Alliancebernstein L.P. boosted its position in CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) by 25.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 249,046 shares of the real estate investment trust's stock after purchasing an additional 50,859 shares during the period. Alliancebernstein L.P. owned about 0.15% of CareTrust REIT worth $6,737,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Advantage Trust Co acquired a new stake in CareTrust REIT in the fourth quarter valued at $30,000. Versant Capital Management Inc grew its stake in CareTrust REIT by 98.8% in the 4th quarter. Versant Capital Management Inc now owns 1,495 shares of the real estate investment trust's stock valued at $40,000 after acquiring an additional 743 shares during the last quarter. Blue Trust Inc. grew its stake in CareTrust REIT by 50.0% in the 4th quarter. Blue Trust Inc. now owns 1,808 shares of the real estate investment trust's stock valued at $49,000 after acquiring an additional 603 shares during the last quarter. Signaturefd LLC increased its holdings 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 valued at $71,000 after acquiring an additional 443 shares in the last quarter. Finally, GAMMA Investing LLC raised its position in CareTrust REIT by 24.4% during the fourth quarter. GAMMA Investing LLC now owns 4,033 shares of the real estate investment trust's stock worth $109,000 after acquiring an additional 790 shares during the last quarter. 87.77% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several research firms have weighed in on CTRE. Royal Bank of Canada dropped their price target on CareTrust REIT from $37.00 to $32.00 and set an "outperform" rating for the company in a research report on Friday, February 21st. Deutsche Bank Aktiengesellschaft upgraded CareTrust REIT from a "hold" rating to a "buy" rating and set a $31.00 price objective for the company in a research report on Thursday, March 13th. Wells Fargo & Company reduced their target price on shares of CareTrust REIT from $34.00 to $31.00 and set an "overweight" rating on the stock in a report on Monday, March 10th. Finally, Wedbush reiterated an "underperform" rating and set a $26.00 price target on shares of CareTrust REIT in a report on Friday, March 14th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, CareTrust REIT has an average rating of "Moderate Buy" and a consensus target price of $31.00.
Check Out Our Latest Analysis on CareTrust REIT
CareTrust REIT Trading Up 0.4 %
NASDAQ CTRE traded up $0.10 during trading hours on Wednesday, hitting $28.51. 617,583 shares of the company's stock were exchanged, compared to its average volume of 1,758,836. The business's 50 day moving average is $27.16 and its 200-day moving average is $28.33. 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, Inc. has a 12-month low of $23.26 and a 12-month high of $33.15. The firm has a market capitalization of $5.35 billion, a P/E ratio of 36.09, a price-to-earnings-growth ratio of 1.25 and a beta of 0.88.
CareTrust REIT (NASDAQ:CTRE - Get Free Report) last announced its quarterly 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 net margin of 42.22% and a return on equity of 5.59%. During the same quarter last year, the business posted $0.25 earnings per share. As a group, analysts anticipate that CareTrust REIT, Inc. will post 1.71 EPS for the current fiscal year.
CareTrust REIT Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were given a dividend of $0.335 per share. This represents a $1.34 dividend on an annualized basis and a yield of 4.70%. 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. CareTrust REIT's payout ratio is 169.62%.
CareTrust REIT Profile
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Free Report)
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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