Wellington Management Group LLP Cuts Stake in CareTrust REIT, Inc. (NASDAQ:CTRE)

Wellington Management Group LLP lessened its holdings in shares of CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) by 14.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 10,943,891 shares of the real estate investment trust's stock after selling 1,854,164 shares during the quarter. Wellington Management Group LLP owned about 5.83% of CareTrust REIT worth $296,032,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. O Shaughnessy Asset Management LLC boosted its holdings in shares of CareTrust REIT by 5.4% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 11,777 shares of the real estate investment trust's stock valued at $319,000 after purchasing an additional 601 shares during the last quarter. Schroder Investment Management Group purchased a new stake in shares of CareTrust REIT in the fourth quarter worth about $657,000. QSV Equity Investors LLC bought a new position in CareTrust REIT during the fourth quarter valued at approximately $1,556,000. Pictet Asset Management Holding SA grew its holdings in CareTrust REIT by 27.6% during the 4th quarter. Pictet Asset Management Holding SA now owns 59,101 shares of the real estate investment trust's stock valued at $1,599,000 after buying an additional 12,769 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. increased its stake in CareTrust REIT by 18.2% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 246,800 shares of the real estate investment trust's stock worth $6,676,000 after acquiring an additional 38,000 shares during the last quarter. 87.77% of the stock is owned by hedge funds and other institutional investors.

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Analysts Set New Price Targets

A number of research analysts have recently commented on CTRE shares. Royal Bank of Canada lowered their target price on CareTrust REIT from $37.00 to $32.00 and set an "outperform" rating for the company in a research report on Friday, February 21st. BMO Capital Markets lowered shares of CareTrust REIT from an "outperform" rating to a "market perform" rating and lowered their price objective for the company from $34.00 to $32.00 in a research report on Monday, December 9th. Wells Fargo & Company reduced their target price on shares of CareTrust REIT from $34.00 to $31.00 and set an "overweight" rating on the stock in a report on Monday, March 10th. Wedbush reaffirmed an "underperform" rating and issued a $26.00 price target on shares of CareTrust REIT in a report on Friday, March 14th. Finally, Deutsche Bank Aktiengesellschaft raised CareTrust REIT from a "hold" rating to a "buy" rating and set a $31.00 price objective on the stock in a research note on Thursday, March 13th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, CareTrust REIT has an average rating of "Moderate Buy" and an average price target of $31.00.

CareTrust REIT Trading Down 3.0 %

Shares of CTRE stock traded down $0.88 during trading hours on Friday, reaching $27.98. 3,984,945 shares of the stock were exchanged, compared to its average volume of 1,736,886. 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 12-month low of $23.26 and a 12-month high of $33.15. The firm has a market capitalization of $5.25 billion, a price-to-earnings ratio of 35.41, a price-to-earnings-growth ratio of 1.25 and a beta of 0.88. The company's 50-day moving average price is $27.00 and its 200-day moving average price is $28.56.

CareTrust REIT (NASDAQ:CTRE - Get Free Report) last announced its 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 previous year, the business posted $0.25 EPS. As a group, equities analysts anticipate that CareTrust REIT, Inc. will post 1.71 earnings per share for the current year.

CareTrust REIT Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be paid a $0.335 dividend. This is a positive change from CareTrust REIT's previous quarterly dividend of $0.29. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.34 dividend on an annualized basis and a yield of 4.79%. CareTrust REIT's dividend payout ratio (DPR) is presently 169.62%.

CareTrust REIT Company 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.