CareTrust REIT, Inc. (NASDAQ:CTRE) Holdings Raised by FIL Ltd

FIL Ltd lifted its stake in shares of CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) by 5,870.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 126,456 shares of the real estate investment trust's stock after acquiring an additional 124,338 shares during the quarter. FIL Ltd owned about 0.07% of CareTrust REIT worth $3,421,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Quantinno Capital Management LP raised its stake in shares of CareTrust REIT by 3.2% in the 3rd quarter. Quantinno Capital Management LP now owns 17,097 shares of the real estate investment trust's stock worth $528,000 after buying an additional 533 shares in the last quarter. Public Employees Retirement System of Ohio grew its holdings in CareTrust REIT by 9.5% during the third quarter. Public Employees Retirement System of Ohio now owns 220,510 shares of the real estate investment trust's stock worth $6,805,000 after acquiring an additional 19,080 shares during the period. Barclays PLC raised its position in CareTrust REIT by 264.9% in the third quarter. Barclays PLC now owns 259,820 shares of the real estate investment trust's stock worth $8,017,000 after acquiring an additional 188,622 shares in the last quarter. M&T Bank Corp lifted its holdings in CareTrust REIT by 11.5% in the 3rd quarter. M&T Bank Corp now owns 13,280 shares of the real estate investment trust's stock valued at $410,000 after acquiring an additional 1,374 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of CareTrust REIT by 7.4% during the 3rd quarter. Geode Capital Management LLC now owns 3,732,609 shares of the real estate investment trust's stock valued at $115,209,000 after purchasing an additional 258,271 shares in the last quarter. Institutional investors own 87.77% of the company's stock.

CareTrust REIT Trading Up 0.5 %

Shares of CTRE stock traded up $0.14 during trading hours on Friday, reaching $28.76. 1,294,136 shares of the stock traded hands, compared to its average volume of 1,765,747. The company has a quick ratio of 3.82, a current ratio of 3.82 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $5.40 billion, a PE ratio of 36.40, a PEG ratio of 1.25 and a beta of 0.88. CareTrust REIT, Inc. has a 1-year low of $23.26 and a 1-year high of $33.15. The business has a fifty day moving average price of $27.26 and a 200 day moving average price of $28.31.

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 quarter last year, the company earned $0.25 EPS. On average, equities research analysts forecast that CareTrust REIT, Inc. will post 1.71 EPS for the current year.

CareTrust REIT Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were given a dividend of $0.335 per share. The ex-dividend date of this dividend was Monday, March 31st. This is a positive change from CareTrust REIT's previous quarterly dividend of $0.29. This represents a $1.34 dividend on an annualized basis and a yield of 4.66%. CareTrust REIT's dividend payout ratio (DPR) is presently 169.62%.

Wall Street Analyst Weigh In

CTRE has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft upgraded shares of CareTrust REIT from a "hold" rating to a "buy" rating and set a $31.00 target price on the stock in a report on Thursday, March 13th. Royal Bank of Canada dropped their price target on CareTrust REIT from $37.00 to $32.00 and set an "outperform" rating on the stock in a report on Friday, February 21st. Wedbush reiterated an "underperform" rating and set a $26.00 price objective on shares of CareTrust REIT in a research report on Friday, March 14th. Finally, Wells Fargo & Company decreased their target price on CareTrust REIT from $34.00 to $31.00 and set an "overweight" rating on the stock in a report on Monday, March 10th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, CareTrust REIT presently has an average 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.