Zurcher Kantonalbank Zurich Cantonalbank Raises Position in CareTrust REIT, Inc. (NASDAQ:CTRE)

Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) by 70.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 94,757 shares of the real estate investment trust's stock after buying an additional 39,266 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned 0.06% of CareTrust REIT worth $2,563,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Advantage Trust Co purchased a new stake in shares of CareTrust REIT in the fourth quarter valued at approximately $30,000. Versant Capital Management Inc boosted its position in CareTrust REIT by 98.8% during the fourth quarter. Versant Capital Management Inc now owns 1,495 shares of the real estate investment trust's stock worth $40,000 after purchasing an additional 743 shares in the last quarter. Blue Trust Inc. boosted its position in CareTrust REIT by 50.0% during the fourth quarter. Blue Trust Inc. now owns 1,808 shares of the real estate investment trust's stock worth $49,000 after purchasing an additional 603 shares in the last quarter. Loomis Sayles & Co. L P boosted its position in CareTrust REIT by 5,527.8% during the third quarter. Loomis Sayles & Co. L P now owns 2,026 shares of the real estate investment trust's stock worth $63,000 after purchasing an additional 1,990 shares in the last quarter. Finally, FSA Wealth Management LLC purchased a new stake in CareTrust REIT during the third quarter worth $80,000. 87.77% of the stock is currently owned by hedge funds and other institutional investors.

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CareTrust REIT Trading Down 0.5 %

CareTrust REIT stock traded down $0.15 during trading on Thursday, hitting $28.99. The company's stock had a trading volume of 1,589,178 shares, compared to its average volume of 1,612,992. The stock has a market capitalization of $5.44 billion, a price-to-earnings ratio of 36.69, a P/E/G ratio of 1.25 and a beta of 1.11. The stock's fifty day moving average is $26.56 and its 200 day moving average is $28.65. CareTrust REIT, Inc. has a 1-year low of $23.26 and a 1-year 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.

CareTrust REIT (NASDAQ:CTRE - Get Free Report) last released its 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 net margin of 42.22% and a return on equity of 5.59%. During the same period last year, the business earned $0.25 earnings per share. As a group, equities research analysts predict 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. Shareholders of record on Monday, March 31st will be given a dividend of $0.335 per share. This represents a $1.34 dividend on an annualized basis and a yield of 4.62%. The ex-dividend date of this dividend is Monday, March 31st. This is an increase from CareTrust REIT's previous quarterly dividend of $0.29. CareTrust REIT's payout ratio is 146.84%.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Wedbush reiterated an "underperform" rating and set a $26.00 target price on shares of CareTrust REIT in a research report on Friday, March 14th. BMO Capital Markets downgraded CareTrust REIT from an "outperform" rating to a "market perform" rating and decreased their target price for the stock from $34.00 to $32.00 in a research report on Monday, December 9th. 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 research report on Monday, March 10th. 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. Finally, Deutsche Bank Aktiengesellschaft raised CareTrust REIT from a "hold" rating to a "buy" rating and set a $31.00 price target for the company in a report on Thursday, March 13th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price 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.