American Century Companies Inc. Has $24.09 Million Stock Holdings in CareTrust REIT, Inc. (NASDAQ:CTRE)

American Century Companies Inc. decreased its holdings in shares of CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) by 38.4% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 890,480 shares of the real estate investment trust's stock after selling 554,185 shares during the period. American Century Companies Inc. owned approximately 0.52% of CareTrust REIT worth $24,087,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Citigroup Inc. grew its position in shares of CareTrust REIT by 8.1% during the 3rd quarter. Citigroup Inc. now owns 198,070 shares of the real estate investment trust's stock worth $6,112,000 after buying an additional 14,801 shares during the period. Bank of Montreal Can boosted its stake in CareTrust REIT by 18.3% during the 3rd quarter. Bank of Montreal Can now owns 98,960 shares of the real estate investment trust's stock worth $3,044,000 after acquiring an additional 15,328 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in CareTrust REIT by 9.2% during the third quarter. The Manufacturers Life Insurance Company now owns 82,934 shares of the real estate investment trust's stock valued at $2,559,000 after purchasing an additional 6,979 shares during the period. FMR LLC increased its stake in CareTrust REIT by 209.9% in the third quarter. FMR LLC now owns 5,224,896 shares of the real estate investment trust's stock valued at $161,240,000 after purchasing an additional 3,538,798 shares in the last quarter. Finally, D.A. Davidson & CO. raised its holdings in CareTrust REIT by 5.4% in the third quarter. D.A. Davidson & CO. now owns 38,120 shares of the real estate investment trust's stock worth $1,176,000 after purchasing an additional 1,948 shares during the period. Institutional investors own 87.77% of the company's stock.

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CareTrust REIT Stock Up 1.0 %

Shares of CareTrust REIT stock traded up $0.27 during trading on Thursday, reaching $28.82. The stock had a trading volume of 3,256,648 shares, compared to its average volume of 1,727,930. The company has a current ratio of 3.82, a quick ratio of 3.82 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $5.41 billion, a price-to-earnings ratio of 36.48, a P/E/G ratio of 1.25 and a beta of 0.88. The stock has a fifty day moving average price of $27.00 and a two-hundred day moving average price of $28.56. CareTrust REIT, Inc. has a 52 week low of $23.26 and a 52 week high of $33.15.

CareTrust REIT (NASDAQ:CTRE - Get Free Report) last released its earnings results on Wednesday, February 12th. The real estate investment trust reported $0.29 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. Sell-side analysts predict that CareTrust REIT, Inc. will post 1.71 EPS 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 $0.335 dividend. The ex-dividend date is Monday, March 31st. This represents a $1.34 dividend on an annualized basis and a yield of 4.65%. This is an increase from CareTrust REIT's previous quarterly dividend of $0.29. CareTrust REIT's dividend payout ratio (DPR) is 169.62%.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. Deutsche Bank Aktiengesellschaft upgraded shares of 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. BMO Capital Markets downgraded CareTrust REIT from an "outperform" rating to a "market perform" rating and lowered their price target for the stock from $34.00 to $32.00 in a report on Monday, December 9th. Royal Bank of Canada cut their price objective on CareTrust REIT from $37.00 to $32.00 and set an "outperform" rating on the stock in a report on Friday, February 21st. Wells Fargo & Company decreased 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. Finally, Wedbush restated an "underperform" rating and set a $26.00 target price on shares of CareTrust REIT in a report on Friday, March 14th. One 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, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $31.00.

About CareTrust REIT

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.