Natixis Advisors LLC Grows Holdings in CareTrust REIT, Inc. (NASDAQ:CTRE)

Natixis Advisors LLC raised its stake in shares of CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) by 17.4% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 129,821 shares of the real estate investment trust's stock after purchasing an additional 19,211 shares during the period. Natixis Advisors LLC owned 0.08% of CareTrust REIT worth $3,511,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. WealthShield Partners LLC grew its stake in shares of CareTrust REIT by 1.0% during the 4th quarter. WealthShield Partners LLC now owns 49,119 shares of the real estate investment trust's stock valued at $1,343,000 after acquiring an additional 490 shares during the period. Quantinno Capital Management LP raised its position in shares of CareTrust REIT by 3.2% during the 3rd quarter. Quantinno Capital Management LP now owns 17,097 shares of the real estate investment trust's stock valued at $528,000 after purchasing an additional 533 shares during the period. PNC Financial Services Group Inc. lifted its stake in shares of CareTrust REIT by 4.9% during the 4th quarter. PNC Financial Services Group Inc. now owns 11,384 shares of the real estate investment trust's stock valued at $308,000 after buying an additional 534 shares in the last quarter. Blue Trust Inc. increased 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 worth $49,000 after buying an additional 603 shares in the last quarter. Finally, Pitcairn Co. raised its holdings in CareTrust REIT by 5.3% during the third quarter. Pitcairn Co. now owns 13,440 shares of the real estate investment trust's stock valued at $415,000 after acquiring an additional 671 shares during the period. Hedge funds and other institutional investors own 87.77% of the company's stock.

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CareTrust REIT Trading Down 0.6 %

CTRE traded down $0.16 on Wednesday, hitting $28.67. The company had a trading volume of 1,063,057 shares, compared to its average volume of 1,823,847. CareTrust REIT, Inc. has a 12-month low of $23.26 and a 12-month 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 business's fifty day simple moving average is $26.75 and its 200 day simple moving average is $28.62. The company has a market cap of $5.38 billion, a PE ratio of 36.29, a PEG ratio of 1.25 and a beta of 1.11.

CareTrust REIT (NASDAQ:CTRE - Get Free Report) last released its quarterly earnings results on Wednesday, February 12th. The real estate investment trust reported $0.29 earnings per share 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 period in the previous year, the business posted $0.25 EPS. Equities research analysts expect that CareTrust REIT, Inc. will post 1.71 EPS for the current year.

CareTrust REIT Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be paid a dividend of $0.335 per share. The ex-dividend date of this dividend is Monday, March 31st. This is a boost from CareTrust REIT's previous quarterly dividend of $0.29. This represents a $1.34 dividend on an annualized basis and a dividend yield of 4.67%. CareTrust REIT's payout ratio is currently 169.62%.

Wall Street Analyst Weigh In

CTRE has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft raised CareTrust REIT from a "hold" rating to a "buy" rating and set a $31.00 target price on the stock in a research note on Thursday, March 13th. Royal Bank of Canada lowered their target price on shares of CareTrust REIT from $37.00 to $32.00 and set an "outperform" rating on the stock in a report on Friday, February 21st. Wells Fargo & Company cut 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. BMO Capital Markets cut shares of CareTrust REIT from an "outperform" rating to a "market perform" rating and decreased their price target for the stock from $34.00 to $32.00 in a research note on Monday, December 9th. Finally, Wedbush reissued an "underperform" rating and set a $26.00 price objective on shares of CareTrust REIT in a report on Friday, March 14th. One analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat.com, CareTrust REIT currently has an average rating of "Moderate Buy" and an average target price of $31.00.

About CareTrust REIT

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.