Sit Investment Associates Inc. raised its stake in shares of CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) by 77.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 317,285 shares of the real estate investment trust's stock after purchasing an additional 138,035 shares during the period. Sit Investment Associates Inc. owned 0.19% of CareTrust REIT worth $8,583,000 as of its most recent SEC filing.
A number of other institutional investors also recently modified their holdings of CTRE. Advantage Trust Co acquired a new position in CareTrust REIT in the 4th quarter valued at $30,000. Versant Capital Management Inc lifted its holdings in shares of CareTrust REIT by 98.8% during the 4th quarter. Versant Capital Management Inc now owns 1,495 shares of the real estate investment trust's stock worth $40,000 after acquiring an additional 743 shares during the period. Blue Trust Inc. boosted its stake in CareTrust REIT by 50.0% in the 4th 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 in the last quarter. Signaturefd LLC grew its position in CareTrust REIT by 20.3% in the fourth quarter. Signaturefd LLC now owns 2,628 shares of the real estate investment trust's stock valued at $71,000 after acquiring an additional 443 shares during the period. Finally, GAMMA Investing LLC raised its stake in CareTrust REIT by 24.4% during the fourth quarter. GAMMA Investing LLC now owns 4,033 shares of the real estate investment trust's stock worth $109,000 after acquiring an additional 790 shares in the last quarter. Institutional investors own 87.77% of the company's stock.
CareTrust REIT Trading Up 0.1 %
Shares of CTRE traded up $0.02 during trading hours on Friday, hitting $27.69. 480,264 shares of the stock traded hands, compared to its average volume of 1,750,207. The business has a fifty day moving average of $27.06 and a 200-day moving average of $28.38. The firm has a market capitalization of $5.20 billion, a PE ratio of 34.96, a price-to-earnings-growth ratio of 1.25 and a beta of 0.88. CareTrust REIT, Inc. has a 1-year low of $23.26 and a 1-year high of $33.15. 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 (NASDAQ:CTRE - Get Free Report) last issued its 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 quarter in the prior year, the business posted $0.25 earnings per share. Analysts expect that CareTrust REIT, Inc. will post 1.71 EPS for the current year.
CareTrust REIT Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be given a dividend of $0.335 per share. This is a boost from CareTrust REIT's previous quarterly dividend of $0.29. The ex-dividend date is Monday, March 31st. This represents a $1.34 annualized dividend and a dividend yield of 4.84%. CareTrust REIT's payout ratio is presently 169.62%.
Analysts Set New Price Targets
A number of equities analysts have commented on CTRE shares. Wedbush restated an "underperform" rating and issued a $26.00 price target on shares of CareTrust REIT in a research report on Friday, March 14th. Deutsche Bank Aktiengesellschaft upgraded 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 decreased their target price on CareTrust REIT from $34.00 to $31.00 and set an "overweight" rating on the stock in a report on Monday, March 10th. Finally, Royal Bank of Canada cut their price target on CareTrust REIT from $37.00 to $32.00 and set an "outperform" rating for the company in a report on Friday, February 21st. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, CareTrust REIT currently has a consensus rating of "Moderate Buy" and a consensus target price of $31.00.
Check Out Our Latest Analysis on CTRE
About CareTrust REIT
(
Free Report)
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.
Featured Articles
Before you consider CareTrust REIT, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and CareTrust REIT wasn't on the list.
While CareTrust REIT currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Enter your email address and we'll send you MarketBeat's list of seven stocks and why their long-term outlooks are very promising.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
