CareTrust REIT, Inc. (NASDAQ:CTRE) Shares Purchased by Quantbot Technologies LP

Quantbot Technologies LP grew its position in CareTrust REIT, Inc. (NASDAQ:CTRE) by 40.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 179,484 shares of the real estate investment trust’s stock after purchasing an additional 51,792 shares during the period. Quantbot Technologies LP owned approximately 0.10% of CareTrust REIT worth $4,855,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of CTRE. Advantage Trust Co acquired a new position in shares of CareTrust REIT in the 4th quarter valued at about $30,000. Versant Capital Management Inc lifted its position in CareTrust REIT by 98.8% during the 4th quarter. Versant Capital Management Inc now owns 1,495 shares of the real estate investment trust’s stock worth $40,000 after acquiring an additional 743 shares in the last quarter. Blue Trust Inc. lifted its position in CareTrust REIT by 50.0% during the 4th quarter. Blue Trust Inc. now owns 1,808 shares of the real estate investment trust’s stock worth $49,000 after acquiring an additional 603 shares in the last quarter. Loomis Sayles & Co. L P lifted its position 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 acquiring an additional 1,990 shares in the last quarter. Finally, Signaturefd LLC lifted its position in CareTrust REIT by 20.3% during the 4th quarter. Signaturefd LLC now owns 2,628 shares of the real estate investment trust’s stock worth $71,000 after acquiring an additional 443 shares in the last quarter. 87.77% of the stock is owned by institutional investors and hedge funds.

CareTrust REIT Stock Performance

CTRE opened at $28.70 on Friday. CareTrust REIT, Inc. has a 12-month low of $23.26 and a 12-month high of $33.15. The firm has a market capitalization of $5.39 billion, a P/E ratio of 36.33, a price-to-earnings-growth ratio of 1.25 and a beta of 1.11. The stock’s 50 day moving average price is $26.66 and its two-hundred day moving average price is $28.64. 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 (NASDAQ:CTRE) last announced its quarterly earnings results on Wednesday, February 12th. The real estate investment trust reported $0.29 EPS for the quarter, missing the consensus estimate 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 period last year, the business posted $0.25 earnings per share. On average, equities analysts forecast that CareTrust REIT, Inc. will post 1.71 earnings per share for the current year.

CareTrust REIT Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be paid a dividend of $0.335 per share. The ex-dividend date of this dividend is Monday, March 31st. This is a boost from CareTrust REIT’s previous quarterly dividend of $0.29. This represents a $1.34 dividend on an annualized basis and a dividend yield of 4.67%. CareTrust REIT’s payout ratio is 146.84%.

Wall Street Analyst Weigh In

Several research firms have issued reports on CTRE. Deutsche Bank Aktiengesellschaft upgraded CareTrust REIT from a “hold” rating to a “buy” rating and set a $31.00 price objective on the stock in a report on Thursday, March 13th. Wells Fargo & Company dropped their target price on CareTrust REIT from $34.00 to $31.00 and set an “overweight” rating on the stock in a research report on Monday, March 10th. BMO Capital Markets lowered CareTrust REIT from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $34.00 to $32.00 in a research report on Monday, December 9th. Wedbush reissued an “underperform” rating and set a $26.00 price target on shares of CareTrust REIT in a report on Friday, March 14th. Finally, Royal Bank of Canada decreased their target price on CareTrust REIT from $37.00 to $32.00 and set an “outperform” rating for the company in a research note on Friday, February 21st. One analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $31.00.

CareTrust REIT Company 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.