Advantage Trust Co Takes Position in CareTrust REIT, Inc. (NASDAQ:CTRE)

Advantage Trust Co bought a new position in shares of CareTrust REIT, Inc. (NASDAQ:CTRE) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 1,100 shares of the real estate investment trust’s stock, valued at approximately $30,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Blue Trust Inc. increased its stake in shares of 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 worth $37,000 after purchasing an additional 772 shares during the last quarter. Versant Capital Management Inc increased its position in CareTrust REIT by 98.8% during the fourth quarter. Versant Capital Management Inc now owns 1,495 shares of the real estate investment trust’s stock worth $40,000 after buying an additional 743 shares during the last quarter. Loomis Sayles & Co. L P raised its stake in CareTrust REIT by 5,527.8% in the third quarter. Loomis Sayles & Co. L P now owns 2,026 shares of the real estate investment trust’s stock valued at $63,000 after buying an additional 1,990 shares during the period. Signaturefd LLC boosted its stake in CareTrust REIT by 55.0% in the 3rd quarter. Signaturefd LLC now owns 2,185 shares of the real estate investment trust’s stock valued at $67,000 after purchasing an additional 775 shares during the period. Finally, FSA Wealth Management LLC acquired a new position in CareTrust REIT in the 3rd quarter valued at $80,000. 87.77% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. BMO Capital Markets cut shares of CareTrust REIT from an “outperform” rating to a “market perform” rating and reduced their target price for the company from $34.00 to $32.00 in a research report on Monday, December 9th. Royal Bank of Canada cut their price objective on shares of CareTrust REIT from $37.00 to $32.00 and set an “outperform” rating for the company in a report on Friday. Finally, Wedbush cut shares of 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 report on Thursday, January 2nd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $30.83.

CareTrust REIT Trading Down 2.8 %

CTRE opened at $24.90 on Friday. The company has a 50-day simple moving average of $26.73 and a 200 day simple moving average of $28.86. The stock has a market capitalization of $4.67 billion, a price-to-earnings ratio of 31.51, a P/E/G ratio of 1.26 and a beta of 1.09. The company has a quick ratio of 3.82, a current ratio of 3.82 and a debt-to-equity ratio of 0.14. CareTrust REIT, Inc. has a twelve month low of $22.46 and a twelve month high of $33.15.

CareTrust REIT (NASDAQ:CTRE) last announced its quarterly earnings data on Wednesday, February 12th. The real estate investment trust reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.12). CareTrust REIT had a net margin of 42.22% and a return on equity of 5.59%. During the same quarter in the prior year, the firm earned $0.25 earnings per share. Analysts predict that CareTrust REIT, Inc. will post 1.71 EPS for the current fiscal year.

CareTrust REIT Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were issued a dividend of $0.29 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $1.16 dividend on an annualized basis and a dividend yield of 4.66%. CareTrust REIT’s dividend payout ratio (DPR) is currently 146.84%.

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.