AlphaQuest LLC Has $357,000 Position in CareTrust REIT, Inc. (NASDAQ:CTRE)

AlphaQuest LLC reduced its stake in CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) by 78.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,183 shares of the real estate investment trust's stock after selling 47,130 shares during the quarter. AlphaQuest LLC's holdings in CareTrust REIT were worth $357,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the company. Advantage Trust Co bought a new stake in CareTrust REIT during the fourth quarter worth about $30,000. Versant Capital Management Inc increased its position in shares of CareTrust REIT by 98.8% during the 4th 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 during the last quarter. Blue Trust Inc. raised its stake in shares of CareTrust REIT by 50.0% during the 4th 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 in the last quarter. Loomis Sayles & Co. L P boosted its holdings in shares of CareTrust REIT by 5,527.8% in the 3rd quarter. Loomis Sayles & Co. L P now owns 2,026 shares of the real estate investment trust's stock valued at $63,000 after buying an additional 1,990 shares during the last quarter. Finally, FSA Wealth Management LLC bought a new position in shares of CareTrust REIT in the third quarter valued at $80,000. Institutional investors own 87.77% of the company's stock.

CareTrust REIT Price Performance

Shares of NASDAQ CTRE traded up $0.08 during midday trading on Tuesday, reaching $28.89. 2,206,532 shares of the company were exchanged, compared to its average volume of 1,617,200. The stock's 50-day moving average price is $26.47 and its 200-day moving average price is $28.65. The stock has a market cap of $5.42 billion, a P/E ratio of 36.57, a PEG ratio of 1.25 and a beta of 1.11. The company has a quick ratio of 3.82, a current ratio of 3.82 and a debt-to-equity ratio of 0.14. CareTrust REIT, Inc. has a one year low of $23.26 and a one year high of $33.15.

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CareTrust REIT (NASDAQ:CTRE - Get Free Report) last issued 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 return on equity of 5.59% and a net margin of 42.22%. During the same period in the prior year, the business posted $0.25 EPS. On average, sell-side analysts anticipate that CareTrust REIT, Inc. will post 1.71 earnings per share 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. Investors of record on Monday, March 31st will be given a dividend of $0.335 per share. This is an increase from CareTrust REIT's previous quarterly dividend of $0.29. This represents a $1.34 annualized dividend and a yield of 4.64%. CareTrust REIT's dividend payout ratio (DPR) is currently 146.84%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Wedbush reaffirmed an "underperform" rating and issued a $26.00 price objective on shares of CareTrust REIT in a research report on Friday. 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 research report on Monday, March 10th. Deutsche Bank Aktiengesellschaft raised shares of CareTrust REIT from a "hold" rating to a "buy" rating and set a $31.00 price objective on the stock in a research report on Thursday, March 13th. Royal Bank of Canada cut 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. Finally, BMO Capital Markets downgraded CareTrust REIT from an "outperform" rating to a "market perform" rating and decreased their target price for the company from $34.00 to $32.00 in a research report on Monday, December 9th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $31.00.

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.