Victory Capital Management Inc. Has $24.61 Million Stock Position in CareTrust REIT, Inc. (NASDAQ:CTRE)

Victory Capital Management Inc. grew its stake in shares of CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) by 8.9% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 909,627 shares of the real estate investment trust's stock after acquiring an additional 74,121 shares during the period. Victory Capital Management Inc. owned about 0.53% of CareTrust REIT worth $24,605,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. JPMorgan Chase & Co. increased its stake in CareTrust REIT by 381.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 6,878,379 shares of the real estate investment trust's stock worth $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% during the third 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. Heitman Real Estate Securities LLC acquired a new stake in shares of CareTrust REIT during the third quarter valued at approximately $27,534,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of CareTrust REIT by 344.0% in 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 during the period. Finally, Wellington Management Group LLP raised its position in CareTrust REIT by 5.5% during the third quarter. Wellington Management Group LLP now owns 12,798,055 shares of the real estate investment trust's stock valued at $394,948,000 after buying an additional 670,348 shares during the period. 87.77% of the stock is currently owned by institutional investors and hedge funds.

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CareTrust REIT Stock Performance

CTRE stock traded up $0.65 during mid-day trading on Friday, reaching $28.35. 1,863,932 shares of the stock traded hands, compared to its average volume of 1,840,367. CareTrust REIT, Inc. has a 52 week low of $23.26 and a 52 week high of $33.15. The company has a quick ratio of 3.82, a current ratio of 3.82 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $5.32 billion, a PE ratio of 35.89, a P/E/G ratio of 1.25 and a beta of 1.11. The business has a 50-day moving average of $26.39 and a two-hundred day moving average of $28.68.

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 EPS for the quarter, missing the consensus estimate 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 in the prior year, the company earned $0.25 earnings per share. As a group, equities analysts predict that CareTrust REIT, Inc. will post 1.71 EPS for the current fiscal year.

CareTrust REIT Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were given a $0.29 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $1.16 annualized dividend and a yield of 4.09%. CareTrust REIT's dividend payout ratio is 146.84%.

Analysts Set New Price Targets

CTRE has been the topic of several research analyst reports. Wedbush reaffirmed an "underperform" rating and set a $26.00 target price on shares of CareTrust REIT in a research note on Friday. 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 report on Thursday. 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 report on Monday. BMO Capital Markets downgraded CareTrust REIT from an "outperform" rating to a "market perform" rating and lowered their target price for the company from $34.00 to $32.00 in a research note on Monday, December 9th. Finally, 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. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, CareTrust REIT currently has a consensus rating of "Moderate Buy" and a consensus price target of $31.00.

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.