Asset Management One Co. Ltd. Boosts Stake in CareTrust REIT, Inc. (NASDAQ:CTRE)

Asset Management One Co. Ltd. boosted its stake in shares of CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) by 10.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 400,083 shares of the real estate investment trust's stock after acquiring an additional 36,754 shares during the quarter. Asset Management One Co. Ltd. owned 0.23% of CareTrust REIT worth $10,826,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the stock. Blue Trust Inc. grew its holdings in CareTrust REIT by 178.3% in the third quarter. Blue Trust Inc. now owns 1,205 shares of the real estate investment trust's stock valued at $37,000 after purchasing an additional 772 shares during the period. Versant Capital Management Inc grew 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. Loomis Sayles & Co. L P grew its holdings in CareTrust REIT by 5,527.8% in the third quarter. Loomis Sayles & Co. L P now owns 2,026 shares of the real estate investment trust's stock valued at $63,000 after purchasing an additional 1,990 shares during the period. Signaturefd LLC grew its holdings in CareTrust REIT by 55.0% in the third quarter. Signaturefd LLC now owns 2,185 shares of the real estate investment trust's stock valued at $67,000 after purchasing an additional 775 shares during the period. Finally, FSA Wealth Management LLC acquired a new stake in CareTrust REIT in the third quarter valued at approximately $80,000. 87.77% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CTRE has been the topic of several research analyst reports. Wedbush lowered CareTrust REIT from a "neutral" rating to an "underperform" rating and dropped their price objective for the company from $34.00 to $26.00 in a report on Thursday, January 2nd. BMO Capital Markets lowered CareTrust REIT from an "outperform" rating to a "market perform" rating and dropped their price objective for the company from $34.00 to $32.00 in a report on Monday, December 9th. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $30.67.

CareTrust REIT Price Performance

Shares of NASDAQ:CTRE traded down $0.23 during trading on Thursday, reaching $25.63. The stock had a trading volume of 1,308,993 shares, compared to its average volume of 1,743,642. The company has a debt-to-equity ratio of 0.14, a quick ratio of 3.82 and a current ratio of 3.82. The business has a fifty day moving average price of $26.87 and a 200-day moving average price of $28.90. The stock has a market cap of $4.81 billion, a PE ratio of 32.44, a PEG ratio of 1.26 and a beta of 1.09. CareTrust REIT, Inc. has a 1-year low of $22.46 and a 1-year 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 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 business earned $0.25 earnings per share. On average, equities analysts forecast that CareTrust REIT, Inc. will post 1.72 earnings per share for the current fiscal year.

CareTrust REIT Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were paid a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 4.53%. The ex-dividend date of this dividend was Tuesday, December 31st. CareTrust REIT's dividend payout ratio (DPR) is currently 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.