Amundi Increases Position in CareTrust REIT, Inc. (NASDAQ:CTRE)

Amundi lifted its holdings in CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) by 84.6% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 195,798 shares of the real estate investment trust's stock after purchasing an additional 89,728 shares during the period. Amundi owned approximately 0.11% of CareTrust REIT worth $5,271,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in CTRE. Advantage Trust Co acquired a new position in shares of CareTrust REIT in the fourth quarter worth $30,000. Versant Capital Management Inc boosted its holdings 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 valued at $40,000 after purchasing an additional 743 shares during the period. Blue Trust Inc. grew its stake in 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 increased its holdings in CareTrust REIT by 5,527.8% during the 3rd quarter. Loomis Sayles & Co. L P now owns 2,026 shares of the real estate investment trust's stock worth $63,000 after purchasing an additional 1,990 shares during the period. Finally, FSA Wealth Management LLC purchased a new stake in CareTrust REIT during the 3rd quarter worth about $80,000. 87.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently commented on CTRE. Deutsche Bank Aktiengesellschaft raised 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 lowered their price target on shares of CareTrust REIT from $34.00 to $31.00 and set an "overweight" rating for the company in a report on Monday, March 10th. Wedbush restated an "underperform" rating and issued a $26.00 price objective on shares of CareTrust REIT in a report on Friday, March 14th. BMO Capital Markets downgraded shares of CareTrust REIT from an "outperform" rating to a "market perform" rating and lowered their target price for the stock from $34.00 to $32.00 in a research note on Monday, December 9th. Finally, Royal Bank of Canada cut their price target on CareTrust REIT from $37.00 to $32.00 and set an "outperform" rating on the stock in a research note on Friday, February 21st. One equities research 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.com, the company has a consensus rating of "Moderate Buy" and an average price target of $31.00.

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CareTrust REIT Stock Up 0.9 %

NASDAQ:CTRE traded up $0.26 during midday trading on Wednesday, hitting $29.15. 1,067,216 shares of the company were exchanged, compared to its average volume of 1,615,036. CareTrust REIT, Inc. has a fifty-two week low of $23.26 and a fifty-two week high of $33.15. The company has a market capitalization of $5.47 billion, a PE ratio of 36.89, a price-to-earnings-growth ratio of 1.25 and a beta of 1.11. 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 fifty day simple moving average of $26.52 and a 200 day simple moving average of $28.65.

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

CareTrust REIT Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be issued a $0.335 dividend. This is an increase from CareTrust REIT's previous quarterly dividend of $0.29. This represents a $1.34 annualized dividend and a dividend yield of 4.60%. CareTrust REIT's dividend payout ratio is presently 146.84%.

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.