abrdn plc Increases Stock Holdings in CareTrust REIT, Inc. (NASDAQ:CTRE)

abrdn plc raised its stake in shares of CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) by 110.3% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 59,143 shares of the real estate investment trust's stock after buying an additional 31,018 shares during the quarter. abrdn plc's holdings in CareTrust REIT were worth $1,585,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in CTRE. JPMorgan Chase & Co. grew its holdings in CareTrust REIT by 381.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 6,878,379 shares of the real estate investment trust's stock valued at $212,267,000 after buying an additional 5,448,904 shares in the last quarter. FMR LLC grew its holdings in CareTrust REIT by 209.9% during the 3rd quarter. FMR LLC now owns 5,224,896 shares of the real estate investment trust's stock valued at $161,240,000 after buying an additional 3,538,798 shares in the last quarter. Heitman Real Estate Securities LLC purchased a new position in CareTrust REIT during the 3rd quarter valued at about $27,534,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in CareTrust REIT by 344.0% during the 3rd 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 buying an additional 737,236 shares in the last quarter. Finally, Wellington Management Group LLP grew its holdings in CareTrust REIT by 5.5% during the 3rd quarter. Wellington Management Group LLP now owns 12,798,055 shares of the real estate investment trust's stock valued at $394,948,000 after buying an additional 670,348 shares in the last quarter. Hedge funds and other institutional investors own 87.77% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. BMO Capital Markets lowered CareTrust REIT from an "outperform" rating to a "market perform" rating and reduced their target price for the company from $34.00 to $32.00 in a report on Monday, December 9th. Wedbush lowered CareTrust REIT from a "neutral" rating to an "underperform" rating and reduced their target price for the company from $34.00 to $26.00 in a report on Thursday, January 2nd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $30.67.

CareTrust REIT Trading Down 0.4 %

Shares of NASDAQ:CTRE traded down $0.10 during trading on Friday, reaching $26.43. 1,792,844 shares of the company traded hands, compared to its average volume of 1,736,058. The firm has a market capitalization of $4.53 billion, a price-to-earnings ratio of 36.70, a P/E/G ratio of 1.24 and a beta of 1.09. CareTrust REIT, Inc. has a 52-week low of $22.42 and a 52-week high of $33.15. The company has a current ratio of 7.60, a quick ratio of 7.60 and a debt-to-equity ratio of 0.16. The business's fifty day moving average is $27.02 and its 200-day moving average is $28.91.

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 earnings per share for the quarter, missing analysts' consensus estimates of $0.41 by ($0.12). CareTrust REIT had a net margin of 36.88% and a return on equity of 5.32%. During the same period in the previous year, the business posted $0.25 EPS. As a group, analysts forecast that CareTrust REIT, Inc. will post 1.5 EPS for the current year.

CareTrust REIT Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were paid a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 4.39%. The ex-dividend date was Tuesday, December 31st. CareTrust REIT's dividend payout ratio (DPR) is presently 146.84%.

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.