Cibc World Markets Corp Invests $470,000 in CareTrust REIT, Inc. (NASDAQ:CTRE)

Cibc World Markets Corp acquired a new position in shares of CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 17,378 shares of the real estate investment trust's stock, valued at approximately $470,000.

Several other large investors have also recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. raised its holdings in shares of CareTrust REIT by 381.2% during 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 buying an additional 5,448,904 shares during the last quarter. Eagle Asset Management Inc. raised its stake in CareTrust REIT by 22.4% during the 3rd 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 in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new position in CareTrust REIT during the 3rd quarter worth $7,475,000. Geode Capital Management LLC grew its stake in shares of CareTrust REIT by 7.4% in the third quarter. Geode Capital Management LLC now owns 3,732,609 shares of the real estate investment trust's stock worth $115,209,000 after purchasing an additional 258,271 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in shares of CareTrust REIT by 5.3% during the fourth quarter. Bank of New York Mellon Corp now owns 2,505,883 shares of the real estate investment trust's stock valued at $67,784,000 after purchasing an additional 126,280 shares during the period. 87.77% of the stock is owned by institutional investors and hedge funds.

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CareTrust REIT Price Performance

Shares of NASDAQ CTRE traded down $0.10 during trading on Thursday, hitting $28.60. The company had a trading volume of 1,681,123 shares, compared to its average volume of 1,619,836. CareTrust REIT, Inc. has a 52 week low of $23.26 and a 52 week high of $33.15. The business's 50-day moving average is $26.79 and its 200 day moving average is $28.62. The company has a market cap of $5.37 billion, a P/E ratio of 36.20, a PEG ratio of 1.25 and a beta of 1.11. 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 announced its earnings results on Wednesday, February 12th. The real estate investment trust reported $0.29 earnings per share (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 last year, the business earned $0.25 EPS. Equities research analysts predict that CareTrust REIT, Inc. will post 1.71 earnings per share for the current fiscal year.

CareTrust REIT Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be given a $0.335 dividend. This is an increase from CareTrust REIT's previous quarterly dividend of $0.29. This represents a $1.34 annualized dividend and a dividend yield of 4.69%. The ex-dividend date of this dividend is Monday, March 31st. CareTrust REIT's dividend payout ratio (DPR) is 169.62%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on CTRE shares. 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 report on Monday, March 10th. Deutsche Bank Aktiengesellschaft raised shares of CareTrust REIT from a "hold" rating to a "buy" rating and set a $31.00 price target for the company in a research note on Thursday, March 13th. Royal Bank of Canada lowered their price objective on shares of CareTrust REIT from $37.00 to $32.00 and set an "outperform" rating on the stock in a research note on Friday, February 21st. Wedbush restated an "underperform" rating and issued a $26.00 target price on shares of CareTrust REIT in a research report on Friday, March 14th. Finally, BMO Capital Markets lowered CareTrust REIT from an "outperform" rating to a "market perform" rating and decreased their price target for the company from $34.00 to $32.00 in a research note on Monday, December 9th. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the stock. According to MarketBeat, CareTrust REIT presently has a consensus rating of "Moderate Buy" and a consensus price target 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.