August 22nd. KeyCorp raised their price target on shares of CareTrust REIT from $27.00 to $34.00 and gave the company an “overweight” rating in a report on Monday, October 7th. Finally, Wells Fargo & Company upgraded CareTrust REIT from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $28.00 to $34.00 in a research report on Tuesday, October 1st. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $31.00.

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.