Fmr LLC Acquires 2,708,050 Shares of CareTrust REIT, Inc. (NASDAQ:CTRE)

FMR LLC boosted its position in CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) by 51.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 7,932,946 shares of the real estate investment trust's stock after acquiring an additional 2,708,050 shares during the period. FMR LLC owned 4.63% of CareTrust REIT worth $214,586,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of CTRE. Advantage Trust Co purchased a new position in CareTrust REIT during the 4th quarter valued at about $30,000. Versant Capital Management Inc grew its position in shares of CareTrust REIT by 98.8% in the 4th quarter. Versant Capital Management Inc now owns 1,495 shares of the real estate investment trust's stock worth $40,000 after buying an additional 743 shares during the last quarter. Blue Trust Inc. increased its stake in shares of CareTrust REIT by 50.0% during the fourth quarter. Blue Trust Inc. now owns 1,808 shares of the real estate investment trust's stock valued at $49,000 after buying an additional 603 shares during the period. Signaturefd LLC raised its holdings in shares of CareTrust REIT by 20.3% during the fourth quarter. Signaturefd LLC now owns 2,628 shares of the real estate investment trust's stock valued at $71,000 after acquiring an additional 443 shares in the last quarter. Finally, GAMMA Investing LLC raised its holdings in shares of CareTrust REIT by 24.4% during the fourth quarter. GAMMA Investing LLC now owns 4,033 shares of the real estate investment trust's stock valued at $109,000 after acquiring an additional 790 shares in the last quarter. 87.77% of the stock is owned by institutional investors.

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CareTrust REIT Stock Up 0.5 %

Shares of CTRE traded up $0.13 during mid-day trading on Tuesday, reaching $28.38. The company had a trading volume of 1,260,691 shares, compared to its average volume of 1,759,186. CareTrust REIT, Inc. has a 52 week low of $23.26 and a 52 week high of $33.15. The company has a debt-to-equity ratio of 0.14, a quick ratio of 3.82 and a current ratio of 3.82. The company has a market capitalization of $5.33 billion, a price-to-earnings ratio of 35.92, a price-to-earnings-growth ratio of 1.25 and a beta of 0.88. The firm has a 50-day moving average price of $27.16 and a 200 day moving average price of $28.33.

CareTrust REIT (NASDAQ:CTRE - Get Free Report) last released its earnings results on Wednesday, February 12th. The real estate investment trust reported $0.29 EPS for the quarter, missing the consensus estimate 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 in the prior year, the company earned $0.25 earnings per share. On average, sell-side analysts forecast that CareTrust REIT, Inc. will post 1.71 EPS 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 paid a dividend of $0.335 per share. 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 4.72%. The ex-dividend date is Monday, March 31st. CareTrust REIT's dividend payout ratio (DPR) is currently 169.62%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft raised CareTrust REIT from a "hold" rating to a "buy" rating and set a $31.00 price objective on the stock in a research 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 research report on Friday, February 21st. Wells Fargo & Company decreased their price objective on CareTrust REIT from $34.00 to $31.00 and set an "overweight" rating for the company in a report on Monday, March 10th. Finally, Wedbush reissued an "underperform" rating and set a $26.00 price objective on shares of CareTrust REIT in a research report on Friday, March 14th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, CareTrust REIT presently has an average rating of "Moderate Buy" and a consensus target price of $31.00.

CareTrust REIT Company 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.