Janney Montgomery Scott LLC Grows Position in CareTrust REIT, Inc. (NASDAQ:CTRE)

Janney Montgomery Scott LLC boosted its stake in CareTrust REIT, Inc. (NASDAQ:CTRE) by 3.2% during the 4th quarter, Holdings Channel reports. The institutional investor owned 37,297 shares of the real estate investment trust’s stock after acquiring an additional 1,165 shares during the period. Janney Montgomery Scott LLC’s holdings in CareTrust REIT were worth $1,009,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Wellington Management Group LLP raised its holdings in shares of CareTrust REIT by 5.5% in the 3rd quarter. Wellington Management Group LLP now owns 12,798,055 shares of the real estate investment trust’s stock valued at $394,948,000 after buying an additional 670,348 shares during the period. State Street Corp grew its position in CareTrust REIT by 6.7% in the 3rd quarter. State Street Corp now owns 8,323,360 shares of the real estate investment trust’s stock valued at $259,255,000 after acquiring an additional 520,783 shares in the last quarter. JPMorgan Chase & Co. increased 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 purchasing an additional 5,448,904 shares during the period. FMR LLC lifted its position in shares of CareTrust REIT by 209.9% during the third quarter. FMR LLC now owns 5,224,896 shares of the real estate investment trust’s stock worth $161,240,000 after purchasing an additional 3,538,798 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of CareTrust REIT by 7.4% in the third quarter. Geode Capital Management LLC now owns 3,732,609 shares of the real estate investment trust’s stock valued at $115,209,000 after purchasing an additional 258,271 shares during the period. Institutional investors and hedge funds own 87.77% of the company’s stock.

CareTrust REIT Price Performance

Shares of CTRE opened at $26.76 on Thursday. The company has a current ratio of 7.60, a quick ratio of 7.60 and a debt-to-equity ratio of 0.16. The firm’s fifty day simple moving average is $27.49 and its 200-day simple moving average is $28.95. The firm has a market capitalization of $4.59 billion, a price-to-earnings ratio of 37.16, a PEG ratio of 1.25 and a beta of 1.09. CareTrust REIT, Inc. has a twelve month low of $20.33 and a twelve month high of $33.15.

CareTrust REIT Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were given a dividend of $0.29 per share. The ex-dividend date was Tuesday, December 31st. This represents a $1.16 annualized dividend and a dividend yield of 4.34%. CareTrust REIT’s dividend payout ratio is currently 161.11%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on CTRE shares. BMO Capital Markets lowered CareTrust REIT from an “outperform” rating to a “market perform” rating and cut their price objective for the stock from $34.00 to $32.00 in a research report on Monday, December 9th. Wedbush cut CareTrust REIT from a “neutral” rating to an “underperform” rating and lowered their target price for the stock from $34.00 to $26.00 in a research note on Thursday, January 2nd. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $30.67.

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.