CareTrust REIT, Inc. (NASDAQ:CTRE) Shares Bought by Vanguard Group Inc.

Vanguard Group Inc. boosted its position in CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) by 18.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,300,633 shares of the real estate investment trust's stock after purchasing an additional 4,263,097 shares during the period. Vanguard Group Inc. owned about 15.92% of CareTrust REIT worth $738,482,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the company. JPMorgan Chase & Co. lifted its holdings in shares of CareTrust REIT by 381.2% in the third quarter. JPMorgan Chase & Co. now owns 6,878,379 shares of the real estate investment trust's stock valued at $212,267,000 after purchasing an additional 5,448,904 shares in the last quarter. FMR LLC lifted its stake in CareTrust REIT by 209.9% in the 3rd quarter. FMR LLC now owns 5,224,896 shares of the real estate investment trust's stock valued at $161,240,000 after buying an additional 3,538,798 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in CareTrust REIT in the 4th quarter valued at approximately $49,048,000. Heitman Real Estate Securities LLC acquired a new stake in CareTrust REIT during the 3rd quarter valued at $27,534,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in CareTrust REIT by 344.0% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 951,535 shares of the real estate investment trust's stock worth $29,364,000 after buying an additional 737,236 shares in the last quarter. 87.77% of the stock is owned by hedge funds and other institutional investors.

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Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. Royal Bank of Canada reduced their price objective on CareTrust REIT from $37.00 to $32.00 and set an "outperform" rating on the stock in a research report on Friday, February 21st. BMO Capital Markets downgraded shares of 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. Wedbush reissued an "underperform" rating and set a $26.00 price objective on shares of CareTrust REIT in a research note on Friday, March 14th. Wells Fargo & Company lowered their target price on shares of 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, Deutsche Bank Aktiengesellschaft raised CareTrust REIT from a "hold" rating to a "buy" rating and set a $31.00 price target on the stock in a research note on Thursday, March 13th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $31.00.

CareTrust REIT Trading Down 3.0 %

CareTrust REIT stock traded down $0.88 during trading on Friday, reaching $27.98. The company had a trading volume of 3,984,945 shares, compared to its average volume of 1,738,145. CareTrust REIT, Inc. has a 12-month low of $23.26 and a 12-month high of $33.15. 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 stock's 50 day moving average price is $27.03 and its two-hundred day moving average price is $28.53. The firm has a market capitalization of $5.25 billion, a price-to-earnings ratio of 35.41, a PEG ratio of 1.25 and a beta of 0.88.

CareTrust REIT (NASDAQ:CTRE - Get Free Report) last announced its quarterly earnings data 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 quarter in the previous year, the firm earned $0.25 EPS. As a group, equities analysts expect that CareTrust REIT, Inc. will post 1.71 earnings per share for the current fiscal year.

CareTrust REIT Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be paid a dividend of $0.335 per share. The ex-dividend date is Monday, March 31st. This is a positive change from CareTrust REIT's previous quarterly dividend of $0.29. This represents a $1.34 annualized dividend and a yield of 4.79%. CareTrust REIT's dividend payout ratio is currently 169.62%.

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.