Barclays PLC Has $8.02 Million Stock Position in CareTrust REIT, Inc. (NASDAQ:CTRE)

Barclays PLC boosted its position in shares of CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) by 264.9% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 259,820 shares of the real estate investment trust's stock after purchasing an additional 188,622 shares during the period. Barclays PLC owned about 0.15% of CareTrust REIT worth $8,017,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Envestnet Portfolio Solutions Inc. bought a new stake in shares of CareTrust REIT during the second quarter worth $212,000. Sumitomo Mitsui Trust Holdings Inc. lifted its position in CareTrust REIT by 6.9% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 157,148 shares of the real estate investment trust's stock worth $3,944,000 after buying an additional 10,212 shares in the last quarter. Nisa Investment Advisors LLC grew its holdings in CareTrust REIT by 11.1% during the 2nd quarter. Nisa Investment Advisors LLC now owns 48,425 shares of the real estate investment trust's stock worth $1,228,000 after acquiring an additional 4,833 shares during the last quarter. Louisiana State Employees Retirement System increased its position in CareTrust REIT by 10.7% in the 2nd quarter. Louisiana State Employees Retirement System now owns 71,500 shares of the real estate investment trust's stock valued at $1,795,000 after acquiring an additional 6,900 shares in the last quarter. Finally, Tributary Capital Management LLC bought a new position in shares of CareTrust REIT in the second quarter worth about $11,119,000. 87.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Wells Fargo & Company raised shares of CareTrust REIT from an "equal weight" rating to an "overweight" rating and raised their price target for the company from $28.00 to $34.00 in a report on Tuesday, October 1st. KeyCorp lifted their target price on CareTrust REIT from $27.00 to $34.00 and gave the company an "overweight" rating in a research note on Monday, October 7th. Royal Bank of Canada upped their price target on CareTrust REIT from $27.00 to $31.00 and gave the company an "outperform" rating in a research note on Thursday, August 22nd. Finally, BMO Capital Markets cut 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 report on Monday, December 9th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, CareTrust REIT presently has a consensus rating of "Moderate Buy" and an average price target of $30.67.

CareTrust REIT Trading Down 4.0 %

NASDAQ:CTRE traded down $1.15 on Wednesday, reaching $27.38. The company's stock had a trading volume of 2,348,273 shares, compared to its average volume of 1,575,477. CareTrust REIT, Inc. has a 1-year low of $20.10 and a 1-year high of $33.15. The business's 50-day moving average price is $30.26 and its two-hundred day moving average price is $28.66. The firm has a market cap of $4.69 billion, a PE ratio of 38.03, a PEG ratio of 1.59 and a beta of 1.07. The company has a debt-to-equity ratio of 0.16, a quick ratio of 7.60 and a current ratio of 7.60.

CareTrust REIT (NASDAQ:CTRE - Get Free Report) last announced its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.21 earnings per share for the quarter, missing analysts' consensus estimates of $0.29 by ($0.08). The company had revenue of $77.38 million during the quarter, compared to analyst estimates of $74.12 million. CareTrust REIT had a return on equity of 5.32% and a net margin of 36.88%. During the same period in the previous year, the company posted $0.35 earnings per share. Equities research analysts anticipate that CareTrust REIT, Inc. will post 1.5 earnings per share for the current fiscal year.

CareTrust REIT Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be given a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 4.24%. The ex-dividend date is Tuesday, December 31st. CareTrust REIT's dividend payout ratio is presently 161.11%.

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.