89,881 Shares in CareTrust REIT, Inc. (NASDAQ:CTRE) Bought by Caisse Des Depots ET Consignations

Caisse Des Depots ET Consignations acquired a new position in shares of CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 89,881 shares of the real estate investment trust's stock, valued at approximately $2,431,000. Caisse Des Depots ET Consignations owned 0.05% of CareTrust REIT as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. Advantage Trust Co acquired a new stake in CareTrust REIT during the fourth quarter worth $30,000. Versant Capital Management Inc raised its position in CareTrust REIT by 98.8% in the fourth quarter. Versant Capital Management Inc now owns 1,495 shares of the real estate investment trust's stock worth $40,000 after purchasing an additional 743 shares in the last quarter. Blue Trust Inc. lifted its stake in CareTrust REIT by 50.0% during the fourth quarter. Blue Trust Inc. now owns 1,808 shares of the real estate investment trust's stock worth $49,000 after purchasing an additional 603 shares during the period. Loomis Sayles & Co. L P boosted its holdings in CareTrust REIT by 5,527.8% during 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 purchasing an additional 1,990 shares in the last quarter. Finally, FSA Wealth Management LLC bought a new stake in shares of CareTrust REIT in the 3rd quarter valued at approximately $80,000. Institutional investors and hedge funds own 87.77% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on CTRE shares. Wedbush restated an "underperform" rating and set a $26.00 target price on shares of CareTrust REIT in a research 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 target price on the stock in a research note on Thursday, March 13th. Royal Bank of Canada dropped their target price 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. BMO Capital Markets cut shares of CareTrust REIT from an "outperform" rating to a "market perform" rating and cut their target price for the company from $34.00 to $32.00 in a research note on Monday, December 9th. Finally, Wells Fargo & Company cut their price objective on CareTrust REIT from $34.00 to $31.00 and set an "overweight" rating for the company in a research 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 MarketBeat, CareTrust REIT presently has a consensus rating of "Moderate Buy" and a consensus target price of $31.00.

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CareTrust REIT Trading Up 0.2 %

CTRE traded up $0.05 during mid-day trading on Tuesday, reaching $28.63. The stock had a trading volume of 510,101 shares, compared to its average volume of 1,711,129. The firm's fifty day simple moving average is $26.90 and its two-hundred day simple moving average is $28.57. The stock has a market capitalization of $5.37 billion, a P/E ratio of 36.25, a P/E/G ratio of 1.25 and a beta of 1.11. CareTrust REIT, Inc. has a 52 week low of $23.26 and a 52 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.

CareTrust REIT (NASDAQ:CTRE - Get Free Report) last posted its quarterly earnings results on Wednesday, February 12th. The real estate investment trust reported $0.29 earnings per share (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 in the prior year, the firm posted $0.25 earnings per share. On average, equities analysts predict that CareTrust REIT, Inc. will post 1.71 EPS for the current year.

CareTrust REIT Increases Dividend

The firm also recently declared 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. This represents a $1.34 dividend on an annualized basis and a dividend yield of 4.68%. This is an increase from CareTrust REIT's previous quarterly dividend of $0.29. The ex-dividend date is Monday, March 31st. CareTrust REIT's payout ratio is 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.