Quantbot Technologies LP Has $4.86 Million Stock Holdings in CareTrust REIT, Inc. (NASDAQ:CTRE)

Quantbot Technologies LP grew its position in CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) by 40.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 179,484 shares of the real estate investment trust's stock after acquiring an additional 51,792 shares during the period. Quantbot Technologies LP owned about 0.10% of CareTrust REIT worth $4,855,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the company. Advantage Trust Co bought a new position in CareTrust REIT during the fourth quarter worth about $30,000. Versant Capital Management Inc lifted its position in shares of CareTrust REIT by 98.8% in the fourth quarter. Versant Capital Management Inc now owns 1,495 shares of the real estate investment trust's stock valued at $40,000 after buying an additional 743 shares during the last quarter. Blue Trust Inc. boosted its stake in shares of CareTrust REIT by 50.0% during the 4th quarter. Blue Trust Inc. now owns 1,808 shares of the real estate investment trust's stock worth $49,000 after acquiring an additional 603 shares during the period. Loomis Sayles & Co. L P increased its holdings in shares of CareTrust REIT by 5,527.8% during the 3rd quarter. Loomis Sayles & Co. L P now owns 2,026 shares of the real estate investment trust's stock worth $63,000 after acquiring an additional 1,990 shares during the last quarter. Finally, Signaturefd LLC increased its holdings in shares of CareTrust REIT by 20.3% during the 4th quarter. Signaturefd LLC now owns 2,628 shares of the real estate investment trust's stock worth $71,000 after acquiring an additional 443 shares during the last quarter. 87.77% of the stock is currently owned by institutional investors and hedge funds.

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CareTrust REIT Stock Performance

CareTrust REIT stock traded down $0.16 during midday trading on Wednesday, hitting $28.67. The company's stock had a trading volume of 1,063,071 shares, compared to its average volume of 1,618,263. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.82 and a quick ratio of 3.82. The company has a market cap of $5.38 billion, a price-to-earnings ratio of 36.29, a PEG ratio of 1.25 and a beta of 1.11. CareTrust REIT, Inc. has a 1-year low of $23.26 and a 1-year high of $33.15. The company has a 50-day moving average price of $26.75 and a two-hundred day moving average price of $28.62.

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 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 period in the prior year, the firm earned $0.25 earnings per share. As a group, sell-side analysts predict 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 will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be given a $0.335 dividend. The ex-dividend date is Monday, March 31st. This represents a $1.34 dividend on an annualized basis and a dividend yield of 4.67%. This is a boost from CareTrust REIT's previous quarterly dividend of $0.29. CareTrust REIT's dividend payout ratio (DPR) is presently 169.62%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Wells Fargo & Company reduced their price objective on shares of CareTrust REIT from $34.00 to $31.00 and set an "overweight" rating for the company in a research report on Monday, March 10th. BMO Capital Markets cut shares of CareTrust REIT from an "outperform" rating to a "market perform" rating and cut their target price for the stock from $34.00 to $32.00 in a research note on Monday, December 9th. Wedbush reiterated an "underperform" rating and issued a $26.00 price target on shares of CareTrust REIT in a research note 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. Finally, 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, March 13th. One equities research 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. According to MarketBeat, CareTrust REIT presently has an average rating of "Moderate Buy" and a consensus 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.