Arrowstreet Capital Limited Partnership Sells 215,736 Shares of CareTrust REIT, Inc. (NASDAQ:CTRE)

Arrowstreet Capital Limited Partnership lowered its stake in shares of CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) by 19.4% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 896,475 shares of the real estate investment trust's stock after selling 215,736 shares during the period. Arrowstreet Capital Limited Partnership owned approximately 0.52% of CareTrust REIT worth $24,250,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Advantage Trust Co bought a new stake in shares of CareTrust REIT in the 4th quarter worth about $30,000. Versant Capital Management Inc lifted its stake in shares of CareTrust REIT by 98.8% during the fourth quarter. Versant Capital Management Inc now owns 1,495 shares of the real estate investment trust's stock worth $40,000 after buying an additional 743 shares during the period. Blue Trust Inc. boosted its position in CareTrust REIT by 50.0% in the fourth quarter. Blue Trust Inc. now owns 1,808 shares of the real estate investment trust's stock valued at $49,000 after buying an additional 603 shares during the last quarter. Signaturefd LLC grew its position 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 worth $71,000 after purchasing an additional 443 shares during the period. Finally, GAMMA Investing LLC increased its holdings in shares of CareTrust REIT by 24.4% during the 4th quarter. GAMMA Investing LLC now owns 4,033 shares of the real estate investment trust's stock valued at $109,000 after purchasing an additional 790 shares in the last quarter. 87.77% of the stock is currently owned by institutional investors.

Remove Ads

CareTrust REIT Stock Performance

NASDAQ:CTRE traded down $0.12 during mid-day trading on Tuesday, hitting $26.62. The stock had a trading volume of 1,787,504 shares, compared to its average volume of 1,749,472. The company has a 50 day simple moving average of $27.00 and a 200-day simple moving average of $28.43. The stock has a market capitalization of $5.00 billion, a price-to-earnings ratio of 33.70, a P/E/G ratio of 1.25 and a beta of 0.88. The company has a current ratio of 3.82, a quick ratio of 3.82 and a debt-to-equity ratio of 0.14. 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 issued its quarterly earnings results on Wednesday, February 12th. The real estate investment trust reported $0.29 earnings per share (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 last year, the firm earned $0.25 EPS. On average, research analysts expect that CareTrust REIT, Inc. will post 1.71 earnings per share for the current fiscal year.

CareTrust REIT Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be paid a dividend of $0.335 per share. This represents a $1.34 annualized dividend and a dividend yield of 5.03%. The ex-dividend date is Monday, March 31st. This is an increase from CareTrust REIT's previous quarterly dividend of $0.29. CareTrust REIT's dividend payout ratio is 169.62%.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. BMO Capital Markets lowered shares of CareTrust REIT from an "outperform" rating to a "market perform" rating and decreased their price target for the company from $34.00 to $32.00 in a research note on Monday, December 9th. Deutsche Bank Aktiengesellschaft upgraded CareTrust REIT from a "hold" rating to a "buy" rating and set a $31.00 target price for the company in a report on Thursday, March 13th. Royal Bank of Canada dropped 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 reduced their price objective on CareTrust REIT from $34.00 to $31.00 and set an "overweight" rating for the company in a research note on Monday, March 10th. Finally, Wedbush reiterated an "underperform" rating and issued a $26.00 price objective on shares of CareTrust REIT in a research report on Friday, March 14th. One analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price 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.