Castellan Group Takes $3.40 Million Position in CareTrust REIT, Inc. (NASDAQ:CTRE)

Castellan Group purchased a new position in shares of CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund purchased 125,624 shares of the real estate investment trust's stock, valued at approximately $3,398,000. CareTrust REIT accounts for approximately 1.5% of Castellan Group's holdings, making the stock its 29th biggest position. Castellan Group owned about 0.07% of CareTrust REIT at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of CTRE. JPMorgan Chase & Co. grew its holdings in shares of CareTrust REIT by 381.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 6,878,379 shares of the real estate investment trust's stock valued at $212,267,000 after acquiring an additional 5,448,904 shares in the last quarter. Eagle Asset Management Inc. increased its stake in CareTrust REIT by 22.4% in the third quarter. Eagle Asset Management Inc. now owns 428,699 shares of the real estate investment trust's stock valued at $13,264,000 after acquiring an additional 78,560 shares during the last quarter. Raymond James & Associates raised its stake in CareTrust REIT by 10.6% during the third quarter. Raymond James & Associates now owns 684,971 shares of the real estate investment trust's stock worth $21,138,000 after acquiring an additional 65,756 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new stake in shares of CareTrust REIT during the third quarter valued at about $7,475,000. Finally, Principal Financial Group Inc. boosted its holdings in CareTrust REIT by 5.2% in the third quarter. Principal Financial Group Inc. now owns 838,306 shares of the real estate investment trust's stock valued at $25,870,000 after acquiring an additional 41,623 shares during the last quarter. Institutional investors and hedge funds own 87.77% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on CTRE shares. Wedbush downgraded CareTrust REIT from a "neutral" rating to an "underperform" rating and cut their target price for the stock from $34.00 to $26.00 in a research note on Thursday, January 2nd. BMO Capital Markets lowered 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. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $30.67.

CareTrust REIT Stock Down 0.4 %

CTRE stock traded down $0.10 during mid-day trading on Monday, reaching $26.43. The company had a trading volume of 1,792,844 shares, compared to its average volume of 1,339,118. The company has a market capitalization of $4.53 billion, a price-to-earnings ratio of 36.70, a price-to-earnings-growth ratio of 1.24 and a beta of 1.09. The firm has a fifty day simple moving average of $27.02 and a 200 day simple moving average of $28.94. CareTrust REIT, Inc. has a fifty-two week low of $22.42 and a fifty-two week high of $33.15. The company has a debt-to-equity ratio of 0.16, a quick ratio of 7.60 and a current ratio of 7.60.

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 for the quarter, missing the consensus estimate of $0.41 by ($0.12). CareTrust REIT had a net margin of 36.88% and a return on equity of 5.32%. During the same period in the previous year, the company earned $0.25 earnings per share. Analysts forecast that CareTrust REIT, Inc. will post 1.5 earnings per share for the current fiscal year.

CareTrust REIT Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were given a $0.29 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $1.16 annualized dividend and a yield of 4.39%. CareTrust REIT's dividend payout ratio is presently 161.11%.

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.