CareTrust REIT, Inc. (NASDAQ:CTRE) Stock Holdings Lifted by Barclays PLC

Barclays PLC grew its holdings in shares of CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) by 60.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 416,459 shares of the real estate investment trust's stock after purchasing an additional 156,639 shares during the period. Barclays PLC owned approximately 0.24% of CareTrust REIT worth $11,265,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. JPMorgan Chase & Co. raised its position in 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 during the period. Vanguard Group Inc. raised its position in shares of CareTrust REIT by 18.5% during the fourth quarter. Vanguard Group Inc. now owns 27,300,633 shares of the real estate investment trust's stock worth $738,482,000 after purchasing an additional 4,263,097 shares during the period. FMR LLC grew its stake in CareTrust REIT by 51.8% during the 4th quarter. FMR LLC now owns 7,932,946 shares of the real estate investment trust's stock valued at $214,586,000 after acquiring an additional 2,708,050 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of CareTrust REIT during the 4th quarter valued at about $49,048,000. Finally, Norges Bank bought a new stake in CareTrust REIT during the fourth quarter worth approximately $33,180,000. 87.77% of the stock is currently owned by institutional investors and hedge funds.

CareTrust REIT Stock Down 0.2 %

Shares of CTRE traded down $0.06 during midday trading on Friday, reaching $28.10. 303,317 shares of the stock were exchanged, compared to its average volume of 1,775,507. The company has a market capitalization of $5.27 billion, a P/E ratio of 35.64, a PEG ratio of 1.25 and a beta of 0.88. The company's 50 day moving average is $27.48 and its two-hundred day moving average is $28.24. 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, Inc. has a 52 week low of $23.62 and a 52 week high of $33.15.

CareTrust REIT (NASDAQ:CTRE - Get Free Report) last issued its earnings results on Wednesday, February 12th. The real estate investment trust reported $0.29 EPS for the quarter, missing analysts' consensus estimates 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 previous year, the company posted $0.25 earnings per share. On average, sell-side analysts anticipate that CareTrust REIT, Inc. will post 1.71 earnings per share for the current year.

CareTrust REIT Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were paid a dividend of $0.335 per share. The ex-dividend date was 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 4.77%. CareTrust REIT's dividend payout ratio is 169.62%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on CTRE. Wedbush reissued an "underperform" rating and issued a $26.00 target price on shares of CareTrust REIT in a report on Friday, March 14th. Royal Bank of Canada cut their price objective on shares of CareTrust REIT from $37.00 to $32.00 and set an "outperform" rating for the company in a research report on Friday, February 21st. Deutsche Bank Aktiengesellschaft upgraded CareTrust REIT from a "hold" rating to a "buy" rating and set a $31.00 price objective on the stock in a research report on Thursday, March 13th. Finally, Wells Fargo & Company dropped 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. One analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average 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.