Magnetar Financial LLC Invests $1.65 Million in CareTrust REIT, Inc. (NASDAQ:CTRE)

Magnetar Financial LLC acquired a new stake in shares of CareTrust REIT, Inc. (NASDAQ:CTRE) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 61,147 shares of the real estate investment trust’s stock, valued at approximately $1,654,000.

A number of other institutional investors have also recently bought and sold shares of CTRE. JPMorgan Chase & Co. grew its holdings 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 valued at $212,267,000 after purchasing an additional 5,448,904 shares during the period. FMR LLC grew its holdings in 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 valued at $161,240,000 after purchasing an additional 3,538,798 shares during the period. Raymond James Financial Inc. acquired a new position in CareTrust REIT during the fourth quarter valued at approximately $49,048,000. Heitman Real Estate Securities LLC acquired a new position in CareTrust REIT during the third quarter valued at approximately $27,534,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in CareTrust REIT by 344.0% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 951,535 shares of the real estate investment trust’s stock valued at $29,364,000 after purchasing an additional 737,236 shares during the period. Institutional investors and hedge funds own 87.77% of the company’s stock.

CareTrust REIT Stock Performance

Shares of CTRE stock opened at $28.99 on Friday. The company’s fifty day simple moving average is $26.60 and its 200-day simple moving average is $28.65. The company has a quick ratio of 3.82, a current ratio of 3.82 and a debt-to-equity ratio of 0.14. The firm has a market cap of $5.44 billion, a PE ratio of 36.69, a P/E/G ratio of 1.25 and a beta of 1.11. CareTrust REIT, Inc. has a 12 month low of $23.26 and a 12 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 EPS for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.12). CareTrust REIT had a return on equity of 5.59% and a net margin of 42.22%. During the same quarter in the prior year, the business posted $0.25 earnings per share. Equities research analysts expect that CareTrust REIT, Inc. will post 1.71 EPS for the current fiscal year.

CareTrust REIT Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be given a $0.335 dividend. This represents a $1.34 dividend on an annualized basis and a dividend yield of 4.62%. The ex-dividend date is Monday, March 31st. This is a positive change from CareTrust REIT’s previous quarterly dividend of $0.29. CareTrust REIT’s payout ratio is currently 146.84%.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. BMO Capital Markets cut shares of CareTrust REIT from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $34.00 to $32.00 in a report on Monday, December 9th. Wedbush reiterated an “underperform” rating and issued a $26.00 price target on shares of CareTrust REIT in a report on Friday, March 14th. Deutsche Bank Aktiengesellschaft upgraded shares of CareTrust REIT from a “hold” rating to a “buy” rating and set a $31.00 price target for the company in a report on Thursday, March 13th. Royal Bank of Canada reduced their price target on shares of CareTrust REIT from $37.00 to $32.00 and set an “outperform” rating for the company in a report on Friday, February 21st. Finally, Wells Fargo & Company reduced their price target on shares of CareTrust REIT from $34.00 to $31.00 and set an “overweight” rating for the company in a report on Monday, March 10th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, CareTrust REIT currently has a consensus rating of “Moderate Buy” and a consensus price target of $31.00.

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.