EntryPoint Capital LLC Makes New Investment in CareTrust REIT, Inc. (NASDAQ:CTRE)

EntryPoint Capital LLC bought a new stake in CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 10,644 shares of the real estate investment trust's stock, valued at approximately $288,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Connor Clark & Lunn Investment Management Ltd. bought a new position in CareTrust REIT during the third quarter valued at $1,110,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of CareTrust REIT by 6.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,323,045 shares of the real estate investment trust's stock valued at $71,689,000 after acquiring an additional 132,874 shares during the last quarter. Citigroup Inc. lifted its holdings in shares of CareTrust REIT by 8.1% in the 3rd quarter. Citigroup Inc. now owns 198,070 shares of the real estate investment trust's stock valued at $6,112,000 after acquiring an additional 14,801 shares during the last quarter. Harvest Fund Management Co. Ltd purchased a new position in CareTrust REIT in the third quarter worth about $210,000. Finally, Loomis Sayles & Co. L P increased its stake in CareTrust REIT by 5,527.8% during the third 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. 87.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

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CareTrust REIT Trading Down 0.5 %

Shares of CTRE traded down $0.15 during trading hours on Tuesday, reaching $28.43. 2,252,213 shares of the company traded hands, compared to its average volume of 1,720,362. The firm has a market cap of $5.34 billion, a price-to-earnings ratio of 35.99, a PEG ratio of 1.25 and a beta of 1.11. CareTrust REIT, Inc. has a 12-month low of $23.26 and a 12-month high of $33.15. The stock's fifty day moving average price is $26.92 and its 200 day moving average price is $28.55. 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 (NASDAQ:CTRE - Get Free Report) last released its quarterly earnings data 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 quarter in the previous year, the firm earned $0.25 earnings per share. Sell-side analysts forecast that CareTrust REIT, Inc. will post 1.71 earnings per share for the current year.

CareTrust REIT Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be issued a dividend of $0.335 per share. This is an increase from CareTrust REIT's previous quarterly dividend of $0.29. This represents a $1.34 annualized dividend and a yield of 4.71%. The ex-dividend date is Monday, March 31st. CareTrust REIT's dividend payout ratio (DPR) is presently 169.62%.

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.