221,594 Shares in CareTrust REIT, Inc. (NASDAQ:CTRE) Bought by Susquehanna Fundamental Investments LLC

Susquehanna Fundamental Investments LLC purchased a new stake in CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 221,594 shares of the real estate investment trust's stock, valued at approximately $5,994,000. Susquehanna Fundamental Investments LLC owned 0.13% of CareTrust REIT at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in CTRE. JPMorgan Chase & Co. raised its position in shares of CareTrust REIT by 381.2% in 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 acquiring an additional 5,448,904 shares during the period. Bank of New York Mellon Corp raised its holdings in CareTrust REIT by 5.3% in the 4th quarter. Bank of New York Mellon Corp now owns 2,505,883 shares of the real estate investment trust's stock worth $67,784,000 after purchasing an additional 126,280 shares during the period. Tidal Investments LLC purchased a new position in CareTrust REIT during the third quarter worth approximately $576,000. Rhumbline Advisers boosted its position in CareTrust REIT by 26.9% during the fourth quarter. Rhumbline Advisers now owns 572,664 shares of the real estate investment trust's stock worth $15,491,000 after purchasing an additional 121,328 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in CareTrust REIT by 24.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,891,679 shares of the real estate investment trust's stock valued at $78,220,000 after purchasing an additional 568,634 shares during the period. 87.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on CTRE. Deutsche Bank Aktiengesellschaft raised CareTrust REIT from a "hold" rating to a "buy" rating and set a $31.00 target price for the company in a research note on Thursday, March 13th. Royal Bank of Canada reduced their price objective on shares of CareTrust REIT from $37.00 to $32.00 and set an "outperform" rating for the company in a research report on Friday, February 21st. Wedbush reiterated an "underperform" rating and issued a $26.00 target price on shares of CareTrust REIT in a research report on Friday, March 14th. Finally, Wells Fargo & Company cut their target price on shares of CareTrust REIT from $34.00 to $31.00 and set an "overweight" rating for the company in a research note on Monday, March 10th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $31.00.

CareTrust REIT Stock Down 0.2 %

NASDAQ CTRE opened at $28.10 on Monday. The business has a fifty day moving average price of $27.52 and a 200 day moving average price of $28.20. 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 company has a market cap of $5.27 billion, a P/E ratio of 35.57, a P/E/G ratio of 1.25 and a beta of 0.88. CareTrust REIT, Inc. has a one year low of $24.35 and a one year high of $33.15.

CareTrust REIT (NASDAQ:CTRE - Get Free Report) last released 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 net margin of 42.22% and a return on equity of 5.59%. During the same quarter last year, the company posted $0.25 earnings per share. Research analysts anticipate that CareTrust REIT, Inc. will post 1.71 EPS for the current fiscal year.

CareTrust REIT Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were given a dividend of $0.335 per share. This is a boost from CareTrust REIT's previous quarterly dividend of $0.29. The ex-dividend date of this dividend was Monday, March 31st. This represents a $1.34 annualized dividend and a dividend yield of 4.77%. CareTrust REIT's payout ratio is presently 169.62%.

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.

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