Xponance Inc. Acquires 4,062 Shares of CareTrust REIT, Inc. (NASDAQ:CTRE)

Xponance Inc. lifted its stake in shares of CareTrust REIT, Inc. (NASDAQ:CTRE) by 43.6% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 13,379 shares of the real estate investment trust’s stock after buying an additional 4,062 shares during the period. Xponance Inc.’s holdings in CareTrust REIT were worth $362,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of CTRE. Intech Investment Management LLC grew its holdings in CareTrust REIT by 251.5% in the fourth quarter. Intech Investment Management LLC now owns 158,642 shares of the real estate investment trust’s stock worth $4,291,000 after purchasing an additional 113,515 shares during the period. Thrivent Financial for Lutherans grew its stake in shares of CareTrust REIT by 157.1% in the 4th quarter. Thrivent Financial for Lutherans now owns 311,358 shares of the real estate investment trust’s stock valued at $8,422,000 after buying an additional 190,259 shares during the period. William Blair Investment Management LLC increased its position in CareTrust REIT by 2.5% in the 4th quarter. William Blair Investment Management LLC now owns 1,567,009 shares of the real estate investment trust’s stock valued at $42,388,000 after buying an additional 37,963 shares in the last quarter. Signaturefd LLC increased its position in CareTrust REIT by 20.3% in the 4th quarter. Signaturefd LLC now owns 2,628 shares of the real estate investment trust’s stock valued at $71,000 after buying an additional 443 shares in the last quarter. Finally, Cibc World Markets Corp bought a new position in CareTrust REIT in the fourth quarter worth approximately $470,000. Institutional investors own 87.77% of the company’s stock.

Wall Street Analysts Forecast Growth

CTRE has been the subject of several recent research reports. Wedbush restated an “underperform” rating and set a $26.00 price objective 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 objective on the stock in a report on Thursday, March 13th. Wells Fargo & Company reduced their price objective 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. 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 report on Monday, December 9th. Finally, Royal Bank of Canada cut their price target 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 issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $31.00.

CareTrust REIT Stock Down 0.6 %

CareTrust REIT stock opened at $28.67 on Thursday. CareTrust REIT, Inc. has a fifty-two week low of $23.26 and a fifty-two week high of $33.15. The company has a debt-to-equity ratio of 0.14, a quick ratio of 3.82 and a current ratio of 3.82. The firm’s 50-day simple moving average is $26.79 and its 200 day simple moving average is $28.62. The stock has a market cap of $5.38 billion, a PE ratio of 36.29, a price-to-earnings-growth ratio of 1.25 and a beta of 1.11.

CareTrust REIT (NASDAQ:CTRE) last announced its earnings results on Wednesday, February 12th. The real estate investment trust reported $0.29 earnings per share 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 period in the previous year, the company posted $0.25 earnings per share. Research analysts predict that CareTrust REIT, Inc. will post 1.71 EPS for the current fiscal year.

CareTrust REIT Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be paid a dividend of $0.335 per share. This represents a $1.34 dividend on an annualized basis and a dividend yield of 4.67%. This is a boost from CareTrust REIT’s previous quarterly dividend of $0.29. The ex-dividend date is Monday, March 31st. CareTrust REIT’s payout ratio is presently 169.62%.

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.