Everence Capital Management Inc. Sells 5,130 Shares of CareTrust REIT, Inc. (NASDAQ:CTRE)

Everence Capital Management Inc. trimmed its holdings in shares of CareTrust REIT, Inc. (NASDAQ:CTRE) by 29.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 12,330 shares of the real estate investment trust’s stock after selling 5,130 shares during the quarter. Everence Capital Management Inc.’s holdings in CareTrust REIT were worth $334,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in CTRE. Newbridge Financial Services Group Inc. purchased a new position in CareTrust REIT in the 2nd quarter worth about $27,000. Blue Trust Inc. increased its position in shares of CareTrust REIT by 178.3% during the third quarter. Blue Trust Inc. now owns 1,205 shares of the real estate investment trust’s stock worth $37,000 after acquiring an additional 772 shares during the period. Quest Partners LLC bought a new stake in shares of CareTrust REIT during the second quarter valued at approximately $40,000. Versant Capital Management Inc grew its stake in CareTrust REIT by 98.8% in the fourth 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. Finally, Loomis Sayles & Co. L P increased its holdings 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 worth $63,000 after purchasing an additional 1,990 shares during the period. 87.77% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have recently issued reports on CTRE. BMO Capital Markets downgraded CareTrust REIT from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $34.00 to $32.00 in a research report on Monday, December 9th. KeyCorp increased their target price on shares of CareTrust REIT from $27.00 to $34.00 and gave the stock an “overweight” rating in a report on Monday, October 7th. Wedbush lowered shares of CareTrust REIT from a “neutral” rating to an “underperform” rating and reduced their price target for the company from $34.00 to $26.00 in a report on Thursday, January 2nd. Finally, 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. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $30.67.

CareTrust REIT Stock Performance

Shares of CareTrust REIT stock opened at $26.38 on Tuesday. CareTrust REIT, Inc. has a one year low of $20.10 and a one year high of $33.15. The company has a market capitalization of $4.52 billion, a PE ratio of 36.64, a P/E/G ratio of 1.59 and a beta of 1.09. The company has a debt-to-equity ratio of 0.16, a quick ratio of 7.60 and a current ratio of 7.60. The company has a 50-day simple moving average of $29.27 and a two-hundred day simple moving average of $28.81.

CareTrust REIT (NASDAQ:CTRE) last announced its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.21 earnings per share for the quarter, missing the consensus estimate of $0.29 by ($0.08). The firm 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 quarter last year, the business earned $0.35 earnings per share. Research analysts expect that CareTrust REIT, Inc. will post 1.5 EPS for the current fiscal 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 given a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 4.40%. The ex-dividend date of this dividend is Tuesday, December 31st. CareTrust REIT’s dividend 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.