CareTrust REIT, Inc. (NASDAQ:CTRE) Shares Bought by Franklin Resources Inc.

Franklin Resources Inc. lifted its holdings in CareTrust REIT, Inc. (NASDAQ:CTRE) by 2.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 58,065 shares of the real estate investment trust’s stock after acquiring an additional 1,318 shares during the period. Franklin Resources Inc.’s holdings in CareTrust REIT were worth $1,754,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in CTRE. Newbridge Financial Services Group Inc. acquired a new stake in CareTrust REIT during the 2nd quarter valued at $27,000. Rothschild Investment LLC acquired a new stake in CareTrust REIT during the 2nd quarter valued at $34,000. Blue Trust Inc. grew 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. Quest Partners LLC acquired a new stake in CareTrust REIT during the 2nd quarter valued at $40,000. Finally, Loomis Sayles & Co. L P boosted its stake in 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 valued at $63,000 after acquiring an additional 1,990 shares during the last quarter. Institutional investors and hedge funds own 87.77% of the company’s stock.

Analysts Set New Price Targets

CTRE has been the topic of a number of research analyst reports. Wells Fargo & Company upgraded shares of 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 note on Tuesday, October 1st. KeyCorp increased their price objective on shares of CareTrust REIT from $27.00 to $34.00 and gave the company an “overweight” rating in a research note on Monday, October 7th. Finally, BMO Capital Markets downgraded shares of CareTrust REIT from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $34.00 to $32.00 in a research note on Monday, December 9th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, CareTrust REIT currently has an average rating of “Moderate Buy” and a consensus target price of $30.67.

CareTrust REIT Price Performance

Shares of NASDAQ:CTRE opened at $27.06 on Friday. CareTrust REIT, Inc. has a 1-year low of $20.10 and a 1-year high of $33.15. The firm has a market capitalization of $4.64 billion, a PE ratio of 37.58, a PEG ratio of 1.59 and a beta of 1.07. The business’s 50 day moving average is $29.84 and its 200-day moving average is $28.68. The company has a current ratio of 7.60, a quick ratio of 7.60 and a debt-to-equity ratio of 0.16.

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

CareTrust REIT Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be given a dividend of $0.29 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.16 dividend on an annualized basis and a dividend yield of 4.29%. CareTrust REIT’s payout ratio is currently 161.11%.

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.