Fmr LLC Has $161.24 Million Stake in CareTrust REIT, Inc. (NASDAQ:CTRE)

FMR LLC lifted its holdings in shares of CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) by 209.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,224,896 shares of the real estate investment trust's stock after purchasing an additional 3,538,798 shares during the quarter. FMR LLC owned approximately 3.05% of CareTrust REIT worth $161,240,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of CTRE. CWM LLC grew its stake in CareTrust REIT by 16.8% in the 3rd quarter. CWM LLC now owns 3,244 shares of the real estate investment trust's stock valued at $100,000 after buying an additional 467 shares during the last quarter. United Services Automobile Association grew its position in CareTrust REIT by 5.0% in the 2nd quarter. United Services Automobile Association now owns 11,244 shares of the real estate investment trust's stock worth $282,000 after purchasing an additional 540 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd grew its position in CareTrust REIT by 0.4% in the 3rd quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 151,594 shares of the real estate investment trust's stock worth $4,678,000 after purchasing an additional 544 shares during the last quarter. Pitcairn Co. grew its position in CareTrust REIT by 5.3% in the 3rd quarter. Pitcairn Co. now owns 13,440 shares of the real estate investment trust's stock worth $415,000 after purchasing an additional 671 shares during the last quarter. Finally, US Bancorp DE grew its position in CareTrust REIT by 6.2% in the 3rd quarter. US Bancorp DE now owns 11,786 shares of the real estate investment trust's stock worth $364,000 after purchasing an additional 692 shares during the last quarter. Institutional investors and hedge funds own 87.77% of the company's stock.

Analyst Ratings Changes

CTRE has been the topic of several research analyst reports. KeyCorp raised their price target on shares of CareTrust REIT from $27.00 to $34.00 and gave the stock an "overweight" rating in a research report on Monday, October 7th. Wells Fargo & Company upgraded shares of CareTrust REIT from an "equal weight" rating to an "overweight" rating and raised their price target for the stock from $28.00 to $34.00 in a research report on Tuesday, October 1st. BMO Capital Markets raised their price objective on shares of CareTrust REIT from $33.00 to $34.00 and gave the stock an "outperform" rating in a report on Monday, October 7th. Finally, Royal Bank of Canada raised their price objective on shares of CareTrust REIT from $27.00 to $31.00 and gave the stock an "outperform" rating in a report on Thursday, August 22nd. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat, CareTrust REIT currently has an average rating of "Moderate Buy" and an average price target of $31.00.

CareTrust REIT Stock Up 0.9 %

CTRE traded up $0.26 during trading on Wednesday, reaching $29.42. The company had a trading volume of 2,063,457 shares, compared to its average volume of 1,565,213. The business's fifty day moving average price is $30.58 and its 200 day moving average price is $28.42. The company has a debt-to-equity ratio of 0.16, a current ratio of 7.60 and a quick ratio of 7.60. The company has a market cap of $5.04 billion, a P/E ratio of 40.86 and a beta of 1.07. CareTrust REIT, Inc. has a 12 month low of $20.10 and a 12 month high of $33.15.

CareTrust REIT (NASDAQ:CTRE - Get Free Report) last announced its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.21 EPS for the quarter, missing analysts' consensus estimates of $0.29 by ($0.08). CareTrust REIT had a return on equity of 5.32% and a net margin of 36.88%. The business had revenue of $77.38 million during the quarter, compared to the consensus estimate of $74.12 million. During the same period in the prior year, the firm earned $0.35 EPS. Equities analysts anticipate that CareTrust REIT, Inc. will post 1.5 EPS for the current year.

CareTrust REIT Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were issued a $0.29 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $1.16 annualized dividend and a dividend yield of 3.94%. CareTrust REIT's dividend payout ratio is currently 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.