Ameritas Advisory Services LLC Purchases 1,415 Shares of CareTrust REIT, Inc. (NASDAQ:CTRE)

Ameritas Advisory Services LLC lifted its holdings in CareTrust REIT, Inc. (NASDAQ:CTRE) by 11.1% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 14,111 shares of the real estate investment trust’s stock after acquiring an additional 1,415 shares during the quarter. Ameritas Advisory Services LLC’s holdings in CareTrust REIT were worth $382,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Hsbc Holdings PLC lifted its position in CareTrust REIT by 25.4% in the 2nd quarter. Hsbc Holdings PLC now owns 104,410 shares of the real estate investment trust’s stock valued at $2,618,000 after acquiring an additional 21,145 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in CareTrust REIT by 381.2% during the third quarter. JPMorgan Chase & Co. now owns 6,878,379 shares of the real estate investment trust’s stock worth $212,267,000 after buying an additional 5,448,904 shares during the period. Eagle Asset Management Inc. increased its stake in CareTrust REIT by 22.4% in the third quarter. Eagle Asset Management Inc. now owns 428,699 shares of the real estate investment trust’s stock worth $13,264,000 after purchasing an additional 78,560 shares during the period. Raymond James & Associates raised its position in CareTrust REIT by 10.6% during the 3rd quarter. Raymond James & Associates now owns 684,971 shares of the real estate investment trust’s stock valued at $21,138,000 after purchasing an additional 65,756 shares in the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new position in shares of CareTrust REIT in the 3rd quarter worth $7,475,000. Institutional investors own 87.77% of the company’s stock.

Analysts Set New Price Targets

CTRE has been the topic of a number of recent research reports. Wells Fargo & Company upgraded CareTrust REIT from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $28.00 to $34.00 in a research report on Tuesday, October 1st. 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 research note on Monday, December 9th. Wedbush lowered CareTrust REIT from a “neutral” rating to an “underperform” rating and decreased their target price for the company from $34.00 to $26.00 in a report on Thursday, January 2nd. Finally, KeyCorp boosted their target price on CareTrust REIT from $27.00 to $34.00 and gave the stock an “overweight” rating in a research note on Monday, October 7th. One equities research 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’s stock. According to data from MarketBeat.com, CareTrust REIT has an average rating of “Hold” and an average price target of $30.67.

CareTrust REIT Trading Up 1.0 %

NASDAQ:CTRE opened at $26.72 on Friday. The stock has a market cap of $4.58 billion, a price-to-earnings ratio of 37.12, a PEG ratio of 1.28 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. CareTrust REIT, Inc. has a 1 year low of $20.10 and a 1 year high of $33.15. The business has a fifty day moving average of $28.20 and a 200-day moving average of $28.92.

CareTrust REIT (NASDAQ:CTRE) last posted 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). The company had revenue of $77.38 million during the quarter, compared to analyst estimates of $74.12 million. CareTrust REIT had a return on equity of 5.32% and a net margin of 36.88%. During the same period last year, the company posted $0.35 earnings per share. Equities analysts predict that CareTrust REIT, Inc. will post 1.5 earnings per share for the current year.

CareTrust REIT Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were paid a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 4.34%. The ex-dividend date was Tuesday, December 31st. CareTrust REIT’s dividend payout ratio is 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.